Following the 90 Minute Rule

In this Sales Tip Tuesday we are going to look at and discuss what I call the 90 Minute Rule.

Today’s video can be found in the achievement component the Growth Matrix.

I would like to share a story about Eric.  Eric had a tough sales year.  For the year he only hit 40% of his sales goals.  Seemingly everything went wrong.  Opportunities he thought he would land didn’t go his way.  Other prospects decided to push out their acquisition to the following year.  Even a couple of his current clients shut their doors or were acquired by bigger companies. 

All told, the year was very disappointing and Erik was losing his confidence in his sales abilities.

Ever been in a funk?

When I met with Eric, he was in a funk.  He knew that he could sell, but something was missing.  Out of the five years with the company, this was the first one he had not hit his numbers.  Eric, just sat there shaking his head.

I mentioned to him advice I had heard from World Series winning manager Joe Maddon.  Joe Maddon was the manager of the Chicago Cubs.  Joe was brought on to see if he could turn a team around that had not won a World Series in 108 years.  That is a lot of losing…in fact the Cubs was frequently called the lovable losers.

The 90 minute rule.

Joe Maddon had a rule, if the team lost a game, they would only focus on that game for 90 minutes.  During that time, they could look to see where improvement needed to be made.  After that though, it was on to the next game.  This did not mean that the team would not lose any more games – shoot they lost over 60 games in the year that they won the World Series, however, it changed the team’s mindset by not allowing the team to dwell on a loss.

Reflect, learn, grow. 

This same principle needs to be applied to salespeople.  As a salesperson, you are not going to win every deal.  Or, you may not hit your sales goals every year.  Realize that happens to every salesperson.  Your job is learn from the experience, look to see where improvements can be made, and move on to the next opportunity.  You need to know the 90 minute rule.

Eric did just that.  Although he just added a bit more flair.  Eric went out to his garage and found a large firecracker.  He then wrote 2020, the year he did not his sales goals, on the firecracker, and shot it into the air.  Eric gleefully laughed as the firecracker exploded taking his disappointment away with it.  After that, Eric shifted his mindset and began focusing on the next opportunity.

Here’s the sales tip:

Don’t dwell on the losses.  Learn from them, find ways to improve, and move on to the next opportunity.  Follow the 90 minute rule.

One other sales tip, if you had a great year:

Savor the moment, celebrate your success with others, but it is equally important to move on to your next opportunity as well.  I have seen many salespeople bask in the glory of the prior year for too long and miss out on opportunities in the following year.

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

The 7 Deadly Sins that Sink Salespeople

In this Sales Tip Tuesday we are going to go over what salespeople do that can sink them.

Today’s video can be found in the achievement component the Growth Matrix.

Oftentimes I will meet with salespeople who go out to proposals extremely confident that they will win the new business.  In their minds, they have done everything right.  The sale is all but guaranteed.  In fact, the salesperson believes that all they need to do is show up and they will win the business.

After some time has passed, I will check back in with the salesperson to get the expected “good news” from the meeting. Unfortunately, the tone has changed. The sale did not go their way.  In fact, the Buyer chose a competitors product instead.

Typically, when this happens I find that at least one of the following seven items was overlooked.  Because of that oversight, the deal the lost.

So, let me present the 7 Deadly Sins That Sink Salespeople.

1. There was no need for the Buyer to change, or there was no problem with the current situation.  If a problem or pain point cannot be identified, there is little impetus for the Buyer to move from their current state to a new solution.  There is no motivation for the Buyer to move.

2. No trusted relationship was formed.  During the sales process, a trusted relationship was not forged with the Buyer.  Without a solid connection, the Buyer can feel disengaged to the salesperson or their product, thus creating enough discomfort to thwart any potential sale.

3. All of the Buyer’s Information was not received.  During the sales process, the salesperson did not receive all of the necessary information from the buyer.  Missing vital pieces of information creates inaccurate proposals, incomplete solutions, and missed opportunities.

4. The market solution is not good for the Buyer.  Salespeople can fall into the trap of thinking they know what is best for the Buyer.  So, they shape their proposal around what they believe is the correct solution – and not what the Buyer is requesting.  That is a dangerous game, because, if the Buyer does not agree with the salesperson’s reasoning, they will reject what the salesperson is offering.   

5. Additional competitors were unknown.  During the sales process the subject of competitive bidders was not approached.  The salesperson pridefully believed that they were the only option.  Then, they are later blindsided in discovering that the Buyer reached out to another competitor, and that competitor provided a better option.

6. Not all of the Buyers are known until it is too late.  Oftentimes the individual who is doing the initial legwork is not the final decision maker.  Rather, that initial individual is tasked with solely giving and obtaining information.  The Buyer is actual someone else, or a group of people.  Then when it comes to the final presentation, salespeople can be caught unaware by not knowing all of the Buyers, and not forming relationships with them.  

7. A Pathway to Victory is not Discussed.  The salesperson provides a solid proposal, but does not instruct the Buyer on the next necessary steps forward.  As silly as this sounds, this happens more frequently than it should.  The Buyer may like the proposal, but they are confused or uninformed of what happens next.  So, a very winnable deal is left to rot, because the salesperson did not provide a pathway to complete the final sale. 

Here’s the sales tip:

Beware of the Seven Deadly Sins the Sink Salespeople.  Address all of them – in fact do this early in the sales process.  By sidestepping each of these potential issues, you avoid falling into traps later in the sales process, when it could be too late to recover. 

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

5 Tips to Create Your Own Personal Sales Plan

In this Sales Tip Tuesday we are going to discuss why it is important to create your own Personal Sales Plan.

Today’s video can be found in the achievement component the Growth Matrix.

When meeting with sales people, the topic of personal sales goals frequently comes up.  It is a vital in sales to have a goal.  In fact, if you don’t have a sales goal, I would encourage you to pause the video and take some time to establish your personal sales goals.

Typically, salespeople have a targeted number in mind that they have to hit. Or perhaps management has given the salesperson a specific number to reach.  Once that sales goal is shared, I then would ask, “What is your plan to hit that number?”

This is where some conversations become uncomfortable.  The salesperson starts squirming around in the chair, or my favorite is when the sales person’s eyes shoot up to the sky and they say “Well…”.

Without a plan? You’re not alone.

If you don’t have a personal sales plan, you are not alone.  Sales Acceleration, a data gathering firm that reaches out to thousands of businesses, found that 75% of sales people do not have a personal sales plan.  

Zig Ziglar famously says – “You can’t hit a target that you can’t see.”  You need to have sales goals and a personal action plan to get to those goals.

Here are five quick tips to set a personal sales plan:

1. Know your numbers:  In order to hit your sales goals, you will need to know how many introductions will need to be made.  The number of sales proposals you will need to present, the size of client you are targeting, and the number of wins that will get you to your sales goal.

2. Past Performance shows Future Results:  Look back over the previous year.  Check to see what sales activity produced the most results.  Discover where that business generated and you won those clients.  Then look to repeat the positive outcomes. 

3. Target a key customer base or customer profile that has been successful with your company.  Find out what industries, or size of companies, or types of clients work best for you.  Go deep into that specific niche.

4. Let Your Current Relationships Carry Your Forward:  Look at your current relationships.  For clients, see if you can expand their client footprint.  Ask your network who they can introduce to you.  Make these people a part of your success team.

5. Write out and display your personal sales plan.  Take the time to write out the plan.  Do not keep it in your head.  Then display your plan so that you can reference it and remind yourself of the goals.

A bonus tip!

Actually, I will add a bonus tip as well.  Keep looking to personally grow.  Continue to learn and develop your sales skills.  Look to read books, listen to podcasts.  Find ways to grow.

Here’s the sales tip:

So here is the sales tip, If you want to hit your sales goals, create a personal sales plan to hit those goals.  Have your target in sight and set a trajectory to hit that target.

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

How to Sell Value Before Price

In this Sales Tip Tuesday we are going to discuss how you should look to sell VALUE instead of PRICE with all of your sales presentations. 

Today’s video can be found in the motivation component the Growth Matrix.

At some time in basically all sales presentations, the Buyer will ask a question like “What is the Price?” or  “How much is this going to cost?”

At that point, it is like some salespeople are shot with a Freeze Ray, they don’t know what to say, or even how to answer the question.  

Ian Altman who is a sales speaker and a friend of mine, calls this the Stop Drop and Roll moment.  When faced with a pricing question, and after the total cost is revealed, less confident salespeople will Stop Selling, Drop the Price, and then Roll Over hoping the buyer will be merciful and take the lower offer.

The problem here is that the salesperson has made their entire presentation hinge on pricing, and, in the Buyers mind, the price is usually too high.

Instead of focusing on price, the salesperson should focus on the VALUE of the cost or service provided.

Value > price

I work with a number of consultants.  I encourage them to determine the value that their serves will bring to the prospective customer.  If enough value of their program is shown to a prospective client, they won’t look twice at the price.

For instance, let’s say the consultant’s services are listed at $25,000.  $25,000 could be a large amount of money for the Buyer’s company.  If presented as a price, the Buyer could balk at the figure.

However, let’s say that the Buyer has a problem with efficiency.  As a manufacturer, they are losing $80,000 a year due to the time that it takes to develop the product.  Additionally, another $10,000 is lost as the manufactured good are waiting to be shipped out to a customer., and another $10,000 is lost due to how the manufactured goods are shipped.  That is a total of $100,000 lost per year – and this problem has been going on for the last 2 years.  Over that two year timetable $200,000 has been lost and another $100,000 will be lost the following year if no solution is found.

The consultant is able to identify those problems and provide solutions which will solve the problem, and the consultant’s fee is $25,000.  What a deal for the Buyer.

Now the price didn’t change.  What changed was that the focus of the conversation moved from the $25,000 price to a VALUE based conversation which would save the company $100,000 this year and for years to come.

Here’s the sales tip. 

Don’t sell on price.  Sell on the value that your goods and services can provide to the customer.

Once the Buyer understands the true value that you are bringing, they won’t think twice about the price, they will just cut you a check.

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

Treat Every Day Like Two Days with this Calendar Hack

In this Sales Tip Tuesday we are going to discuss how to manage your calendar when it comes to the sales cycle.

Today’s video can be found in the achievement component the Growth Matrix.

I was working with Dale.  Dale was a very good salesperson.  He knew how to identify potential customers, pinpoint their needs, and then win the business by showing how his solutions would best benefit the client.

Dale did have one problem… He would win new accounts every three months or so.  Unfortunately, in the two months in between, Dale would have a gap in sales performance.

Assessing your sales pipeline.

I asked Dale about his typical sales cycle.  Dale mentioned that the sales cycle was about 90 days from first consultation to final presentation.  From there, I asked Dale about his current opportunities.  Dale mentioned that he had three new opportunities that he was excited about. All three would be closing in roughly 40 days and he was focused on those dates.  However, outside of those closing dates Dale had nothing else in his sales pipeline.  That meant, he would need to start over again – creating another 90 day gap between sales.

The calendar hack.

I asked Dale if when he came to work in the morning, if he could look at two dates each day he started work.  The first date was the present day.  Dale needed to make sure his daily tasks were completed and he was continuing to push his prospective opportunities through the pipeline.

The second date was equally important.  The second date was 90 days out from the present day.  With a 90 day sales cycle, Dale needed to identify the prospective clients that would look to make a decision 90 days from today and reach out to them.  For those opportunities it would be THEIR day 1 of DALE’S 90 day sales cycle.

Dale took me up on that.  Funny enough, the first thing he did was buy two daily calendars and put them on his desk.  One showed the present day, and the other was set to 90 days into the future.  After making sure his daily tasks were completed, Dale would look through his contact list and identify potential customers who would need to make a final decision 90 days from the present day.

His sales shifted dramatically.  Dale now was closing 3 times the amount of business than he had in the past.  Additionally, now there were no more gaping holes in his sales cycle.  He had a consistent flow of business.

Here’s the sales tip:

So here is the sales tip, make sure you identify both what needs to be done on the present day as well as what potential opportunities would need to begin the sales cycle.  You may not need to buy two calendars like Dale did, but you need to be aware of two dates:  The Actual Date, and the sale Closing Cycle Date.

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

How to "Go" Until the Buyer says "No"

In this Sales Tip Tuesday we are going to discuss tactics on being intentional with all of your sales appointments.

Today’s video can be found in the development component the Growth Matrix.

I was working with an insurance brokerage who had a new sales producer named Stacy.  Stacy was bold and had a great attitude.  She would fearlessly want into a new prospects office to make an introduction.

However, Stacy ran into trouble after introducing herself and creating rapport.  Often times she would leave the prospects office with her only action of dropping off her business card and her company’s brochure.  

Stacy was frustrated that she could not get to the next level in the sales process.

Create a list of objectives.

In working with Stacy, I encouraged her to mentally prepare a list of objectives from the prospective appointment.  This list of objectives would be a series of questions which would move the opportunity down the sales pipeline.  Questions would include:

• “Who makes the insurance buying decisions?”  

• “Could I have their business card”.   

• “Is that person in the office?” 

• “Would they be available to meet for a quick introduction?”  

Then, upon being granted the opportunity to meet with the buyer, there would be another series of objective questions she could ask. For example: 

• “How is it going with your current insurance program?”

• “Does your current insurance broker take good care of you?”     

• “When is your insurance come up for renewal?”

• “Would it be possible for me to see the current insurance policies?”

The goal for Stacy would be to keep going until you have reached all of your appointment objectives, or the prospect has said “No”.  If the prospect says “No”, simply pivot, look for an alternative pathway – such as reaching out to the Buyer directly or finding a more beneficial time to connect.  Then create a new list of objectives for that next appointment.  

Keep things moving forward.

One note, it is important that at your sales appointments each one of your objectives move you towards the next step in your sales process.

Stacy used that approach and her results were astounding.  Instead of dropping off information and walking away, she was now meeting the insurance buyers, learning about their insurance program, finding a good time to discuss the insurance renewal, and even in one case, walking away with a new account.  All by preparing a list of objectives for each appointment.

