 I moved from working in my business to working on my business!
Jim White, Founder Savor Dallas http://www.savordallas.com |
 I found a community of business leaders who make being in business a lot more fun and less lonely.
Jeannine Sandstrom, CEO CoachWorks International, Inc. http://www.coachworks.com |
 I now have a place to be open about my business success and future challenges.
Debbie Mrazek, CEO The Sales Company Author The Field Guide to Sales http://www.the-sales-company.com |
Archive for February, 2009
Leadership is a concept that is sometimes identified only with large organizations, but don’t be fooled by this assumption. Leaders are present in every organization, at every level, and this includes small business. As a small business leader, you are probably more visible and more accessible than leaders in a large company or organization, so your skills are being watched and emulated more closely. Leadership tools and actions span quite a bit of distance, but here are five important leadership tools for the small business.
First, try “planning proactively”. In small business, it’s easy to become reactive. After all, the ups and downs of small business can be much more tumultuous and emotional since they come on quickly and affect a smaller population. But that it is no reason to avoid making plans and being proactive about problem solving. Be honest with yourself and your team about what issues could be ahead. With this, you should know the pitfalls of small business and be aware of how you can solve some of the problems you might encounter. Involve your team in problem solving at every opportunity. This will give them a “stake” in your business and the chance to participate in planning sessions.
Next, create a vision for the business. You probably have a personal vision and had one when you started the business. Does that vision still work for the business? Have you achieved the original vision? If so, it’s time to think of what the future vision is. Along with a vision, what is the mission and goal of the business? Think about these important details, write them down, and visualize them. You can make your vision part of your everyday life – and remember that a vision does not have to be reserved for the largest organizations. Here’s the biggest benefit of this exercise: leaders are visionary thinkers. When you focus on that vision every day, you’ll start to think like the visionary you are. With vision, comes leadership.
Third, you must share your vision with your family, friends, and most of all, your small business team. This is the hard part. As a small business owner, entrepreneur, and leader, the vision is probably a part of you. With large organizations, the vision is usually a shared one to begin with. But your small business was your idea – it’s your “baby” and a vision that concerns it could be personal. And that is difficult to put out there for everyone to see. But you’ll notice that by sharing that vision, you are letting your team become a part of it and live it every day just as you are. Post the vision around the workspace and keep your pride in ownership. By sharing the vision, you’ll truly become a visionary leader. You’ll find yourself making decisions based on the vision, and leading the team to do the same thing.
Fourth, be sure to manage and lead – and know the difference between the two. Small business leaders are usually in the position of wearing two hats, that of the manager or supervisor, and that of the leader. Management is the day-to-day, short-term direction that you provide. Your management may include dealing with customer and employee issues, vendors, orders, and even front line work. You may find yourself scheduling, managing projects, and hiring employees. But don’t forget to go above these things. Provide direction through your vision. Take time to coach employees on their performance. Cheer them on for good work and gently correct them for not-so-good-work. Show your team that you can manage but that you are also a leader who will take them to the next level.
Finally, be willing and able to change. Small business leaders have pride in ownership. The business you created is close to your heart – and it can be difficult to change. But be aware that change will come whether you want it to or not. Don’t get stuck by not changing to meet new employee, customer, and market needs. Examine your systems and operations and make the determination if they are really working or not. Most of all, accept suggestions for change from your team. Open the floor to new ways of doing business. After all, your team may become more intimately familiar with your business, operations, and customers than you are. By being willing to change and open to suggestion, you are proving your leadership.
If your small business needs a “shot in the arm” or if you are just starting out, keep these five leadership tools in mind at all times. Employ them every day and watch your organization grow.
Copyright 2009 Bryant Nielson. All Rights Reserved.
Bryant Nielson – Learning & Development Expert – assists executives, business owners, and top performing sales executives in taking the leap from the ordinary to extraordinary. Bryant is a trainer, business & leadership coach, and strategic planner for many sales organizations. Bryant’s 27 year business career has been based on his results-oriented style of empowering.