Here’s the sales tip:

Before you begin your sales appointment, prepare a list of objectives that you would like to gain from that meeting.  Make sure that the objectives move you down your sales process, and if you get a “No” from the buyer, simply pivot, find an alternative course at another time,  and set a new list of objectives.

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

Understanding the True Value of Your Sales Pipeline

In this Sales Tip Tuesday we are going to talk about the value of your sales pipeline and how to accurately forecast.

Today’s video can be found in the tracking component the Growth Matrix.

I was with a young producer named Sam.  In the course of our coaching conversation I asked him about his sales pipeline.  Sam’s face lit up and could not wait to show me his pipeline and all of the opportunities on it. He was excited because the pipeline showed a value was 150% of his annual sales goal three months into the sales year. 

In his words, Sam though his prospecting was done, he would win the accounts in the pipeline, and he could coast through the remainder of the year. 

We started going through the accounts one by one.  However, as we were discussing the prospects I discovered that there was a key problem.  Sam believed that he was going to win each account – even though on some of them, he had only set the appointment. 

A reality check - weighing your pipeline properly

Although I admired Sam’s confidence as a sales person, his pipeline was not an accurate portrayal of reality.

My suggestion is that Sam would weight his pipeline. By that I mean, that he would place a percentage of winning the account next to key phases of the sales process.

For example, after attending a meeting with the prospect, where a tangible need was discovered and the prospect showed continued interest, Instead of placing a 100% value next to the opportunity, which Sam had done, he should list it at a lesser percentage, say 30% in the sales pipeline.  By giving a weighted percentage for the prospect, this would give Sam a more accurate picture of his sales pipeline going forward.

As the prospect moved through the sales process, those percentages could be increased.  Say, gaining all the information to generate a proposal would have a 50% weighted value, providing a presentation would generate a 70% figure.   Then, when the prospect has been won, the final adjustment to 100% should be shown.

Weighing a sales pipeline does three main things.  

First, it provides more accurate forecasting allowing salespeople (and their sales managers) to get a true value of the sales pipeline.

Second, weighting the pipeline assists salespeople throughout the year get a more precise picture of where they are to their annual goals so that they fall short of the goal should the sale not fall their way.

Third, this means that a sales pipeline needs to exceed the annual goal.  Studies have shown that a robust pipeline has at least 3x the sales value of the annual goals.

Going back to Sam, when we adjusted his sales pipeline, he was not at 150% of his annual sales goal, he actually was only at 65%.  Although this deflated Sam a little bit in our meeting, he continued to bring in prospects and ultimately reached the sales goal at the end of the year.

Here’s the sales tip:

Make sure to weigh your pipeline.  Provide weighted percentages for each phase of the sales process so get a true mark of where you are towards reaching your sales goals. 

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

Own Your Schedule, or Your Schedule Will Own You

In this Sales Tip Tuesday we are going to talk about how to protect your precious work time especially during this busy season by taking ownership of your schedule.

Today’s video can be found in the coaching component the Growth Matrix.

Let’s be honest, right now there is a lot going on.  It’s 4th quarter, and you are focusing on finishing out the year on a strong note. 

But there are many distractions pulling you away from work. 

The Holiday Season is fast approaching and preparations are being made.  Or, if you are like me, you are doing the school shuffle with your kids – either at home, at school, or both.

Needless to see, there are a lot of interruptions taking you away from your precious work time.  With that being the case, how can you move past these disruptions and focus on the work ahead?

I have found a five step process greatly help me be productive amidst the distractions and take ownership of my schedule.  

First, find the time of the day where you are mentally at your best.

Typically, it is a that time you do your best work.  For one of my clients, Jill, this was between 1:00 and 5:00 in the afternoon.  For you it might be a different time.  Some people, like my friend Mel, prefers the 6:00AM – 9:00AM time.  Others are night owls are the most focused and do their best work at night.  The key is for you to find the time when you are the sharpest and can focus best on work.

Second, protect that focused time in your schedule.

By that I mean, do not set less important meetings or events around that time.  Use that focused time to do your most mentally challenging work.  If someone wants to set an appointment during that time, see if you can reschedule that meeting with them for a different time during the day.  You need to own your schedule by protecting your focused time.

Third, switch off all notifications, close your email, and (if possible) turn off your phone. 

Focused time needs to be just that, focused time.  Every beep, ding, ring, or whistle that interrupts your train of thought.  Studies then show, it can take anywhere from 90 seconds to 3 minutes to regain focus after each distraction.  If you are disturbed 8 times an hour by texts, notifications or emails, this can cost you anywhere from 12 to 24 minutes getting back on track. You have the power to own your schedule by turning off the notifications, and closing your email.

Fourth, tell your clients or co-workers that you will respond at a specific time.

Travis, another friend that I have coached, has an e-mail response saying that he will check and respond to his emails two times during the workday – at 11:30AM and 4:00pm.  Working with him, I know this – and also know that he will respond to my email at one of those times.

Fifth, understand that not everything is urgent.

Very little correspondence with your clients needs be responded to that very second you receive the notification. In my experience, I have found that customers are ok with you responding to them within a couple of hours, or at the end of the day.  Give yourself permission to turn off your email and texts.  Notify your schedule to your clients as well.  They are busy people as well and will understand.

Here’s the sales tip:

Take ownership of your schedule, or else your schedule will take ownership of you. 

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

Knowing Your Three Types Of Clients and How to Serve Them

In this Sales Tip Tuesday we are going to talk how we should handle our current customer base. 

Today’s video can be found in the discovery component the Growth Matrix.

I am going to start this sales tip with a quote from Hall of Fame Football coach Tony Dungy.

  When asked about how he treated his players, Coach Dungy said, “I need to treat everybody fairly, but that does not mean I treat them equally”. 

You see, Coach Dungy had three quarterbacks on his team.  The first one was Peyton Manning.  Peyton Manning is arguably one of the Top 10 quarterbacks to play the position in the history of football.  Naturally, he was the starter. 

But the team had two other quarterbacks, a second team quarterback named Jim Sorgi, and a rotating group of guys who were the third string quarterback.  

As coach Dungy said, he treated them all fairly, but did he treat them equally?  Did he give all three quarterbacks equal playing time in the games, or proactive time?  No, he did not.

Unequal, but fair.

During practices, Peyton Manning took roughly 80% of the practice reps.  Jim Sorgi, the backup got roughly 15% of the practice reps, and the third string quarterback, barely got any practice reps at all.  Similarly, in the games. Peyton Manning would start and play the entire game – unless he got hurt.  

Was this fair, yes, each quarterback knew the role they were to play and the importance to the organization.  Was this equal?  No, it was not.  Peyton Manning, the starting quarterback received different treatment because of his significant importance to the team.

Treating your clients fairly is not the same as treating them equally.

This is similar to how you should look at your client base.  Should you treat them all fairly, absolutely!  Yes, you have the responsibility to provide the necessary services required to meet their needs.  Should they be treated equally?  No not necessarily.  

Three different tiers.

For me, I broke my clients into three specific Tiers:

The first Tier were my top clients.  Those clients were the ones who brought in roughly 70% of my revenue.  – My goal was to OVERSERVE THEM.  Make them feel like VIP clients.  I went out of my way to PERSONALLY see that their needs were met.  They received my upmost attention.  I treated them to sporting event, concerts, or other high end gatherings  – for the simple reason that my revenue stream depended on them remaining my clients.  

The middle Tier of my clients were good steady customers.  This group brought in 28% of my revenue.  The relationship was strong with these clients, and they valued my services.  Typically what set them apart from the top tier was their size.  However, because they felt like partners, I would get referrals from this group of clients at a regular basis.

The bottom Tier of my clients (roughly the bottom 30% of my client roster)  only generated approximately 2% of my revenue stream.  We would provide good service for them, but typically I would not go above and beyond for them. Actually, my goal was to transfer the relationship to the service department to handle the account.  They would get good service from our support personnel allowing me not to get bogged down with them, but spend that time working on the other two tiers of my clients, or getting other Top Tier clients.

Here’s the sales tip:

First look to categorize your clients into different Tiers.  Then look to OVERSERVE the top tier, MAINTAIN STRONG RELATIONSHIPS with the second tier, and look to TRANSFER the bottom tiers to the service team or someone else in the organization.

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

4 Tips to Overcome Objections With Your Prospects

In this Sales Tip Tuesday we are going to talk about objections that are raised by buyers and how to overcome those objections.

Today’s video can be found in the coaching component the Growth Matrix.

There is one thing in common with every sale that I have ever won.  Do you know what that is?  For every sale I have ever won, I needed to overcome at least one objection from the buyer during the sales process.  

That should tell us something.

Objections are a part of the selling process. In fact, one of the major factors separating separates successful sales people from people who don’t make it, is how they overcome objections from the Buyer.  

So, what do we do when run into objections? 

Here are four tips that will help you overcome the Buyer’s objection:

1) Don’t run from objections

Do not run from objections.  Address them head one.  Actually, anticipate that the buyer will have questions, and be prepared to answer those concerns.   

2) Bring problems to the light

Objections bring out potential problems to the light.  You can’t solve a Buyer’s problems if you don’t know what they are.  Once the Buyer’s vocalize their concerns, you can address them. 

Also, if the Buyer’s problems are unreasonable or unsolvable, you learn that as well can close out that opportunity and quickly move on to another one.  

3) Ask clarifying questions

Ask clarifying questions about the Buyer’s objections.  Phil Jones, an advisor of mind states the best way to overcome an objection is to ask “What makes you say that?”  This question allows the buyer to dig deeper into the objection to get to the root of the problem.

Once clarity around the root of the problem is identified, you can look to respond to their objection and address their true concerns. 

4) Research, rather than assume

It is better to research a problem than assume an answer on the spot.  Many times, a buyer will share a problem that you may not know the answer.  That is ok.  The best thing you can do is tell them that you will look into their question and get back to them right away. 

Don’t tap dance around their question and try to come up with an answer that you think solves the problem or is an answer that they want to hear.  That will only create more problems for you down the road and will cost you credibility in the Buyers mind. 

Conversely, stating that you will research their question and respond allows you to add credibility by responding accurately, respond in a timely fashion, and shows the type of service that you provide.  

Here is the sales tip:

Every sale will have objections.  Bank on that. The response to those objections oftentimes will determine if you win or lose the deal.  Don’t run from objections, bring the problems to light.  Ask clarifying questions to get to the root of the problem and respond accordingly, even if that means you will have to get back to the Buyer with an answer at a later date.

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

Hit Your Sales Goals Using a Key Measurable Factor

In this Sales Tip Tuesday we are going to discuss discovering your key measurable factor.

Today’s video can be found in the tracking component the Growth Matrix.

I frequently get asked, “what is the best metric that will lead to hitting my sales goals?”

Is it the number of sales connections made?  The number of appointments?  The number of proposals generated?  The size of accounts?  

The truth is that there is no one true path or metric to follow that will lead to sales success.  That is because each individual sales person is unique.  Each person has their own distinctive selling styles that guide them through their sales process.      

What needs to be determined is what I call the Key Measurable Factor. The Key Measurable Factor channels the entire sales process down to one distinct metric – that if followed, will lead the individual sales person to achieve their goals.  

Key Measurable Factors are different for each person.

Even for sales people within the same company.  The goal is to locate and unlock that one metric, because once discovered, typically the rest of the sales process flows smoothly.

I will give you an example.  I was working with one company that had three salespeople.  The first one, Mark, was very good with larger clients.  He had a knack of building relationships with them.  However, larger clients were harder to locate.  What mark discovered was his key measurable factor came down to making sure the size of the deal was over $15,000.  If it was over $15,000, Mark new that he had an 80% chance of closing the business, and getting enough customers to hit his sales goals.  

Mary, was just as good of a sales person as Mark.  However, for Mary, we discovered her Key Motivational Factor was earlier in the process.  Mary needed to hit 10 appointments per week.  Should she hit that number of appointments, her final presentation ratio, and closing ratio were consistent enough that she would hit her goals.  

Julian’s strengths were different.  Julian loved meeting new people.  He could easily strike up a good conversation and build rapport with a potential buyer.  Sometimes the prospect would bite leading Julian to set up an appointment.  Often they wouldn’t.  But that didn’t bother Julian, he was already on to the next opportunity.  For Julian, he needed to have conversations with 50 potential buyers each week.  If he did that, the rest of the sales process would flow smoothly and he would hit his sales goals.  

Three unique people with three different selling style working within the same company.  All three were successful.  Why?  They discovered their unique Key Measurable Factor and made sure they hit that number.

Now imagine if the owner or sales manager stated that progress would be measured by the number of appointments made each week.  With my real life example above, only one of the three salespeople would have hit that metric.  While the other two probably would not make it.  What a missed opportunity that would be for that business to have very capable two successful salespeople, who are hard to find mind you, walk out the door due to a company not understanding their sales people’s individual Key Measurable Factor.  

Here’s the sales tip.

For salespeople, find your Key Measurable Factor, or if you are a sales manager, locate the Key Measurable Factor for each salesperson on your team. Discovering that metric will allow your sales people to hit their goals and thrive.

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

Move Your Sales Forward With Reverse Engineering

In this Sales Tip Tuesday we are going to discuss maintaining urgency in the buyers mind.

Today’s video can be found in the motivation component the Growth Matrix.

Have you ever had this problem?

David was having a problem.  He had made a proposal to a prospect.  This proposal would change out their current provider IT system and provider and system and replace it with David’s. 

The buyer was interested and knew that a change needed to be made to upgrade his outdated system.  But the Buyer pushing David off, stating he would address it again in the next quarter and asked David to call him in another 90 days.  This happened multiple times to David.

As you can imagine David was frustrated.  He lamented that he wasn’t sure if the Buyer was ever going to be ready to commit to upgrading his IT systems and perhaps he was wasting his time.

I offered a different approach for David. 

That instead of looking forward to solve the problem, maybe he should look at it backwards. 