Subscribe to his blog at: http://www.BryantNielson.com
You may be an expert in your field and personally good at what you do, but if your intention is growing the business then you have to be able to bring on and lead others effectively. Without followers, you will be limited to doing only what you are capable of doing alone. Without committed followers, growth isn’t possible.
No matter how great the company or the job is, no one willingly follows someone for long who is guilty of the seven deadly sins of leadership:
Killer #1: EGOTISM
“It’s all about me” – my ideas, my way, what’s good for me. A head so big that no hat fits it properly, and when things go wrong or a mistake is made, “Why are you doing this to ME?”
People will walk away if their boss’ arrogance, self-serving interests and constant need to take credit for the good work of others kill their interest and enthusiasm.
Killer #2: INSENSITIVITY
Total indifference to the feelings of others. Clueless about how what you say or the decisions you make in the business affect others or impact their work or lives. Expecting people to “get over it”, and when they start complaining or try to explain their concerns…”Quit whining; if you don’t like it, LEAVE!”
People will walk away if their boss’ failure to consider their feedback and lack of empathy about what it would feel like to be hit with something unexpected kills the heart they used to put into their work.
Killer #3: UNBELIEVABILITY
Total lack of credibility. No one believes you know what you’re doing or that you’re capable of telling them the whole story, and when yet another promise is made that they know will be broken, eyes roll “Yeah, RIGHT.”
People will walk away if their boss’ failure to inspire belief makes them wary of every decision and kills their willingness to “just trust me on this.”
Killer #4: MISTRUST
Looking for hidden agendas. Second-guessing the motives and decisions of experienced people, needlessly worrying about your back and micro managing others until they finally tell you to get off theirs.
People will walk away if their boss’ failure to trust them to do what they know how to do in ways that are in the best interests of the company kills their initiative and makes them into dispassionate robots just filling time doing exactly what they’re told to do.
Killer #5: INDECISION
Putting off a decision because of uncertainty about what to do. Vacillation, procrastination, just decide SOMETHING!
People will walk away if their boss’ inability to decide one way or the other and stick to it causes confusion and frustration about what’s next and kills any hope of forward progress.
Killer #6: NEGATIVITY
Constant naysayer. No matter what anybody says or does it isn’t right. The glass is ALWAYS half-empty and the sky is ALWAYS falling, and when something doesn’t turn out… “See, I TOLD you it wouldn’t work!”
People will walk away if their boss’ consistently black mood would wipe the smile off Pollyanna and kills their desire and motivation to turn problems into opportunities.
Killer #7: PURPOSELESSNESS
Lack of focus. Distracted. Confusing activity with results. Aimless decision-making. Trying too hard to be everything to every customer and not doing any of it very well.
People will walk away if their boss’ lack of vision and clarity about the organization’s purpose and goals has them confused and kills their willingness to get behind and follow.
People don’t leave companies; they leave bosses who confuse title for real leadership. Think about it…haven’t you left a good job for the same reason? If you need great people to help your business grow and thrive then it’s a good idea to learn how to avoid committing these deadly sins.
Marilyn Lustgarten, executive coach and president of The Star Makers Group, works with leaders in good companies that want to be great! She also speaks and writes on leadership issues and organizational transformation. Contact her at http://www.starmakersgroup.com
Written by Barbara White
How do you get your employees to work together as a team? This is a question that many managers are asking.The bottom line for managers is getting the results needed, and if employees would work as a team instead of as individuals, getting the results would be much easier.
One of the most effective ways to do this is to create a working environment where your employees see themselves as part of a team and you as a manager as the coach of the team. The traditional model of supervisor and subordinates does not create a willingness in employees to take ownership of their responsibility, and become motivated to put more than minimal effort into their work. The team building model, however, when effectively implemented, can produce better results, and increase participation and cooperation among the employees.
The manager has a essential part in creating a sense of team, and the approach taken is a critical factor for success. A successful model of team building can be seen in sports.
Every sports team has a coach. The role of the coach is to strategically position the players, train and coach them, and motivate them towards becoming a champion team. There are many useful analogies between a sports and a work team.
The more managers consider themselves as a coach to their team, the more the team will respond positively to their leadership.
This article explores some of the team building skills of a sports coach, and how they can be successfully applied to a workplace supervisory position
Relationship Building
Managers need to be able to build a good relationship, not only with the team as a while, but also with individuals on the team. Relationship builds an essential team building block – that of trust. Trust is vitally important for encouraging cooperation and for motivation
Availability
Managers need to be available to the team and approachable. They need to seen to be around, not shut away behind a closed door doing administration. Do your employees feel they can approach you about their concerns? Are you around enough to know and feel the pulse of the team.?
Set goals
Planning and setting goals is an important aspect of supervisory success. Does your team know what the short. mid term and long term goals are for the team? Are the goals realistic, and communicated well? Does the team have a sense of purpose and direction?
Promote participation
Managers need to be able to motivate team players to fully and willingly participate and buy in to the team purpose. It is the role of the manager to focus employees on the goals and purposes of the team, and facilitate everyone working together to get the needed results.
Share Information
Successful managers do not keep information to themselves. They keep people informed and provide them with all the information needed for them to take on a task or project.
Being a role model
Managers need to be a positive example of what they want to see in the team. That means walking the talk, having exemplary standards and consistent expectations of themselves as well as the team.
Celebrate Attempts
Coaches encourage their team to try new things and create an environment where people feel comfortable learning and trying new things. Progress and personal achievements are to be celebrated as people attempt challenging tasks.
Delegation
Coaches do not do everything themselves. Rather they view delegation as a means to develop their players, and enlarge their skills by positioning them strategically. They see delegation, not just as a means of dividing up the work, but as an opportunity of building self esteem and confidence and increasing skills
Be A Team Player
A coach doesn’t just manage the team but becomes part of the team. Don’t ask a team member to do something that you would be unwilling to do yourself.
Developing a coaching style of managing will create the team that will get the results managers want. Managers have the greatest influence on the job satisfaction on the employees they supervise. The role of supervisor means the authority to make decisions that directly impact the team. As a coach, developing team building skills will give you the power to influence and motivate your employees to participate as team players, and work as a team .
Barbara White gives training in management skills. For more articles on effective management skills, check out this Business Management Skills lens.
Written by Barbara White
A mark of a good leader is to be able to provide consistent motivation to his team encouraging them to attain excellence and quality in their performance. A good leader is always looking for ways to improve production and standards. Here are six management skills you can develop as a leader in working to create a quality effective team.
1. Observation
This is an important aspect that often gets neglected due the demands on a leader’s time and schedule. Observation and regular visits to the work environment are a priority and should be scheduled into the calendar. Observing employees at work, the procedures, interaction and work flow is foundational to implementing adjustments to improve results. To have credibility, a leader needs to be seen and be known to be up to date with what is happening in the work place.
2. Monitor Employee Performance
Employee performance needs to be monitored in mutually accepted ways. Policies and procedures need to be clear. Conferencing should be on a regular basis and not just when there is a problem. Assessments and evaluations should not be merely all formality or viewed a necessary paperwork to be done and filed away. Individual and group conferencing should be undertaken not only to monitor performance, but with the expectation of on going professional development and support. There should be frequent encouragement and clear criteria for on going goals both for the group and individual.
3. Implementation of Professional Development Programs
A good leader evaluates weaknesses and provides training and development strategies to strengthen the weaker skills in the team.
4. Demonstrates Working Knowledge and Expertise
Good leadership comes from a place of strong knowledge and experience of the production and process leading to results. If a leader does not possess all the expertise and knowledge personally, then regular consultations with experts involved in the departments should be held. This is important in order to maintain an accurate and informed overall picture.
5. Good Decision Making
Good leadership is characterized by the ability to make good decisions. A leader considers all the different factors before making a decision. Clear firm decisions, combined with the willingness and flexibility to adapt and adjust decisions when necessary, create confidence in the leadership.