David gave me a puzzled look, so I continued to explain:

Instead of asking when he would like the new system installed, David could ask, when would you like to have the new IT system integrated and up and running?  Then once you have a date from the buyer (for example at the start of their new fiscal year) then David could backtrack from that date to determine when the system would need to arrive at the Buyers office so it could be installed, to when the system would need to be built so it could arrive at the proper time, to finally when the purchase would need to be made.  

Reverse engineering the sale does two things:

First, the buyer is able to mentally picture a date for the new IT system to be up and running.  Second, it creates a “Purchase By Date” deadline knowing that in order to have the system in place by the new fiscal year, a specific timeline would need to be followed allowing for the building and installation of the new system.

David tried that approach.  By setting a date in the buyers mind and working backwards, he got the purchase order for the IT system and completed the sale.

So here is the sales tip:

Sometimes if you are stuck with a Buyer, or the Buyer is continuing to push off the decision, look at the sale from the end date and work backwards.  This creates urgency as well as a necessary purchase date for the Buyer.  

Here is a Bonus Tip: 

If the buyer is still struggling with the purchase, you can ask one of two question.  The first question is “what would change from your current situation when you choose our product?”  Or, there is corresponding question comes from the other side of the coin: “What would happen if you fail to make a decision and take action, what would you lose?”

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

The 4 C's of Connecting with Clients and Prospects

In this Sales Tip Tuesday we are going to discuss what I call The Four ‘C’s of Connecting with clients and prospects.

Today’s video can be found in the development component the Growth Matrix.

In these unprecedented times connecting with clients or prospects is more difficult than ever.  People are thrust into new roles (both at work and at home) working from different physical environments, and communicating in vastly different ways.

What has not changed is the need for connection with your clients and prospects.  In fact, I would assert that personal connection is now more important than ever.

So for today’s sales tip – I am going to share my 4 ‘C’s of connecting.  As my friend Colin Cowherd says – this is a meat sandwich of sales information, so, here goes.

The first ‘C’ I call the Contact Clause.

The Contact Clause is all about gathering information about a client or prospect from every connection you have with them.

A former coworker of mine named Bill excelled at this.  He had an electronic file for each client or prospect and would add any new specific item he learned about his client or prospect.   This would include their spouse’s name, their kids name, birthday information, college they attended, vacations spots, favorite sports team.  Before reaching out, Bill would then pull the file and refresh his memory on the personal information about each connection.

Doing this allowed him to gain stronger rapport with the client or prospect by remembering or relating to specific personal details with him.  As you can imagine, his clients appreciated this and Bill had a very strong bond with them.

The Second ‘C’ is the Charisma Clause.

The Charisma clause allows you to share a little bit of your life with your connections to build rapport with them. 

If you are emailing texting with your contact, instead of saying “Have a great weekend” you would say “Have a great weekend.  My family and I are off to Detroit Lake for some fishing.  Hoping to catch some rainbow Trout.”

By adding a small, extra phrase, this allows your connection to get to know you better and to spur on another avenue of connection. 

The Third ‘C’ is the Consideration Clause. 

The Consideration Clause focuses on you being thankful to your connection.  It would include sending out a personal card, or provide a unique gift for them. 

When I was an insurance broker, I would send out an Easy button to all of my new clients.  You remember the Easy Button.  When you Press it, it would say “That was Easy”. I wanted to make them know that choosing to work with me would be easy and enjoyable. 

Sure enough, my clients LOVED it.  In fact, after a conversation, I would often hear them press the button and the tiny voice would say “That was Easy”

The Forth ‘C’ is the Courtesy Clause. 

The Courtesy Clause was all about reaching out to clients when and how they would like to be reached.

If my clients preferred text message, send a text – not an email.  If I knew my clients booked their appointments before Noon, I would connect with them before Noon.  Basically, I would look to vary how and when I communicated with each one of my connections based upon how they preferred to be contacted. 

How would I know?  Simple I would ASK THEM.  I would ask them when the best time to communicate with them and what method of communication was best for them.  Making adjustments from my end to fit their specific style of communication would further display their value to me and continue cement the relationship.

Here’s the Sales Tip

Using those four “C’s” to connect with my clients and prospects impacted my new business sales numbers and allowed me to gain a 12 point higher client retention rate than my peers.  I have taught this to my clients who have received the same high end results.

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

The Three Key Attributes Needed For Successful Salespeople

In this Sales Tip Tuesday we are going to discuss the key three attributes needed for successful salespeople.

Today’s video can be found in the coaching component the Growth Matrix.

A sales manager with a problem

I was working with Travis.  Travis was a sales manager who was having difficulty brining in sales people.  Travis thought he was making good hires, and his new hires were hardworking people, but Travis found that after 6 – 9 months, his sales people would begin to sputter.  Sales would not be generated causing the initial strong efforts of his sales staff to wane. 

Ultimately, the sales professional would not have been successful and would look to find new employment.

Travis was concerned as he was trying to grow his business, but felt like he was going backwards with the cost and time it took to bring on new sales professionals.

The three key attributes needed

In speaking with Travis, we discussed that to hire a good sales professional, three key attributes would need to be clearly identified during the application process. 

Those three attributes would be product knowledge, a sales strong acumen, and a good network to build a client base. 

To hire a new sales professional, at least two of those attributes needed to be in place.  Then the third one could be coached up, or trained.

For instance product knowledge could be learned by other members within the team, or with industry focused education seminars.

A sales acumen could be strengthened through sales coaching, providing sales tactics, accompanying newer sales professionals on presentations, or creating sales related role playing scenarios.

Networks could be built through introducing the sales professional to key networking groups, having them meet with other centers of influence, or even ceding them with a small number of smaller clients to gain referral opportunities. 

However, if the sales professional only had one key attribute, or worse, none of the key attributes, they would struggle and most likely fail.  

Travis took this approach and began to hire accordingly.  This year he brought in two new people.  Both of them possessed at least two of the three key attributes.  Travis worked with them improving the attribute that was deficient.  He was thrilled that by coaching up their underdeveloped attribute, both sales professionals were now well above their sales goals.

Here’s the Sales Tip.

when looking for a new sales professional, make sure that they have at least two of the three key attributes for sales success, knowing that the third one can be developed over time.

One more bonus tip:

Do a quick inventory of your current sales staff – especially those who are struggling.  If any of these people do not have at least two of these attributes, they may need to be replaced with other sales professionals that exhibit two or more of the key qualifications.  

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

The 4 Rules For Running a DYNAMIC Sales Meeting

In this Sales Tip Tuesday we are going to discuss how to run dynamic, successful sales meetings. 

Today’s video can be found in the tracking component the Growth Matrix.

If I have learned one thing in my 20+ years in the sales industry, it is this.  Sales professionals don’t like sales meetings.  This is because that they basically feel that it is a waste of time taking them away from where they really want to be – which is connecting with their clients & prospects. 

Plus, sales meetings are generally run from a negative perspective.  Management questioning why the sales professionals are not doing more, wondering why numbers are not being reached, or even announcing a brand new corporate sales initiative which will throw a monkey wrench into the current sales process.  

Glowing Pant Syndrome…

Typically, the sales professionals during these meetings will suffer what I call the “glowing pants syndrome”.  Glowing Pant Syndrome is the bluish glow coming from underneath the table as the sales professionals discretely try to send emails, text messages, or even play games.

Clearly sales people don’t want to be there and don’t want to contribute, causing very little to be accomplished during that meeting.  

So then, the question is how can this be changed.  How can sales meetings be more invigorating, encourage active participation from the entire group, and remove distractions?  Here are four tips I recommend.  As a note – none of these tips include brining in doughnuts or pastries.

The first rule is the “No dings, pings, or buzzes rule”.

This means that call phones are put on silent mode and placed collectively in a basket in the middle of the table. This eliminates the Glowing Pants Syndrome and alleviates the distractions from cell phones.

Yes, clients and prospects can wait 60 minutes for you to get back to them.  In fact, I have never had a salesperson say they lost a sale because the sales professional could not immediately respond to the prospect during the 8:00am sales meeting.

The second rule is to celebrate wins. 

Make a big deal over the wins that were recorded during the month.  Have the sales professionals tell the stories and highlight the solutions they brought to the table, the strategy in winning over the buyer, and any partners that were instrumental in the victory. 

From the Win, craft a 30 second story describing the fulfilled need, the actual solution provided and the emotional actual and emotional outcome for the new client.

The third rule is to bring up a sales discussion topic and review that topic with the group. 

This serves as a teaching element to newer sales professionals, and a refresher course to more seasoned salespeople.  In fact, if one sales person excels in that particular area, have that person lead the discussion.  It is always great to hear from your peers who are excelling in a particular area share how they are successful.

The fourth rule is to break out into smaller groups.

In those smaller groups, role play the sales topic, or further discuss the topic. Here, the goal is to practice the sales technique and hear another people’s approach to the topic.  Then bring the group back together and discuss what was learned with the larger group.  

Here’s the sales tip.

Reinvigorate your sales meeting.  Make it positive by focusing on the wins.  Make it educational be bringing up a specific topic.  Make it engaging by ensuring that the topic is practiced or discussed, and eliminate the Glowing pant Syndrome by taking away the cell phones. 

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

The ONE KEY Introductory Question That Makes ALL the Difference

In this Sales Tip Tuesday we are going to discuss how to quickly gain information on a potential buyers relationship with their current vendor.

Today’s video can be found in the coaching component the Growth Matrix.

I was talking with Alice the other day.  Alice is a financial planner.  Her job is to meet with individuals to see if they would be willing to allow Alice to represent their financial assets in the marketplace.  

This particular job is challenging because not only does she need to have a good plan to help people’s assets grow, that client needs to make the decision to basically “fire” their current financial planner and go with Alice.

As you can imagine this sale requires both product knowledge as well as strong relational skills.  And, unless there was a glaring problem, these sales could take a long time.  

The revealing question

Alice felt like she was spinning her wheels in trying to determine which prospects she should pursue.  Alice did have a good number of prospects in the pipeline, but wasn’t sure if they valued the relationship, or just wanted free marketing advice.

I asked Alice a question.  How do clients respond when she asks them who currently handles their financial assets?  Alice gave me a puzzled look and asked me to clarify my question.

I mentioned that since she has to uproot the current provider, she needs to quickly ascertain the relationship between her prospect and their current financial planner.  By asking that question, she can gain some key insight to that relationship. 

Specifically, the prospect might say he works with Andy.  Or, the prospect could respond that he works with Key Financial Planners – the name of the company.  Or, the prospect may not know who provides the financial planning.

All in a name

How they respond to that question gives insight on the relationship with that provider.  Usually, a response of a specific name shows a tight relationship where there is constant communication, or that the individual is in constant contact with the prospect.  It would probably be best for Alice to look elsewhere.  

Responding with the organization’s name does not show a strong personal relationship.  The ties might be to a company and not a person – showing some opportunity for Alice to build a personal relationship.

Of course the answer Alice wants to hear is that the prospect has no idea who manages their financial assets.  This obviously means that the prospect is lacking a relationship, and Alice should pounce on that opportunity.

Here’s the Sales Tip:

Always ask who currently handles the product or service that you are selling. Their response will give you a clue on the strength of the relationship.  If they give a first name, it is probably best to move on, if they give the organization’s name, there is an opportunity to build that relationship. 

Finally, pounce on the opportunity if the prospect is unclear who provides that product or service. 

One last bonus tip: Look to be on a first name basis with all of your clients so that when you competitors come calling…and they will, your client can say “oh yes, we work with Alice, and she is great. 

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

Want Sales Profitability? Go Deep!

In this Sales Tip Tuesday we are going to discuss a great way to grow your business, build traction, and become the go-to expert in your field.

Today’s video can be found in the discovery component the Growth Matrix.

One of my former coworkers was Ryan.  Ryan was new into the industry and was looking to find the best way to grow his clientele base. 

Ryan was tenacious, and was always looking for the next deal to win.  Over the first year or so, Ryan did fairly well due to his persistence in meeting potential buyers in a variety of places. 

However, he still felt like he was spinning his wheels.  He had not found his sweet spot. 

Profitability in garbage?

It wasn’t until one of his clients, who was a garbage hauler invited Ryan to an association meeting with other garbage haulers.  Ryan was hesitant at first.  Association meetings tended to have a lot of vendors who were looking to get time with the buyers.  Plus, did Ryan really want to spend time with garbage haulers?  But Ryan did not want to refuse his client, plus he knew that his products and services could help these garbage haulers.

So, Ryan accepted the invitation and attended the event as a guest of his client.  Ryan was surprised at the lack of vendors at the event.  Not only that, but since he was invited by his client who was well connected.  Ryan gained many introductions to other garbage haulers.  

Going deep in a sector

At that point, Ryan made the decision to focus his time and energy on securing as many garbage haulers he could.

Sure enough, a short time later, Ryan found himself at another garbage hauling association meeting. But this time it was different. Ryan represented all of the key players at the association. Because of his efforts, he was seated at the head table and making a presentation to the group about how his products and services could solve the needs of other garbage haulers. 

By the following year, over 80% of the garbage haulers were his clients.  That association alone contributed to over $150,000 of his salary.  Even better, the owners of the garbage haulers became his personal friends. 

Sometimes a competing vendors would attend the association meetings, but they would quickly go elsewhere when they realized the dominat presence Ryan had within the industry.

All of this was done by Ryan choosing to go deep within a specific industry.   

Here’s the Sales Tip:

Find your industry or association that you can dominate.  It could be an industry sector – like Ryan and garbage haulers, or it would be a specific area or territory like a providing the printers for a large majority of the hotels in Bend, OR.  They key is go deep within a segment.  Be the big fish in the pond where your clients swim. 

If you do so, I am confident that you will achieve sustainable profitability for you and your company. 

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

How To Properly Transition an Account to the Service Team

In this Sales Tip Tuesday we are going to discuss how to transition your buyer to other members of your service team successfully.

Today’s video can be found in the development component the Growth Matrix.