6. Ability to Conduct and Evaluate Research
On going review and research is vital in order to keep on the cutting edge in business. While managing the present to ensure on going excellence in product and performance, a good leader is also able to look towards the future. Conducting and evaluating research is an important way of planning and being prepared for the future.
Excellent leadership is always pro active rather than reactive. By developing these six managerial skills builds a solid foundation for success.
Barbara White
Written By Alan Rigg
Here is a question I recently received from a home electronics and appliance salesperson:
"I sell electronics and appliances at a Sears store. My biggest difficulty is selling to a customer who does not "need" a 42" plasma screen, but just wants one. If someone feels they need a product I am very capable of selling it along with upgrades and accessories. Yet, when someone would just like to have something, the percentage of actual buyers drops off quickly. How can I close more ‘I want’ sales?"
What is the primary driver for demand for your product or service? Is it need or want ? This is an important question because the sales process can differ substantially based upon which situation you are dealing with.
The "I Need" Sale
When you are pursuing an "I need" sale, the prospect usually has one or more fairly significant problems they need to solve. If you can help the prospect solve his or her problems and provide an attractive return on investment (ROI) , you will probably make the sale.
Here are some typical steps in an "I Need" sales process:
- Asking questions to determine which problems the prospect is facing
- Asking questions to determine how each problem impacts the prospect, both professionally and personally . (This engages the prospect’s emotions, which is a critical step in motivating an individual to make a buying decision.)
- Asking questions to help the prospect quantify (associate dollar amounts or percentages and time frames with) the impact of each problem
- Comparing the price of your product or service to the quantified impact of the prospect’s problems
While "want" can certainly be a factor in an "I need" sale, in many cases the most critical factors factor are the significance of the prospect’s business problem(s) and ROI. The larger the difference between the quantified impact of a prospect’s problems and the investment required to fix the problems, the easier it becomes to close the sale. If the quantified impact is a multiple of the required investment (for example, a quantified impact of millions of dollars versus a required investment of thousands of dollars), the buying decision becomes "a no-brainer".
The "I Want" Sale
The "I want" sale has a completely different dynamic. While it never hurts to ask questions to see if a prospect is trying to solve specific problems, in an "I want" sale the prospect usually doesn’t have any compelling problems they are trying to solve . Instead, the prospect is looking for the gratification that comes from owning something they perceive as desirable.
If you decide you are dealing with an "I want" opportunity rather than an "I need" opportunity, emotion and visualization become the key drivers that will help you make the sale.
Here are some typical steps in an "I Want" sales process:
- Once a prospect tells you they want something, ask them, " WHY do you want it?"
- Once the prospect explains why he or she wants the particular product or service, help the prospect visualize what it would be like to have it…in glorious detail. Again, use questions to help you accomplish your goal. Here are some sample questions:
- How will you use it?
- Who is going to use it with you?
- How would it feel for you to be able to show this off to your friends, family, or business associates?
- How will it fit into your lifestyle?
- Once you have helped your prospect build the most vivid possible mental image of what they want, it’s time to find out how BADLY they want it . Be detached and maybe even challenge your prospect a little by asking:"(Prospect’s Name), what you’re describing really sounds great! But, is it great enough to justify investing (name the price of the product or service)?"
- If the prospect responds positively, ask:
"Will your husband/wife/significant other agree? How will you explain your purchase to him/her?"
The benefits of this approach are twofold. By helping your prospect visualize what it would be like to own the product or service they want, you engage their emotions . Then, when you ask them how they will justify the purchase to others, you are helping them build a factual case that will help them avoid buyer’s remorse (a key factor in product returns).
Conclusion
Whenever you begin working with a new prospect, it is important to determine whether they are being driven by need or want . If an opportunity is being driven by need , ask questions to determine:
- The problems the prospect would like to solve
- How the problems impact the prospect, both professionally and personally
- The quantified impact of the prospect’s problems
If the price of your product or service compares favorably with the quantified impact of the prospect’s problems, you will be likely to close the sale.
If you determine an opportunity is being driven by want , take a different approach.