Sean’s problem

I was meeting with Sean. Sean was frustrated.

In his company, there is a two stage selling process.  Sean makes the initial sale.  But then turns the second, and final sale, over to his service team.  

The problem was that the service team had a different personality than Sean causing the buyer to become uncomfortable with the transaction. The buyer then would back out of the sale – causing Sean to lose the account he had worked so hard to gain.

Solving the problem 

In consulting with Sean, we discussed what Sean could do to help solve his problem and onboard the clients he won. 

The first step was to insist that he was there for the second stage signing with the service team.  Sean stated that he would look to make that happen.

Second, I suggested that he prep the buyer on the personality of the sales team representative especially since their selling styles were drastically different.  Sean was a very personable guy – outgoing and easily likeable. 

Keith, the service manager wasn’t. 

He was brilliant in his trade.  But he was also a bit socially awkward, disheveled, clumsy and a bit of a know-it-all.

Guiding the transition process

I suggested that at his sales meeting with the buyer that Sean paint a picture of Keith and explain what to expect from him.  Sean did this describing Keith as fitting the stereotype of a nerdy math teacher from the movies: 

Keith would probably come into the meeting with messy hair and a pocket protector where he kept his pens and glasses. Keith would probably ask a good number of questions – some seeming obvious about the business.  In fact, Keith might actually spill or knock over something during the meeting. 

However, Keith was also brilliant and knew his stuff. He would be a great asset and would look to steer the company out of trouble. 

The results

Sean did both of those things.  He attended the second sales meeting with Keith and he painted the picture of what to expect so that the buyer would be comfortable in meeting Keith.

Two things happened.  Sure enough, Keith did come in with messy hair, and did spill his cup of water on the desk during the meeting, but the buyer, having been prepped by Sean, smiled throughout the meeting, took Keith’s advice, and signed on to become a customer. 

Here’s the Sales Tip:

So, should you look to turn over your account to another buyer, or service team member, look to make the introduction together, and prep the buyer on the personality or tendencies of the second team member.

You will find that the transition will good much smoother and you will retain more business. 

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

How Awkward Silence Can Be Your Ally

In this Sales Tip Tuesday we are going to discuss the power of silence, and how to use silence to your advantage.

Today’s video can be found in the motivation component the Growth Matrix.

There comes a point in every sales presentation where you have finished your presentation and asked for the business from the buyer. 

After that last question, there is some suspense when you are waiting for an answer. Sometimes the buyer will accept right away. Then once you have secured the sale, you stop selling and move on to a different topic. 

But what if the buyer doesn’t answer?

There can be an awkward silence.  What do you do in that situation?  

Here is my tip: use the silence for your advantage. 

Another way of saying that is Awkward Silence Is Your Ally.  

Silence can be used as a powerful tool.

Silence can create some uncomfortable tension.  Although it seems counterintuitive to create an awkward tension in a sales presentation, you can actually use it to your advantage. 

According to a Washington Post article, “Whenever negotiations reach a stalemate, the person who tends to speak first to alleviate the silent tension, gives up their leverage.”

Janet’s Story

I was working with Janet on this very situation.  Janet is a very socially person who is eager to please the buyer. However, she was struggling with her closing conversations and found that she was continuing to sweeten the deal until the buyer said yes. That was good in terms of sales, but bad in terms of the profitability margins they company mandated for her.  

When asked about the silence at the end of her sales presentation, Janet commented that short moments of silence made her uncomfortable. She continued to fill the void by giving more products or service away to the buyer.

A new tactic

We discussed a tactic that Janet could use.  When Janet finished the presentation, and there were a few moments of silence, she was to silently count in her head to 15.  She could not speak until she hit 15 – even if that meant sitting in an awkward silence for a few seconds.

Janet practiced that tip, two things occurred. 

First, she never made it to 15 before the buyer would chime in with their answer. Second, her profitability numbers shot up because the buyers who would mentally stew on the presentation for a few seconds, tended to agree to the initial terms that Janet proposed.

Although there were some awkward moments of silence in at the end of the presentation, Janet remained in control of her proposal by waiting for her buyer to respond first. All by using Awkward silence as her Ally.

Here’s the Sales Tip:

Learn to use the power of the awkward silence at the end of a presentation to draw out a response from the buyer.

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

One Key Question To Ask At The End Of Every Sales Presentation

In this Sales Tip Tuesday we are going to discuss the one key closing question I ask at the end of every sales presentation.

Today’s video can be found in the development component the Growth Matrix.

I was working with a young energetic man maned Travis.  Travis was new to sales and was struggling  with the problem of not getting the buyers commitment after giving presentations. 

Typically the buyer would say something like “This is very good, I will bring this to the board for final approval.”  Travis then would wait anxiously, only to find out later that the board did not choose his services because there was an unaddressed need. 

As you could imagine, Travis was frustrated.  

In talking to Travis, I asked him if he could end his portion of the meeting with a specific question.  That question was  “Before we go, can is there anything else that I could clarify with you about our services or presentation that would prevent you from hiring me?”  

Asking that question does two things:

1. If the buyer answers “yes” then this allows the conversation to continue and brings up any unsaid needs or concerns to the table as well as allowing the buyer to potentially address any remaining open items that need to be discussed.

2. If the buyer says “no” – there isn’t anything else they can think of preventing them from hiring you, it creates confirmation in the buyers mind that you have the answers.  

Travis took the newfound approach to heart.  At the end of every meeting, he did ask the question, “Before we go, can is there anything else that I could clarify with you about our services or presentation that would prevent you from hiring me?”  

The results

His results began to change overnight.  Buyers who had unsaid concerns now shared them at that meeting allowing Travis to answer or appease the buyer.  Also, there were several cases where the buyer made the decision on the spot and did not take it to others for consideration. 

Travis’s numbers – in both total sales, and total close percentage shot up drastically.  All by asking that one key question at the end of the sales presentation. 

Here’s the Sales Tip:

At the end of every presentation make sure to ask this question: “Is there anything I can clarify with you about our services or presentation that would prevent you from hiring me?”

It will help ensure the sales process moves forward and increase your chances of winning the business.  

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

Discovering Who Your Best Customers Really Are

In this Sales Tip Tuesday we are going to discuss understanding who your best clients really are.

Today’s video can be found in the discovery component the Growth Matrix.

I often ask my clients about their best customers. Nine times out of ten, my clients tell me about their biggest customers. 

In my experience, the biggest customers are not necessarily the best customers.

Creating three groups

When I work with sales leaders in discussing their best customers, I ask them to divide a piece of paper into thirds – creating three columns. 

At the top of the first column, I have them write the word “Profitability”. Then they are to list the most profitable companies down on that list. 

Notice I focus on probability instead of revenue size. Revenue size can be a bit misleading and the companies with the greatest revenue might also carry the most customer service support load. 

Profitability looks at the profit amounts, after expenses, you gain from that client.

For the second column, I ask them to write the words “Personal Relationship”.  Again, they are to write the companies that they have the best personal relationship with. 

Clients high on the personal relationship list tend to be the ones that provide the most references for your business (or they would provide the most referrals should you ask them),

The third column, I write the words “Solved A Critical Need”. Again, I would ask them to write the customers that they have solved a need or transformed the business. 

These companies tend to be the most loyal as you have helped pull them out of trouble in the past.  

Please note, it is ok to list the same clients in multiple categories.  

The next step - Discovery!

Once the lists are generated, I ask them to circle the clients who fall into multiple areas. Companies that are circled in two, or three areas are your best clients.

Knowing who your best clients are allows you to understand how to get more similar clients as well as look to get references and referrals from those clients.

In taking many companies through this exercise, business owners are amazed with who their best clients are. They are surprised with who is, and who is not on that list.

Increasing profitability

In talking with one business owner named Paul, Paul eyes were opened because his largest customer was actually costing him money. They were not producing a profit from that customer, there was no positive relationship with them – in fact the customer was bullying his staff, and no need was solved, rather, the company chose them based upon pricing alone. 

Paul realized that he would need to adjust the relationship with that client. After some open and honest conversations with that client, changes did occur. In six months, that client landed on the profitability and relationship list of clients.

Here’s the Sales Tip:

Maximize the profitability of your customers by taking an assessment to discover who your BEST customers really are.

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

The Biggest Mistake New Sales Professionals Make

In This Sales Tip Tuesday we are going to discuss the biggest error of new sales professionals.

Today’s video can be found in the coaching component the Growth Matrix.

Today I share a story of personal experience. 

My first professional job out of college was as a commercial insurance broker for a small company.  I was tasked with finding new clients for us to sell our insurance products. 

This involved finding business owners who would want to meet with me, looking at their current program, asking questions about that program and their current insurance relationship and getting information so I could provide a quotation.

My big mistake

Since it took a great deal of effort, and constant prospecting work to get meetings with these business owners, once I got an opportunity, I had the belief that we could get them to switch to our company. I would then look at the opportunity with rosy colored glasses convinced that they too would realize that I provided the solution.

My problem was that I was so blinded by gaining a prospect meeting, that I would not consider if, in fact they were a good prospect. This would lead me to several weeks of work, including the efforts of other team members only to find out that the prospect had no intention of moving. This cost me and my team a great deal of time and energy.  

Looking back, I needed two things:  

First, a coach or mentor that would discuss this opportunity to see if the opportunity was a real prospect who had a need to change insurance brokers, or a suspect who wasn’t interested in my services.  

Second, an honest internal assessment to see if there was an actual need of our services.  Typically, I would come up with REASONS why the company should switch to us instead of seeing if there was a true NEED for that company to make a move.  

I would find myself focusing on those reasons to convince myself and others that I had an active prospect.  This would create a great deal of wasted time and energy generating proposals and presentations that the business owner had no need to buy.  

As a more mature salesman, I realized that if I could not create a NEED for the buyer to switch, or if the buyer was going through the motions of my services, it would be best to move on from that business and find another opportunity.

My story is not unique.

I see newer sales professionals fall into the same trap of personally discovering REASONS to work on a prospective piece of business instead of uncovering and fixing the prospect’s NEED. 

The newer sales person is so excited about meeting a business owner that they become blinded with the opportunity that they can’t see that the company they met with has no intention of transferring their business to them.

That is where good coaching comes into place. 

Here’s the Sales Tip:

A great coach can help a newer sales professional understand whether a prospect really has a NEED for your product and whether the prospect is worth pursuing.

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

Four Tactical Tips to Reconnect with Your Prospects

In this Sales Tip Tuesday we are going to discuss when and how you should follow-up with your clients and prospects.

Today’s video can be found in the tracking component the Growth Matrix.

When is too soon?

During one of my speaking engagements I was asked by a young audience member when they should reach back out to a prospect?  Should it be after one day, three days, a week?

I first asked the eager salesperson if they were dating the prospect, and if so, I was the wrong person to ask for dating advice…

After a quick laugh, I asked the salesperson, when did they say you should reach out to them?  The young man did not know because he did not ask that question to the prospect.  

Creating clarity is key

By not asking the question, you create uncertainty on how taking the next step with the prospect.  And the last thing you want with any prospect is uncertainty – from either side of the equation. 

Uncertainty leads to delays or death with your proposal.  

I have four rules of thumb when it comes to following up with prospects.

1) Set a timeline for follow up

Ask them when they would like to reconnect.

This timeline is an invitation for them to continue the buying process with you.  It also grants you permission to reach back out to the prospect – and even reminds them that they had requested you respond by that certain time. 

Finally, when you do connect at that time, it shows you are diligent and follow through on the buyer’s requests.

2) Create clear expectations

If you need to provide them something – perhaps a written proposal, I look to take charge of the situation as ask, could we get this proposal to you by the 10th?

This does two things, it sets a deadline of when you would provide the proposal according to your schedule, but it also gauges the timeline of the buyer. 

If the buyer says they need it by the 8th you know the time constraints.  However, 90% of the time, the buyer will say, yeah, the 10th is good. This allows you to work, according to you and your staff’s schedule. 

A desperate move it to say, I’ll get this done first thing, but this can put unneeded stress on you and your team.  Work within your timeframes.

3) No timeline? Call back immediately

If I have left the conversation without a a timetable on the next steps – call them back right away. 

Don’t wait and don’t assume.  You can have a laugh at your expense. 

In fact, it became a running joke from one of my clients because I would frequently need to call them back to clarify a specific date.

4) Be patient, stick to your timeline

If you agree that the buyer is to call you back, say by the 10th.  Wait for that date. Don’t stress about it earlier that the 10th if you have not heard back. 

And don’t call them before that follow up date. If you do, the buyer may smell your sense of desperation.  

Here’s the Sales Tip:

Use follow-up procedures to create clear expectations and a timeline with your prospective buyer.

Creating clarity will ensure a smooth sales process moving forward and give you the best chance to win the sale.

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

A Three Part Strategy To Connect With Key Prospects

In this Sales Tip Tuesday we are going to discuss strategies on how to reach out to our clients and prospects so that they respond to messages.

Today’s video can be found in the development component the Growth Matrix.

Ever been “ghosted” on a proposal?

Harold works in real estate and was having a hard time reaching out to a developer.  The developer had asked Harold to provide a proposal.  Harold finished the proposal and wanted to share it with the developer.

Harold was getting frustrated because he had called the office a number of times to set an appointment to share his proposal.  In order to be most effective, Harold wanted to go through the proposal with the developer together, and if possible, in person. 

What he did not want to do was simply e-mail the proposal to the developer as he figured, correctly, that the developer would review it without Harold – lessening his chances of winning the bid.  

After leaving a voicemail for the upteenth time on the office phone, Harold was perplexed on what to do.  

Using a strategic approach

My approach was three fold.  First, I asked if Harold had the developer’s cell phone number.  Sure enough, that number was on his card. 

Then I instructed Harold to call cell phone number.  If he had got a message, state that he would call the developer at a set time say 3:00pm on Thursday, and if that time did not work, have the developer call back with an alternative time.   