- Ask questions to determine why your prospect wants the product or service. (Answering your questions will engage their emotions .)
- Help your prospect visualize (in glorious detail) what it would be like to own the product or service.
- Ask questions to determine how badly the prospect wants the product or service.
- Ask the prospect how they will justify the purchase to others. (This will help them justify the purchase to themselves and avoid buyer’s remorse later on.)
If you are detached and willing to challenge your prospects a little, you will quickly separate the lookers from the buyers and close more "I want" sales!
Copyright 2007 — Alan Rigg
Sales performance expert Alan Rigg is the author of How to Beat the 80/20 Rule in Sales Team Performance: A Step-by-Step Guide to Building and Managing Top-Performing Sales Teams, and the companion book, How to Beat the 80/20 Rule in Selling: A Step-by-Step Guide to Achieving Top Sales Performance. His company, 80/20 Sales Performance, helps business owners, executives, and managers end the frustration of 80/20 sales team performance, where 20% of salespeople produce 80% of sales.
For more information and more FREE sales and sales management tips, visit http://www.8020salesperformance.com
United we stand divided we fall! Nothing could be more true in the current state of the economy. As business grew during the last part of the 20th century everyone got the Gordon Gekko mindset of more is better, especially if it is more for me. I think that was the biggest downfall of our economy. It caused companies to cater to shareholders, and their own bottom lines instead of thinking that there is enough to go around. Enough that is to pay the people of the company, give the shareholders some sort of return while delivering a good value to the customer. Sounds pretty simple but in reality it is very hard to achieve and takes a certain mindset in and of itself to say this much is enough.
Now with the current economic downturn people are being forced to say I think this is enough for several reasons; because their customers cant afford as much of their product or they are unable to get lines of credit to float inflated business success.
So, what is the answer in the current market that can help you make it through the tough times while setting up your business for success when we come out of the recession?
The answer is very simple. Partnerships.
part·ner·ship (pärt’nər-shĭp’) Pronunciation Key
A relationship between individuals or groups that is characterized by mutual cooperation and responsibility, as for the achievement of a specified goal: Neighborhood groups formed a partnership to fight crime.
This is one of the key beliefs we have here at rapid success partners. We believe that there is enough for everyone as long as we work together on a common goal and vision.
How do you start the partnership process?
- First you need to decide what you or your company is good at – List as many things as you can to start with.
- Now start narrowing down the list to what you are really really good at. Usually you want to pick no more than 2-4 things that your company or you are the best at. – We owned a marketing agency for 9 years so we would have all the tactical things on our list as well as our strategic skills. Then number the list High to Low.
Your list may look like
Marketing Plan – 4
Company Branding -3
Leadership Development -1
Business Concepts – 2
etc.
- Now that you have a core list, you need to take your top 2-4 and segment them into areas that you could form partnerships in. If you want to go wide with your product you can build referral partners for the stuff you use to focus on. Normally you would charge a 20% fee for the business.
Using leadership for an example since that is something so near and dear to our heart, would look like this.
Leadership – Partner 3
Corporate Leadership – Partner 2
Sales Leadership – Partner 1
Small Business Leadership – US
Entrepreneur Leadership – Partner 4
Individual Leadership – Partner 5
Executive Coaching – Partner 6
Group Coaching – Partner 7
- Next you need to start filling in the partner names. Think of everyone you have every worked with that you believe shares similar values as you and would fit well with being part of your partner group.
If someone you contact believes in competition just mark them off your list and keep moving on to find individuals that believe it is easier with a village. If you don’t know of anyone you can use linkedin, yahoo groups, and google to find people that share your vision. Don’t be afraid to cold call or send cold emails. Just make sure you really could help each other. I have sent emails that just say , I don’t know why I am sending this email to you? I just believe that we share similar values and there may be a way for us to support each others goals and vision. I usually get a response…
- So now that you have your list filled in you need to go over who should focus on what part of the business. For example if you are the small business expert you need your partners to refer small business owners to you and the same goes for your partners that are good with teams or individual CEOs etc.