Third, I also instructed Harold to send a text and e-mail with that same message – stating that he would call at 300pm on Thursday. Then, Harold was to wait until 3:00PM, unless he heard back beforehand.  

The results

Sure enough, Harold got a text from the developer switching the meeting to a different time.  This did two things 1) Harold got a confirmed time to discuss the proposal and 2), Harold found the avenue that the developer best communicates.  In this case, text messaging.  

Harold ended up securing the bid on that phone call.  Additionally, whenever Harold needs to chat with the developer, he knows to text him.  Sure enough, that generates a quick response.  

How to capture their best communication

One other tip I have learned, I have asked my prospects what the best way to reach them was.  After hearing that answer, I then ask, what if I can’t get you there, what is the next best way.  

The truth is, the first response is typically a shield.  It is where the person looks to collect messages.  However, the second way, the where should I reach you if I can’t get you at the first location is the real way to talk to your prospect. 

Here’s the Sales Tip:

Increase your chances of landing the sale by utilizing a strategic approach to connect with your prospects and discovering their best form of communication.

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

How to win more business through prioritizing your prospecting

In this Sales Tip Tuesday we are going to discuss how to properly prioritize prospective activities. 

Today’s video can be found in the motivation component the Growth Matrix.

I was working with a banker named Nick. Nick was recently hired and wanted to make a good impression with his boss. Nick was given a small lending portfolio to manage and was tasked with growing it by 25% in the first year.

Nick wasn’t sure where to begin.  Plus with a portfolio to manage, he did not have a good amount of time.  So, Nick asked me what to do.  

We began by listing out a number of ways to increase the portfolio.  Referrals, centers of influence, social media posts, and even cold calling. 

From there we then looked at each option and scored them in one of three ways.  

1. Do you have a relationship with the decision maker we 

2. Does the bank have a relationship with that decision maker

3. Do you know anyone who could introduce you to that decision maker?

Each method was given a score. Then we ranked the methods from highest number to lowest number:

High numbers included expanding the portfolio of his current clients.  Using other members in other departments in the branch to provide introductions, and asking personal friends about their business.

Medium numbers included asking for referrals from current clients, working with other companies in the same industry, focusing on associations that had a number of your clients as members,  

Lowest numbers included working with other centers of influence, being a part of social networking groups, or co sponsoring events.  

Funny enough, cold calls, and cold e-mails and social media posts didn’t generate a number and were left of the list. 

Where to prioritize?

So, then I asked Nick, where should he prioritize most of his time?  The answer was obvious, the higher and medium numbers.  From there, we generated a color coded menu of the best ways to contact these potential prospects to remind Nick where to focus his time.  

For the next 9 months Nick focused on those methods of gaining clients. The results were outstanding. 

Nick not only generated the highest gain in commercial loans, he had a pipeline three time larger than the next person in the division.  And, the SR VP asked Nick to present the methods for his success at the next sales board meeting.  All by choosing to prioritize his time prospecting time correctly.

Here’s the Sales Tip:

Create a system to properly prioritize your prospects. Soon you’ll stop wasting time on the wrong leads and begin winning more business, generating great results.

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

A different type of sales meeting

Is your sales team stuck in a rut? This small change can make all the difference.

In this Sales Tip Tuesday we are going to discuss how to have a different, yet very satisfying, kind of sales meeting.

Today’s video can be found in the tracking component the Growth Matrix.

I was speaking with a sales manager named Sherry the other day about their sales meetings. Sherry is normally a very positive person, however she is in the food supply industry and her sales are down because their clients are restaurants who are desperately trying to stay in business.

That has led to some pretty dismal sales meetings recently. Sherry tries to remain upbeat, but there seems to be a deluge of bad news coming her way. 

A different approach

However one morning, Sherry tried to do something different.  Sherry started the meeting by saying, she had one task for her sales staff.  That was to call each of their clients, thank them for the business and say one reason they were grateful for the relationship.  

At first this was awkward, but at the sales meeting the following Monday, Sherry asked how the conversations went. She was astonished with what she heard. Her sales staff stated that it was the best week of calls they have ever made. 

Yes, there was a small increase in sales, but better that that, her sales staff all mentioned how that call made the day for the restaurant owner, the owners valued the relationship, and how spreading a small light of gratitude helped carry them that day.  

Changing the tone of the conversation

I have another friend named Paul.  Paul heard a similar approach through one of his customers who wanted to break away from depressing sales numbers.  This company decided that instead of working on gaining another connection, their goal was to have 100 heartfelt conversations by the end of the week. 

By changing the tone of the call and looking to connect in a heartfelt way, Paul said relationships were strengthened because the client realized they had vendors who cared, not just for their business, but for them as people. 

Here’s the Sales Tip:

If your sales meetings have hit a rut, or you feel that you would want deeper connections with your clients, call them to thank them for their business, tell them one thing you are grateful for with the relationship, and have a heartfelt conversation.

The relational capital gained alone will be worth it. 

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

Grow your company by knowing what motivates your sales staff

In this Sales Tip Tuesday we are going to discuss discovering the motivating factors of why your salespeople work for you.

Today’s video can be found in the motivation component the Growth Matrix.

Sales professionals can be motivated by a lot of factors.

The key is to understand what type of factors motivate your sales professionals as well as understanding what type of environment you offer for that motivation. 

Discovering what motivated me as a salesperson

When I was thinking about entering sales as an insurance producer, Pat, a mentor of mine stated that doing well in this profession would allow me to make allowed me a couple of choices. 

The first would be monetarily.  With a solid base of clientele, I could shoot for the moon and go after large clientele to really bolster my income. 

He also stated that the second option would be for me to choose a comfortable work / family balance. In fact, that was the option that my mentor had chosen. 

It was my choice to determine what would motivate me throughout my sales career.  

Pat was right, with my profession, I did have those two directions that I could choose.  However, in the 22 years working in the sales industry, I have discovered several other key motivators for sales people.  

Additional motivating factors

Those other motivational factors include, being able to set and control your own schedule and not be tied down to working the normal business hours of an 8-5 job.  

Another is actually enjoying the product that you sell and seeing how it helps other people.  

Some people are motivated by the strategy of sales, turning sales into a game that can be won or lost.  

For my wife, and her company, they go out of their way to recognize the achievements of their staff, and are constantly giving them verbal recognition as well as gifts.  

Another, motivator that we are seeing grow in the recent years is seeing the mission of the company and how they give back to others. Look at Tom’s Shoes or Bombas socks – where for each pair that is bought, one is given.  

Perhaps the company is a non-profit, or environmentally conscious.  

Here’s the Sales Tip:

The key here is understanding why your sales people work for you – and how do you do that?  Simple, you ask them.  I think you would be surprised by their answers, as well as the variety of their answers.

Learning what motivates helps you in supporting them as well as helping your company grow and seek additional similar talent. 

That is priceless information. 

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

How to properly coach your sales team using positive encouragement

In sales coaching the basic rules of math do not apply: one positive statement does not balance out one negative comment…

In this Sales Tip Tuesday we are going to discuss how to properly coach your sales team using positive encouragement.

Today’s video can be found in the coaching component the Growth Matrix.

I am working with a sales manager who is having challenges with a member of the sales team. The sales manager needed to correct a specific behavior from the sales associate. Specifically, it was making sure that the sales associate was listening to the buyers needs. 

The sales manager started out with a praise for his associate, and then moved into a critique of how the associate was not listening to the buyer. 

The meeting did not go well as the sales associate focused only on the criticism and did not hear the praise.  Both the sales manager and sales associate left the meeting frustrated.  

The problem is that simple math does not work here. 

One compliment does not equal one critique. According to the work of John Gottman and Robert Levenson It takes 5 positive statements to equal 1 negative statement. 

So, for your corrective critiques to be heard in a positive light, you need to be on the higher side of that ratio.  That means, you need at least 6 positive statements for your corrective critique to be perceived positively. 

Our default is negative.

According to Gottman and Levenson the difficulty is people will default to a negative narrative if you do not provide enough positive feedback.  Without enough positive feedback, they will create their own negative “out to get me” stories in your mind.  stories in their minds. 

Typically, you also want to sandwich what criticisms by starting positive, before the critique, but then follow up criticism with at least 4 pieces of positive affirmation.  

Praise publicly, critique individually.

Also remember, you want to have these meetings in private, as any public criticism can escalate the math by the number of people in the room. 

The simple rule is always look to praise publicly, and critique individually. 

Here’s the Sales Tip:

Compliments aren’t equal to critiques. Aim for at least 5 positive statements minimum during a coaching meeting with one negative critique.

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

How to create a sales path for your buyers using mini-commitments

In this Sales Tip Tuesday we are going to discuss how to get mini commitments along the way to get the final commitment from a potential client.

Today’s video can be found in the development component the Growth Matrix.

The pain of a floundering buyer

I was working with a landscaping contractor who was having a hard time getting a final commitment for their backyard project. 

The contractor went through their entire sales process of meeting with the customer multiple times, creating a design, and outlining the construction process with the potential customer. 

At the proposal they asked for the sale only to be put off by the buyer who had to “think about it” and would get back to them at a later date.  

As you can imagine, the sales professional was frustrated. They had put in all of this work and time, just to be put off by the customer.

The problem was that the sales professional did not get mini-commitments from the buyer throughout the sales process.  

The power of mini-commitments

Mini-commitments are verbal or written statements from the buyer stating their commitment to buy from you throughout the sales process. 

By establishing these mini-commitments, you and the buyer are agreeing to continue to journey through the buying process to the final outcome – the sale of your goods and services. 

These are vital – because even though these commitments are binding, you have continued to plant seeds in the buyers’ mind to purchase your product of service at the end of the sales process.

Mini-commitments that work

Here are a few mini-commitments I have found useful.  Not surprisingly, these are all question based:

1. When would like to have your backyard completed? This creates a mini-commitment timeframe or end date of having the project completed.  

2. Are you comfortable with this budget amount?  This creates a mini-commitment with the buyer around pricing 

3. Do we have a clear picture of what you want us to provide?  

4. Then we have my favorite mini-commitment:  I call it the If we, then you wil mini-commitment.  For the landscaper it goes something like this.  If we do provide the landscaping updates that you want, at your price point, and have it completed by your timeline, then, will you buy from us?” 

Here’s the Sales Tip:

There are two keys to getting these mini-commitments, the first is that you are getting buy in from the buyer during throughout the entire sales process and not waiting at the final proposal and second, if the buyer cannot provide these mini-commitments to you, you know they are not fully invested in you, your product, or your service. 

This gives you the opportunity to revisit your offerings, or walk away from the buyer knowing you saved yourself a good deal of time.  Either way, this is a good thing for you. 

Remember: establishing mini-commitments lay the groundwork for a successful sale.

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

The Four Beliefs Needed to Ask for Referrals (pt 2)

Last week we entered into the first of a two part series on breaking through the barriers of asking for referrals and why we should ask for them.

Today, we are going to discuss the four beliefs that salespeople need in order to ask for referrals.

Today’s video can be found in the discovery component the Growth Matrix.

Where do we start?

If we can agree that asking for referrals is a great way to grow your business and people will give us referrals if we ask them, where do we start?

The four basic beliefs

I have found is that there are 4 basic beliefs needed for each salesperson to feel qualified in asking their customers for referrals. 

You need to have all four as each of one of these, like stepping stones, create the pathway for success.

1) Believe in your company & product

You need to believe in your company and your product. This is a given.  Hopefully you work for a company that offers a product or service that is a good quality product. 

If you don’t, I would say that you have bigger problems and you should stop what you are doing and find a company that offers products or services that you believe in.

2) Believe you’ve done a good job  

You believe that you have done a good and honorable job for your client. 

Similar to the first belief, you need to provide quality work to your current clients to be worthy of asking for the referral.

3) Believe you can be consistent

You believe can do an equally good job for another company like you are doing for your current customer.  This hits on consistency.  

Do you believe you will serve a referred prospect as well as you would serve your current client?  

If you can answer yes to the first three items above, then we move onto the fourth referral belief.  

Now the fourth and final belief tends to be the stumbling block for most people.  It is also the hardest belief to overcome. Why, because it is our own minds that create the stumbling block.  It comes down to what we internally perceive our clients think of us – which is not actually the reality.

4) Believe that good people want to help good people succeed

This causes us to sabotage ourselves into thinking that we aren’t good enough for a referral and frankly it is not true.  So, our fourth believe needs to be:

Good people want to help people other good people succeed. 

Let me say that again for emphasis.  Good people want to help people other good people succeed.  

The power of friendship

I believe we live in a work environment where your best clients want you to thrive with your business. They are pulling for you to succeed. 

Let me ask you a question: Do your best clients tend to move from business relationships into friendships?  I would imagine so, for me it certainly did. 

I valued my client relationships as more than just a business transaction. Over time they became friends. Shoot, I even invited a bunch of them to my wedding.

Now, let me ask you another question, do your friends want to see you succeed?  I assume the answer is yes.

With that in mind, why wouldn’t we ask our client relationships – our friends - for a referral knowing that they want to help you succeed.

Think about it, you ask your friends for recommendations or referrals all of the time. You might ask where is a good Chinese restaurant? Or, we have a leak in our bathroom, do you know a good plumber?  Or, where did you buy your last car and was it a good experience?  

So, if our business clients have become our friends, our friends want us to succeed, and we feel comfortable asking our friends for recommendations – which is another way of asking for a referral.  Why don’t we ask our clients and for referrals as well?

Here’s the Sales Tip:  

If you know that you work for a good company that offers a good product or service, you do good work for your customers, and can repeat this work with other potential customers. Then we surmount the fourth belief of our minds that Good people want to help other good people succeed; there should be no stopping you from asking for referrals and launching your business forward.  

If you or your company are ready to take your business to the next level, schedule your free 30-minute consultation today.

Breaking Through the Barriers of Asking for Referrals

Is it possible to have fun while growing your business?

Today we are going to look at what I think is both the easiest and most enjoyable way to grow your business.

Today’s video can be found in the discovery component the Growth Matrix.

I think it is time that we shed light on one particular word that for some reason makes most sales people shudder. This is a word that all salespeople should embrace, but instead, people back away from it much like a skunk walks right in from of them…

That word is Referrals. Look, even you cringed when I mentioned the word.  Why is that?  Why do people have such a reaction to this word?

In my mind, referrals are not only the easiest,  but also the most enjoyable way to grow your business.  

This is part 1 of a 2 part series on asking for referrals.  Today we will deal with why people do not ask for referrals, and why they should. 

Roadblocks to referrals

When I ask people why they don’t ask for referrals, typically I get one of three answers.  People say to me:  “Who would give me a referral in the first place?”

Or second “I don’t even know if my clients would be comfortable giving me a referral so I don’t feel comfortable in asking”.

Or, third, “you know what, I am sure this client is being asked for referrals all of the time, and I don’t want to bother asking them”.  

Have you heard those excuses?  Does that sound familiar to you? Have you used those excuses?  

Dispelling the myths of referrals

Let me dispel these myths for you.  Your friends, business partners, and good clients will give you referrals, if you ask them.  I will say it again, your friends, business partners and good clients will give you referrals. 

In fact, I can say personally, that I was able to TRIPLE my annual revenues when I learned to ask for referrals.  Don’t believe me, ok, maybe you will believe these studies instead.

The stats to prove it:

Texas Tech University found that 83% of customers say they’d give referrals. Only 29% of salespeople ask for referrals. 

Neilsen Research found that “People are four times more likely to buy from you when you are referred by a friend”

Or Saasquatch Data Science  discovered that “Every referral customers provide an average of 2.5 introductions”

Here’s your Sales Tip

Ask for referrals.

We need to get it out of our minds that people do not want to provide referrals to us.  When the research indicates that not only will people give referrals – in fact, on average, they will give your more than two.

Again I will say, referrals are not only the easiest way, they are the most enjoyable way to grow your business. 

If you or your company would like more information on my sales consulting services, or would like a free 30 minute consultation, reach out to me at bob@bobpaskins.com.

Maximize Your Sales Force by Knowing the Four Types of Salespeople

Have you ever wondered why the salesperson you have hired just hasn’t seemed to work out for your company?

Today we are going to look at four distinct personalities of salespeople and how to make sure you pair them correctly with your business.

Today’s video can be found in the COACHING component the Growth Matrix.

In my experience, there are four specific types of salespeople.  And each type thrives in a specific selling environment.  Let me give you a basic overview of each one.  

The Hunter - new growth

The first is the HUNTER.  The Hunter loves going out each day to find new customers.  Hunters thrive in an environment of autonomy with the knowledge that they will eat what they kill.  Once they win the business, they look to move on to their next opportunity.

Hunters aren’t concerned with relationship management with current clients – frankly they don’t have time for that as they have already moved on to the next hunt.

Hunters are great for companies who are looking for new customer growth.

The Farmer - cultivation and retention

The second type of salesperson is the FARMERS.  Farmers are almost the exact opposite of hunters.  Farmers are great cultivators of relationships and work to make sure their current clients are happy.

The Farmers goal is customer retention – keeping the clients they have. Their growth is considerably slower as they rely on their customer base  and typically only expand through referrals or introductions.

A Farmer’s primary objective is current customer satisfaction.  

The Engineer - technical data

The third type of salesperson is the ENGINEER.  The Engineer loves the technical aspect of the sale.  They will take a deep dive into the product and understand everything they product can do and do for the customer.  Sales conversations with them are very technical and can involve a great deal of data or metrics.  Engineers thrive with a very technical selling process, partnering with a buyer who also needs to know everything about the product or service as well as what that product can directly do for them.

The Soldier - delivering results

The fourth type of salesman is the SOLDIER.  Soldiers do well when they have a specific set of tasks in front of them. Soldiers will look to complete that set of tasks in a timely fashion and have a feeling of accomplishment when their tasks are done. 

In a sales setting, Soldiers thrive when they are provided a set of qualified generated sales leads. They will diligently work each and every lead and deliver results based upon their objectives.

Matching with the right sales role

Now salespeople can show the traits of more than one category, but each salesperson does have a dominant trait.  As a business, your job is to determine what salesperson trait works best for your company or your specific product, and then to equip your staff with those types of salespeople.  

Here’s the Sales Tip:

Know all four types of salespeople. Then pair the proper type of salesperson to the corresponding sales role within your company.  Matching the sales person and their role within your organization will dramatically influence your results as well as creating an environment where your sales staff can best succeed.

If you or your company would like more information on my sales consulting services, or would like a free 30 minute consultation, reach out to me at bob@bobpaskins.com.

The Number One Rule in a Sales Presentation

When you meet with a potential customer are you leaving out this critical step?

Today we are going to look at what I consider the number one rule in a sales process.

Today’s video can be found in the Development component the Growth Matrix.

What is the number one rule in the sales process? 

Simply this – ask for the business. 

It is so simple right, but I find it amazing how many people do not ask for the business.  In fact, I have heard from potential customers who said they didn’t chose the particular vendor simply because the salesperson did not ask for the business.  

The social contract.

An article presented by Impact Business Partners states that 90% of customers will not buy unless you ask for the sale.  

There is a human psychology to it.  It’s almost like a social contract.  Customers want to be nudged in the direction of the sale. 

Think about this for a moment.  Consider a fast food restaurant – most people will wait until they are called upon by the sever before they place their order.

The punctuation mark.

Asking for the sale is like a punctuation mark at the end of the sales process.  You need to ask for the sale, or your presentation is incomplete.  

I saw this first hand.  I was shadowing a younger salesperson.  They did a good job going through the proposal – but when they got to the end, there was a silence.  Something was missing. 

Simply put, the salesperson did not ask for the sale.  What followed was an awkward silence with no real direction of where to go next. The punctuation of the meeting was missing.  

At that time, I stepped in and simply asked for the business.  Sure enough, we walked out with the account.   Punctuation mark done.  Permission Granted.  Sale complete.  

Always be asking.

Actually, let me up the ante right here. 

Personally, I believe that you should ask for the sale after every meeting with the potential customer. Yes, you may not get the sale, but you are already putting in the back of the Buyer’s mind that you are here to win their business. 

Typically, in the early portion of the process, I will use an If / Then statement such as… “IF we able solve your problems that you presented at a reasonable price point, THEN we expect to win your business.   In this case the IF/THEN ask, at minimum, sets the table for future meetings.  

Learn when to stop.

Finally, When they say “Yes” shut your mouth.  Reliving a painful story from my past.  We had the opportunity to work with a large trucking firm.  I will not give the name away, but the company had three letters in its name. 

Anyway, midway through our presentation, the customer agreed to our terms and the sale was complete.  The punctuation mark was there.  However, we had not gone through all of the additional features our company provided, so we continued on yammering about all the features of our program.

Halfway through this portion of our speech, the customer changed his mind.  He interrupted us by saying, “I told you yes already, but you kept yammering on about your services.  While you were doing that, I began to doubt that you would listen to my needs, so, I have reversed my decision and have decided to go with the other team. 

Our team left the office empty handed and devastated.

Here’s the Sales Tip:

When you meet with a potential customer, make sure to ask for the business.  Whether it is at your final sales presentation, or early in the process, you need to ask for the sale at every meeting. It is the punctuation mark of the sales process.  And when you have won the business – stop selling.

If you or your company would like more information on my sales consulting services, or would like a free 30 minute consultation, reach out to me at bob@bobpaskins.com.

How to Beat Your Competition

Frame your next presentation for a big win by gaining the edge on your competition. How? By asking the right question.

Today we are going to look at how knowing your competition can lead to a big win.

Today’s video can be found in the DISCOVERY component the Growth Matrix.

I get asked frequently if salespeople should know who they are competing against on their bids? 

My answer is a resounding yes!

Knowing who you are competing against provides vital information for you.  

Here are four things that knowing your competition gives you.

1) Know what they can & can’t do

If you know who you are competing against, you know what your competitors can and cannot do.  You know if they focus on Enterprise business, or small to midsize business.

You know what their capabilities are, and where they are lacking.  You know their selling strategies and how they sell their product or service.

2) How to differentiate yourself

Knowing who your competitors are allows you to build your arguments and create differentiation factors that showcase your product or service in a positive light. 

You can build your arguments and create differentiators which show your product or service in a positive light.

3) Avoid being blindsided

I have heard from countless salespeople that they lost an account because they thought that they were the only bidder. 

In my way of thinking that is foolish and irresponsible. 

Wouldn’t you want to know who else is competing on the account instead of assuming that you would be the only bidder?  

4) Display confidence in your offer

Asking if there are other vendors being considered actually shows confidence in you and your product.

Many people think that knowing who the competition is a sign of weakness. In my opinion, it shows confidence – though you need to react appropriately based upon your answer.

Your response should not be to recoil back, but rather confidently showing that they are a wise and prudent buyer for considering other options. 

I have even heard the buyer ask, yes, we are thinking of considering another bidder, do you have any suggestions? This is music to my ears as I gladly give them a name of someone that we know we can beat.  

So how do you ask if there is completion for you bid?

I tend to use the question, “Is there anyone else that you are considering?  If so, who are they?”  This is a softer way of approaching the question and makes you look like you are doing your due diligence just like your buyers.

Here’s the Sales Tip  

Ask if there are going to be competitors on the bid. You show yourself to be confident, and you gain the edge by knowing how to frame your sales presentation. It is the prudent thing to do and will lead to a win.

If you or your company would like more information on my sales consulting services, or would like a free 30 minute consultation, reach out to me at bob@bobpaskins.com.

How to Run a Successful Sales Program

Running a successful sales program doesn’t have to be a mystery. All you need is the right tools.

Today we are going to look at how to structure a good sales organization.

Today’s video can be found in the ACHIEVEMENT component the Growth Matrix.

When I work with sales teams, they often bring me in to fix one specific problem.  It could be anything from not having enough clients, or redoing their sales process.

However, after rolling up my sleeves and working with them after a while, I discover that there are actually additional issues with in their sales program.

Companies might think they have one problem, when actually their initial problem stems from another problem or multiple problems.  

This reminds me of a story back in college. 

At the end of the year, we needed to go in and disassemble the bunk beds in the dorm room. 

Being a college student, I had a total of four tools.  A hammer, a flat headed screwdriver, a Phillips screwdriver, and a pair of pliers.  The board of the bunk beds were constructed with hex bolts. 

So, I grappled with my pliers and tried to loosen those bolts.  As I was doing it, I was very ineffective. The pliers could only grab two sides of six sided bolt – and as I was twisting to loosen the bolts, I was stripping the edges, making it harder for me to get my next grip.  

It’s all about having the right tools.

Conversely my neighbor was speeding through the disassembly.  In watching him work, I immediately saw why. My neighbor had a socket wrench. 

With his wrench he was able to find the right size socket for the hex hut.  Additionally, when he put the socket over the hex bolt, all six sides of the socket were able to work together and loosen the bolts. 

In fact, he had disassembled the entire bunk bed in the time that I was able to loosen one bolt.  He had the right tool for the job. Once he was finished, I asked if I could borrow his socket wrench, and I finished my disassembly in a matter of minutes.  

The power of the Growth Matrix.

That is one of the main benefits of the Growth Matrix.  Within the GROWTH Matrix, we look at six distinct areas of the sales program – giving a comprehensive look at the entire program.

COACHING - DEVELOPMENT - MOTIVATION - ACHIEVEMENT - TRACKING - DISCOVERY

Then we use the six sided process to comprehensively study the entire sales program. 

The Growth Matrix is not a one or two sided gadget to address looking to solve one objective – like increasing sales, rather a multifaceted system to give a comprehensive study of the entire sales program.

Here’s the Sales Tip  

Businesses struggle when they try to just tackle one specific problem at a time.

Businesses thrive when they use a multifaceted system to do a comprehensive study of their sales program.

If you or your company would like more information on my sales consulting services, or would like a free 30 minute consultation, reach out to me at bob@bobpaskins.com.

Protecting Your Company Culture

We all know we build cultures from inside the company - but how often do we think about the external forces that can influence it?

Today we are going to look how the clients you bring in can affect the company culture.

Today’s video can be found in the DEVELOPMENT component the Growth Matrix.

When companies talk about culture, they mainly focus on the leadership or the people within the company.  However, what can be neglected is how bringing in clients can affect the company culture.  

As a leader it is important to not only focus on company culture within but to carefully assimilate the client culture you want. 

New customers, especially larger new customers can change the dynamics of the sales and support team.

A hard lesson learned

I learned this lesson the hard way.  I was referred into a large opportunity by one of my other clients.  I trusted the referral source and took on the project.  Plus, that one client alone produced enough revenue for me to hit my annual sales goal.  

However, I did not do my research well. 

It wasn’t but 2 weeks when I noticed a change in our company.  This new client was belligerent to the support staff, yelling at them over the phone and writing harsh emails to them. They were bullying everyone with their size and their seemingly importance to our company.  When the phone rang, our service staff would silently pray it was not this customer on the other end.

Even though I had several talks with the leadership of that client, about treating our staff respectfully, their behavior did not change.  

The internal effects

Additionally, I also saw that the staff’s work on the other clients suffered because this larger client was taking time and upsetting our team.  Support staff members were absent more causing their additional work to pile up. 

Team members who were naturally friendly with one another were now snapping back and forth with other members of the team.  All because of this new client.

Finally, we had to let them go, because even though they provided a great deal of revenue, the cultural impact was not worth having them as a client.  

Do the research, protect your culture

Looking back, I realized that I should have done some due diligence beforehand.  If so, I would have discovered that they constantly were going through service providers – and even my referring client had initially told me of their behavior. 

Yet, I thought that I would be the one to fix them.  Plus, what a great revenue win for the company right?

What happened instead was that bringing this client on hurt the culture of our company.  Eventually it was repaired, but it took about six months to mend.  

Here’s the Sales Tip  

Client culture can affect company culture. 

Before bringing a new client in, ask the question how will bringing this client in effect the culture of your staff? And how well will the client assimilate into your company’s culture. 

If you or your company would like more information on my sales consulting services, or would like a free 30 minute consultation, reach out to me at bob@bobpaskins.com.

The Real Difference Coaching Can Make

Everyone loves a money back guarantee. What if I told you there was one in your business?

Today we are going to look at the importance of having leaders in your organization routinely sit down with their sales team members.

Today’s video can be found in the COACHING component the Growth Matrix.

I want to talk about a vitally important, but often overlooked component of the sales process.  

In fact, this component is proven to have a money back guarantee.  This component leads to a 26% rise in revenue and often provides a 7 times return on investment.  With that type of ROI, you would think that most to all companies do this, but in truth, only 18% of companies do this effectively.

What is this component? The Component I am referring to is Coaching.

Coaching defined:

Coaching is partnering with another team member to work any barriers with their job performance and to help them remove those roadblocks. 

Oftentimes, it is that perspective …that second set of eyes and ears….which will provide the key to unlock the obstacle and put them on the pathway to success.  

Another way to say it is:

External Coaching unlocks your employee’s internal potential.

A firsthand story

Here is a firsthand story of how coaching can be an eye opening and changing experience.  

I Partnered with a client who brought me in to speak to the team – but also to provide one-on-one coaching with their sales force.  They wanted me to focus on one of their team members who, for some reason, was struggling.

His name was Dave and Dave wasn’t hitting his sales goals.  In fact, over the last three months he was only at 66% of his goals. Now Prior to joining the firm, Dave tested well as a good salesman. Plus, he had no problem going out and knocking on doors. 

The power of individual coaching

After meeting with the team, I met with Dave individually. We quickly developed a rapport and I asked him about his job and why he was struggling with his goals.  Dave believed in the product, believed in the company, and was getting good leads.  He just could not close out the sales.   

I asked about the customers.  And that is where his whole tone changed. The company he worked for sold to high end homeowners - Basically millionaires and multi-millionaires. 

Dave said that upon visiting these potential customers, he would notice that the garages the potential clients had were bigger than any house he had ever lived in.  Additionally, the cars that were parked in the garages were more expensive than any house he ever lived in.  

Dave shared with me that he could not relate to these types of buyers.  He stated that he was from a lower middle class family out in Podunk Washington. Dave thought to himself that they have all of the money in the world, what problems do they have?  What could I offer them?

I continued to probe by asking  Dave, who initially reached out to whom?  Was it you, or was it them.  Dave said for those high end clients, they would answer an advertisement or call in for an appointment.

Unlocking internal potential

This led me to the following question.  These millionaires reached out to your company because they have a problem and think that you might have the solution right?”  “Yeah” Dave replied. “Well, I continued, – isn’t that what good salespeople do?  Don’they solve problems for their customers? 

I paused for a moment and asked. “How would it feel for a guy from PoDunk Washington to help solve these millionaires problems? At that point, it clicked for Dave.  He immediately sat up in his seat, smiled and said.  Pretty good.  

That changed everything.

In three months Dave went from underachieving his sales goals to exceeding it by 36%. He was able to move past the obstacle of the fact that his clients were very well off, to focus on the opportunity that he could solve their problem.  

Dave’s story is a prime example of how coaching can offer an outside perspective to uncover personal barriers that limit your success.

Here is the Sales Tip.

Meet with your sales staff on a routine basis.  Or if you are a salesperson, ask your supervisor if they can coach you.  Because External Coaching unlocks your employee’s internal potential.

If you or your company would like more information on my sales consulting services, or would like a free 30 minute consultation, reach out to me at bob@bobpaskins.com.

Creating a Strong Sales Pipeline

Ever been caught with no prospects in your pipeline?

Today we are going to look at the importance of making sure you consistently have prospects in various stages throughout your sales cycle.

Today’s video can be found in the ACHIEVEMENT component the Growth Matrix.

Have you ever looked at your sales pipeline and realized that there were no prospects?

Perhaps you have putting your head down and driving hard to win deals, that once those deals have been completed you look up and realize that there are no good prospects to pursue. 

Worse off, with a sales cycle that takes weeks if not months, you know that you might not be closing deals for a while.  It is a sinking feeling.

The Corkscrew Sales Cycle

I call this type of behavior the Corkscrew sales cycle.  It begins when you realize that you don’t have any prospects in the pipeline, so you put a great deal of focused energy discovering those prospects.  Then those prospects move through your sales process and you make a proposal to win the business. 

Then you look back into the active prospects are realize there is a shortfall.  This causes you to get behind on your sales numbers, which leads you to feverishly prospect once again.  You are continuing down this corkscrew and sinking lower and lower in the process.  

The “Farming” Analogy

I come from a farming family and I asked my uncle about how he keeps up the farm.  My uncle said that some farmers get in trouble because they only focus on the current season of the crops – such as planting season.  But the good farmers know that you have to constantly consider all four seasons – not just the one you are in.    

The same goes for sales. So, taking my uncles farming analogy to heart this is what has led me to the Four Stages of a Fertile Sales Pipeline.  Here are the four stages.  

1 - Plant the Seeds

Simply put, this is spending time looking for brand new opportunities to prospect.  

2 - Cultivate the Crops

Nurturing your prospects through the sales process, as well as protecting them from the “evil weeds” of your competitors.  

3 - Harvest the Opportunities

Simply put this is making the sales presentation and winning the business.  

4 - Till the Soil

This is a very important step where you assess your current performance and make adjustments or improvements to increase next year’s results.  

Here is the Sales Tip

When working with my customers, I tell them that they should be focusing on all four stages of the pipeline on a weekly basis, making sure that every week, each stage is being addressed. 

Plant the Seeds. Cultivate the Crops. Harvest the Opportunities. Till the Soil.

By doing this, you will minimize the chance of a seasonal dry spell, or find yourself entering the ups and downs of corkscrew sales cycle.
 

If you or your company would like more information on my sales consulting services, or would like a free 30 minute consultation, reach out to me at bob@bobpaskins.com.

The Lifeblood of Your Business: Tracking your numbers!

Is your business “gas gauge” working properly?

Today we are going to look at the importance of tracking your sales metrics so you can see how you are progressing towards your goals.

Today’s video can be found in the TRACKING component the Growth Matrix.

In working with 100s of companies, I am often amazed by one fact.

I will ask sales people, or sales manager them how they are tracking their sales and growth.  You what they do?  Most times they show me their shiny CRM system.  

I then ask them, what percentage of their team uses that system, or how current is the data in the system?  At that point their smile melts away. 

These companies are not alone.

In a study done by Sales Acceleration, 92% of middle market companies said they have a customer database system.  Only 30% use it to its potential.

I find that head scratching. 

How are you able to track your metrics of prospect in your sales cycle?  How do you know your hit ratios?  Are there prospects out there that are dying on the vine because you have not reached back out to them?

The truth is you don’t know if you don’t track your numbers!

Are you using your “gas gauge”?

This situation reminds me of one of my college friends.  He would constantly call on the side of the road saying that his car ran out of gas.  

Now the problem wasn’t that he didn’t have money for gas.  The problem was that his gas gauge was broken, so when he started the car, he never knew how much gas he had in the tank. 

He might remember filling the car up last Monday, but since his gas gauge didn’t work, he wouldn’t know how much gas was left. 

Occasionally when he filled up, he would write the odometer mileage down on a piece of paper on the odometer knowing that his car could safely travel 200 miles, but then he would forget where he wrote that number – and sure enough run out of gas once again.  

The lesson of the broken gas gauge.

I share that story as an analogy.  Companies that don’t track their numbers in an automated tracking system or CRM are like my friend who didn’t have a working gas gauge in his car.

They are thinking or hoping they have enough in the pipeline to hit their goals at the end of the year, but they really aren’t sure.   

Here’s the Sales Tip:

Insist on having a fully functionally tracking system in place.  Make sure it is utilized by everyone and has current data. 

Also make sure it is simple to use, because salespeople traditionally are not the most organized, and will put off something that is confusing, onerous and takes a number of steps. 

I know, I am one of those sales professionals.

That is why I am known to say – Tracking your sales numbers is the lifeblood of your business - letting you know exactly where you are, where you need to be, and if you have enough prospective activity to get there. 

If you or your company would like more information on my sales consulting services, or would like a free 30 minute consultation, reach out to me at bob@bobpaskins.com.

Five Key Components To A Good Sales Process

How’s the health of your Sales Process?

Today I’ll cover how to grow your business with an effective sales process with five easy steps.

Today’s video can be found in the DEVELOPMENT component the Growth Matrix.

Kevin was feeling bad.

His business had grown nicely but he was doing more work than he had bargained for. His work week ballooned to 80 hours a week and he was missing out on precious time with his family.

He couldn’t even remember the last time he took a vacation.

The truth is Kevin is not alone. You probably know a Kevin. 

Shoot, you might even be a Kevin.

Searching for a solution.

I asked Kevin about hiring managerial staff.

He had but he found that with the new manager, he needed to manage them and their workload so, in essence now his was doing their job, along with all of his responsibilities.

So after three months of managing that person – as well as doing redoing some of their work, he let them go and found himself stuck in the same position.

The missing piece.

When it came to company processes, since Kevin had managed the company since its inception, he did not have a written game plan that he could share with his managerial staff.

What Kevin needed to do was to implement good sales process and then teach these processes to his managerial staff.   

The truth is good sales companies have good sales processes.

An effective sales processes builds the framework and allows the business to grow.

Here are five suggestions for creating the proper sales processes:

1. Write them down. 

You need to move it out of your head and onto a piece of paper or computer file.  Your new managers are not mind readers – they don’t know the business like you do, but they can learn it through a sales process. Do it in a step – by – step manner from initial activity until the process is completed.  

2. Make it easily teachable.

The sales process needs to be easily teachable to your management team.  And take note here -  probably teach it more than once.  So make it easily teachable. 

The ultimate goal here is to transfer the workload off of your plate onto your managers.  Similar to the Chinese proverb.  If you give a person a fish, you feed them for a day.  Teach the person to fish, you feed them for a lifetime.”  Make your sales process teachable. 

3.  Keep it simple – do not overcomplicate the issue.

Overcomplicating the sales process typically means that you don’t ever complete the process because there are always more situations to consider – or that will need to be added to the sales process. 

As a good rule of thumb, focus on a process which can encompass 80% of the workload – knowing that the remaining 20% is either an outlier, or typically follows one situation or client.  Oh, and beware of acronyms.  Too many business acronyms are sales process killers. 

Consider this example:  Once you have the UMD, we transfer the NPF into the MSG and insert it into the CRM so the CPU can give us the MBR.  – Oh and I need it done ASAP.  How many people does this sound vaguely familiar at your company? 

Keep your sales process simple.  

4. Keep it in one source or place.

I don’t know about you, but I have worked with managers or owners who walk me through their sales process, only to come to a roadblock where they had to pull out another 3 ring binder to reference another sales procedure.  This might lead to a third, or a fourth source.  In fact, with one of the companies I worked with, when we completed the sales process, the person had three different files on their computer and an additional four binders on their desk.  One source the Sales process.

5. Execute on these processes for at least 12 months.

I have worked with companies that created these processes, and then scrapped them after 3 months, only to recreate new programs and retrain the staff. 

This led to one exhausted management team.  Sales processes take a minimum of 10 months to determine their effectiveness.

Give them time.  

Here’s the Sales Tip: 

Creating written, simple processes, which can be found in one location and are easily teachable to others will greatly increase your ability to entrust other managers within your company. 

And executing these processes for a minimum of 12 months, you will be able to create a gameplan to help you and your sales team.

Remember Good Sales Companies have good sales processes.

If you or your company would like more information on my sales consulting services, or would like a free 30 minute consultation, reach out to me at bob@bobpaskins.com.

Increase Revenue by Setting Yourself Apart from the Competition

What do you do that uniquely sets you apart from your competitors? 

Today we are going to discuss three specific ways you can powerfully differentiate yourself in the marketplace. 

Today’s video can be found in the DISCOVERY element of the GROWTH MATRIX. 

When I meet with companies, I like to ask them this question:

What do you do that uniquely sets you apart from your competitors?  

Typically I get these types of responses.  See if you have heard any of these.

• “We have the best people”

• “We offer the best customer service”. Look at this, we have won these great internal awards.

• “We have a state of the art safety process”

• “Our products are made with the best materials”

• “Our company has been around for 175 years.”

• “Our owners are committed to the company”  

I can almost see you shaking your heads.  I am guessing you have heard these before?  Or, and I don’t mean to get personal here, have used these statements before?  Yes, truthfully, so have I. 

There are two main problems when companies use these lines to talk about why people buy from them.  

Problem #1: It is something everyone says

For instance – we have the best people.  Everyone says that.  I mean who is going to say.  “Our people are fantastically average.”  “We got our people after they have been discarded from three other companies.” Nobody is going to do that.  Although, it would be refreshing and honest to hear. 

Problem #2: It is something that everyone has heard.

Consider it from the buyers’ perspective.  Let’s say a buyer is getting three bids on some metal containers. If one vendor after another comes in spouting the same pitch “our containers are made from the best materials” the buyer will become glassy eyed and only hear a sound like Charlie Brown’s teacher in the old cartoons:  WAA WAA, WAA WAA, WAA WAA

The truth is… if You don’t know what differentiates you from your competitors, your customers won’t know differentiates you from your competitors.  

When we look at finding the distinct value of why companies buy from us we need to ask the question.  What makes us different or unique?

In order to do this, we look at three types of factors that can differentiate us from other companies.  

1. Quantifiable factors (based on specific numbers or statistics). 

2. Qualitative factors or statements specific to your own materials, processes, or designs.  

3. Personal factors. Specifics about you, your experience, and the customers or industries you work with.  

I worked with a Bread company.  They were struggling to separate themselves from the pack because they were using common clichés instead of client catching differentiators.  

I will give you an example of the difference in each category.

Use numbers wisely

Instead of saying “Our customers really like our products ”. You can use a quantifiable differentiator such as, “Our customer return rate is 94%.  That is 24 points higher than the national average customer return rate.”  

In this case we used both numbers and a comparison of numbers to differentiate ourselves from our competitors.  

Add value with specific details

For the qualitative factor, instead of saying, “we have a state of the art safety process”. You could say, “To guarantee our products are gluten free, we built a separate structure which is dedicated only to producing gluten free products.”

How much more powerful is that?

Transparency goes a long way

Here is the personal factor.  Instead of saying “Our owner believes in the company.”  You could say, our owner believes in the company so much that he would fly you out to our mill where you could see the bread being made and ask him any question about the bread making process.

I am confident that replacing common clichés with client catching differentiators will drastically increase your revenues.

Here’s the sales tip: If You don’t know what differentiates you from your competitors, your customers won’t know differentiates you from your competitors.

If you or your company would like more information on my sales consulting services, or would like a free 30 minute consultation, reach out to me at bob@bobpaskins.com.

Beware of the Shiny Object Syndrome

Chasing a prospective client outside your wheelhouse can be dangerous.

I’ve seen too many businesses fall prey to what I call the “Shiny Object Syndrome” when they moved precious resources away from their CORE business.

Today’s video topic can be found in the DISCOVERY element of the GROWTH MATRIX.

Shiny Object Syndrome happens when the company sees something that is an outlier from their core business.

This outlier, or shiny object potentially could bring in a large amount of revenue, but in order to go after it, you would have to take valuable recourses away from what you successfully do to go after that shiny object.  

The problem is two fold: 

1) You aren’t sure if you can obtain this shiny object – or even if you get the shiny object, know if it will be good for you

2) By taking valuable resources away from what you do well, this will which diminish your return on your Core business that currently makes you good money.  

(spoiler warning)

A sad but true story of Shiny Object Syndrome

I saw this firsthand with a company who reached out to me for help. This company specialized in manufacturing – and did it well. 

One day one of the owners of the company came into the office with an idea. His neighbor is the owner of a large trucking business and he thought that trucking industry would be a good new avenue to pursue. In fact, his neighbors trucking account would be large enough to offset the cost of developing this new branch of the company.  

Unfortunately, this company significantly underestimated the both the cost and the time it would take to rebrand a portion of the company to go after his neighbors trucking account. 

Three years and over a million dollars later the company only obtained one client – and it wasn’t even the neighbors large trucking prospect, rather a smaller trucking client which soon became unprofitable.  

The REAL cost of S.O.S.

In the meantime, by taking their best people away from their manufacturing division, company revenues decreased significantly.  They lost focus on their successful CORE business to pursue that shiny object of the trucking prospect.  

Here’s the sales tip: Beware of the shiny object syndrome.

Don’t get distracted by a large potential prospect well outside of your revenue wheelhouse.  Instead focus your time and resources on your CORE business.  The part of the business that you do well and make you good money.

If you or your company would like more information on my sales consulting services, or would like a free 30 minute consultation, reach out to me at bob@bobpaskins.com.

Six Strategies For Getting Out Of A Sales Rut

Have either you or your business felt stuck in a rut?

In my 22 years of sales experience – I have worked with more than 100 hundred companies. Do you know that all of them faced the same problem at one time or another?

At one time or another all of these companies got stuck in a sales rut. Watch the video below to learn how to get unstuck.

Now these ruts took on different forms. 

For some companies, their sales had plateaued and they could not seem to find a way to get to the next level.  For other companies, their sales went up and down more times than a roller coaster, while some companies started off fast, but saw their sales drop off.

In studying these companies further, I found that there were SIX MAIN COMPONENTS that caused companies to get stuck in a rut.

See if any of these problem areas resonate with you.  

1 . MOTIVATION

This is where companies strayed away from their CORE VALUES that made them originally successful.  Furthermore, companies struggled with articulating their differentiation factors or did not communicate their value proposition to their potential customers.  

2 . DISCOVERY

Companies lost focus on the scope of their ideal clientele.  Additionally, they failed to pursue more of those types of clients that made them successful or profitable.

3 . TRACKING

Companies did not accurately or completely track their sales metrics, fully implement their CRM system, or properly hold their sales people accountable to those metrics.   

4 . DEVELOPMENT

In this component, companies are lacking strong sales processes, have the wrong people in the wrong spots in the organization, or do not have a healthy sales culture.  

5. COACHING

Coaching is often disregarded within the organization.   Company management does not meet individually with the sales team members to help them improve their performance or to overcome any personal or professional roadblocks.  

6 . ACHIEVEMENT

Where corporate sales goals and individual sales goals were not met.  Plus, there was no forecasting to plan what the company would look like two years, or five years down the road.  

Seeing these problems, I created the GROWTH Matrix:

The GROWTH MATRIX is a comprehensive consulting program designed to elevate sales people, sales processes, and sales performance to DRIVE SALES GROWTH.  

Through the GROWTH MATRIX companies will now have a focused vision, know who their target clientele are, have a stronger sales team moving in the same direction, put better processes in place and track the sales metrics, so that they can move out from being stuck in a rut to a place of consistent revenue growth.   

If you or your company would like more information on my sales consulting services, or would like a free 30 minute consultation, reach out to me at bob@bobpaskins.com.

The Four Things You Can Control During These Uncertain Times

In this time of certainty, there are a lot of things that are out of your control.

However, there are things that you can control during this season of unrest that will help your personal development today. This can be found in the COACHING element in the Growth Matrix.

Good sales coaching, or coaching in any manner, looks beyond professional development.  It also looks into personal habits and development.  During this time of social distancing, or social sequestering, there are a number of business items out of your control. 

However, I would also look to encourage you to consider four factors that you can control. 

When I meet with one of my mentors for a mentoring session, he starts every conversation around four main questions: How are you eating, how are sleeping, are you consistently exercising, and are you personally growing? 

Once those four questions are answered, then we move into our mentoring meeting.  But he first sets the table with those questions.  Often, when I am not right, I find that if I am lacking in one of those three areas which effects my mood, my decision making, and my work effectiveness.   

Let’s look at these closer:

1. What are you eating or putting into your body?

Nutritious food is both an energy source as well as making sure your body has the nutrients needed to best fight off viruses and infections.  Eat well and drink plenty of water. 

On the other hand, I don’t know if you are like me, but when I fill myself with junk food, or are constantly filling myself with unhealthy snacks, I feel sluggish, lethargic and pretty dull. 

Also, and this goes without saying, don’t consume too much alcohol.  Remember, you control what you put into your body. 

Make good choices!

2. Are you getting enough sleep?

With the professional world slowing down for most people, this is the time to catch up on your sleep.  I know that watching Netflix can be a good source of escapism – however, consider getting back on a good sleep schedule.  Finding those consistent 7-8 hours of sleep what your body needs. 

I find for me; my decision making is significantly impacted if I do not get enough rest.  I also become easily irritable, quick to anger, and considerably less productive.  Look to go to bed at a reasonable hour and get good sleep.  For the most part, YOU can control your sleep habits.

3. Are you exercising?

Although there is social sequestering, you can still find time to exercise.  Go outside for a walk, find an exercise program you like on the internet – there are thousands of them – or dust off that piece of exercise equipment that has been sitting unused in your garage for the past couple of years. 

Personally, I need to exercise as it gets my blood pumping and is a healthy release of my pent up stress and energy.  Because, for me, if I don’t routinely exercise, my stress and pent up energy will be releases – and not in a healthy way.  

4. Are you growing personally or professionally?

We have three school aged boys at home.  They can look at this settling at home as an extended break, however, both the school district, and my wife and I have different ideas.

Funny thing is, if we are looking to impose a learning behavior on them, shouldn’t we look at our own personal development and growth during this time as well? 

Perhaps you could take some of your extra time to professionally grow, or perhaps you could develop a new skill or start a new hobby.  This is something that you can control during the time where work is put on the backburner.  

Remember: you can still control (some) things.

So, during this time of uncertainty and unrest, remember you do have control over several decisions.  I have listed four of them which are crucial to me.  Make sure to take control of what you put in your body, get enough sleep, routinely exercise, and make sure that you find ways for personal development.  

If you or your company would like help learning how to start, or continue, personal development through coaching, reach out to me at bob@bobpaskins.com.

Moving From Product Inundation to Sales Innovation

Most companies are doing sales training wrong.

Today we are going to look at what companies typically do for sales training and what they should do instead. The tips I provide can be found in the TRACKING element in the Growth Matrix.

Forbes did a study in 2018 and found that on average companies spent 20X more money on paper, than they did on the sales development of their employees.  At first that seems shocking, but when you dig a bit deeper, you can see how that would be true.  

When I work with companies, I always ask to spend time with both the sales leadership team and key salespeople.  I do this to gain two different viewpoints within the company. Gaining these perspectives also help me look to shape my program to meet the needs of both groups of people.  

A true story: I am currently working with a broker. 

When I asked the brokerage team about sales training, they stated how they frequently have their vendors come in and tell them all about the products they have to help out the broker. 

Great detail is taken in explaining all of the features of the product and what the features could do for the end customer.  Later, I asked the management time about this as well.  Sure enough they said the same thing.  The vendors make sure the brokers are up to date with the products to best help the customer.  

Probing further I asked if the company provided sales training to the brokers how to discover new potential opportunities, or if they worked on tactics to turn a prospective customer into a client.  The management team shook their heads.  

I then stated, that what the brokerage was doing was actually not sales training.

That surely got their attention!

I continued to say, what the brokerage was doing was something I called Product Inundation.  Product inundation occurs when outside sales vendors share everything about their product to the sales team.  The sales vendors dictate the sales training.  However, their primary role was not for the brokerage to increase their business, rather that the broker would sell the vendors process.  

What the brokerage needed to do was to move from Product Inundation to Sales Innovation.  Sales Innovation is sitting down with the sales team to look at acquiring new opportunities and then turning that prospective opportunity into a client.  This actually helps the brokerage sales team to be more effective and brings more business to the company.

What is surprising is the how many companies claim that product inundation is actually sales training.  A similar Forbes article found that 95% of sales training dollars are spent on product inundation while only 2% focused on finding new clients and 3% focused on the closing skills is takes to turn prospects into client.

Product Inundation is not sales training.

We need to move from that to Sales Innovation and give your salespeople the necessary tools needed to acquire new opportunities and close out more business.

If you're looking to grow your business and sales team, reach out to me at bob@bobpaskins.com.

The Three Elements Needed For A Successful Sales Story

So, how do you create a story that can sell?

Today we are going to look at the The Superpower of storytelling and the three things every good selling story MUST have. All three are needed to move the buyer from merely interested prospect to a captivated client.

This can be found in the Discovery element in the Growth Matrix.

A Hubspot survey stated that after a presentation 63% of participants remember stories, only 5% remember data.  With that statistic in mind, I highly encourage salespeople to use ay many stories as possible to help sell their products.  

But how do we construct these stories?  In my mind, a good sales story needs to have three key components.

The first component is a problem that needs to be solved.  All good stories have tension or some drama. Think a moment of your favorite movie or book. I guarantee that in that book or movie there is a problem that needs to be solved. In fact, usually that problem arises in early in the story.

The same should occur in our selling stories. The problem needs to be identified. If there is no problem, then there is no story – or at least not a compelling story.

The second component is the actual solution. The actual solution is simply the product or service you provide. When your product or service is then implemented, the customers problem went away.  

The third component is called the emotional solution. The emotional solution is the change that has occurred once the actual solution was put in place. 

Emotional solutions are transformative. They carry weight and often evoke a response. This is the part of the story that makes them so memorable. People hear the emotional solution, can picture themselves in it, and want that change as well. 

Combining all three components should create a powerful story roughly 6 sentences in length.

The selling stories should last no longer than 30-40 seconds. If they go longer than that, people begin to lose interest and tune you out. 

Part of my sales training is to teach people how to create, design, and rehearse these stories. Ideally, you want to have several different selling stories at the ready for your prospect meetings so that you can select the right story that would address their immediate problem.

If you're looking to grow your business and sales team, reach out to me at bob@bobpaskins.com.

Follow the 90 Minute Rule

In this Sales Tip Tuesday we are going to look at and discuss what I call the 90 Minute Rule. This can be found in the ACHIEVEMENT component of the Growth Matrix.

Eric had a tough sales year. For the year he only hit 40% of his sales goals. Seemingly everything went wrong. Opportunities he thought he would land didn’t go his way. Other prospects decided to push out their acquisition to the following year. Even a couple of his current clients shut their doors or were acquired by bigger companies. All told, the year was very disappointing and Eric was losing his confidence in his sales abilities.

Eric knew that he could sell, but something was missing. Out of the five years with the company, this was the first one he had not hit his numbers. Eric was in a funk.

In this video Bob shares The 90 Minute rule. The 90 minute states that salespeople can only focus on losses for 90 minutes. During that time they should look to see where improvement needed to be made and learn from the experience. After that though, salespeople should put the loss behind them and focus on the next opportunity.

Eric did just that. Although he just added a bit more flair. Eric went out to his garage and found a large firecracker. He then wrote 2020, the year he did not his sales goals, on the firecracker, and shot it into the air. Eric gleefully laughed as the firecracker exploded taking his disappointment away with it. After that, Eric shifted his mindset and began focusing on the next opportunity.

Here is the sales tip. As a salesperson, you are not going to win every deal. Or, you may not hit your sales goals every year. Realize that happens to every salesperson. Don’t dwell on the losses. Your job is learn from the experience, look to see where improvements can be made, and move on to the next opportunity. You need to follow The 90 Minute Rule.

One other sales tip, if you had a great year. Savor the moment, celebrate your success with others, but it is equally important to move on to your next opportunity as well. I have seen many salespeople bask in the glory of the prior year for too long and miss out on opportunities in the following year.

If you're looking to grow your business and sales team, reach out to me at bob@bobpaskins.com.