The process I have outlined here is a little simpler than the full process but the process is basically the same. The purpose of the process is for you and the people you do business with to huddle together and just let the people who believe enough is never enough and business is WAR fall by the way side.
To everyone who reads our BLOG I wish success and happiness in this time of fear.
PS. It is always warmer when you are cuddled up to other people who share your goal and vision than when standing alone.
Mark Ferguson – The Kind Hearted Executive – COO Rapid Success Partners
No sale can be counted upon unless the prospect is actively engaged in the sales cycle. What does it mean to be “actively engaged”? This is defined by the prospect’s willingness to commit to a next step.
What is a valid next step?
A valid next step is a specific, scheduled appointment with an agenda designed to move the sale closer to “closed”. The appointment may be in person or via the telephone, but it must be on the prospect’s calendar . Plus, the salesperson must have an agenda to advance the sale, not merely check the status of the prospect’s decision process. Finally, the purpose of the call cannot be to schedule a future substantive discussion.
While there is no guarantee that an opportunity that meets these conditions will close, the chances of securing revenue from an actively engaged prospect are far greater than the chances of securing revenue from a prospect that refuses to commit to a next step.
It is human nature for salespeople to maintain unrealistically hopeful feelings regarding contacts who are willing to talk with them on a regular basis. Often they concentrate their efforts on these contacts under the guise of “relationship building.” Unfortunately, most relationship building is nothing more than the passage of time.
If discussions and meetings are not specifically designed to advance sales opportunities, they usually are not very productive. So, while salespeople should maintain positive attitudes, to be successful they also need to be very realistic.
Salespeople can use this simple rule to validate whether or not a prospect is truly “hot”
At the end of every prospect meeting, the salesperson should determine if there is a reason to meet again. If there seems to be a reason to continue, the salesperson should attempt to schedule the next appointment BEFORE leaving the meeting.
This approach has two advantages:
1. If a prospect is truly interested in moving forward, he or she will readily grant the salesperson more time and schedule it in his or her own calendar. If the prospect does NOT want to continue the sale, he or she will hesitate to schedule more time.
Too often a prospect will say, “Call me next week to schedule our next appointment.” This is often used as a way to get the salesperson out of their office. Every salesperson has experienced prospects saying these very words, then not returning telephone calls the following week.
Some salespeople are reluctant to ask for a next step for fear that the answer is going to be “no”. These salespeople are only creating false hopes, which do NOT generate sales.
2. Putting a next appointment on the calendar before the current meeting ends ensures it can take place in a timely manner . Why is this important? Schedules can fill up, even if the follow-up scheduling call takes place just a few days later. By scheduling the next appointment before leaving the current appointment, a salesperson can come back to the prospect in the shortest possible time. The benefit of this is shorter sales cycles.
It is important to emphasize that next steps need to be structured to productively advance a sale. A scheduled visit to “check the status of things” or to “see if they are willing to consider our company” is NOT a valid next step!
Additionally, any scheduled next step must be within the normal sales cycle. A prospect that agrees to receive a call on a date outside the normal sales cycle cannot be seen to be actively working toward a purchase (though of course these calls DO deserve follow-up).
When these “Next Step” rules are followed exactly, it is not unusual to see that just a small percentage of the opportunities currently being worked by a sales team meet the criteria. This is entirely intentional!
The simple truth is that prospects for which valid next steps have been scheduled have a much greater likelihood of purchasing. These are the “real” opportunities. Tracking the number of “real” opportunities in each phase of the sales cycle will tell managers whether salespeople have enough potential business in their current pipelines to ensure future success.
By categorizing opportunities in this manner:
- Salespeople and managers will be able to separate reality from fiction and opinions from fact
- Managers will be able to assist salespeople with the prospects that truly matter
- Managers will be able to set salesperson prospecting activity expectations at a level that will ensure sufficient concurrent “live” prospects to produce consistent success
- Salespeople and managers will be able to provide more accurate forecasts
Remember, time is your only inventory!
Don’t waste your time chasing prospects that are not serious about buying your products or services. Use the “next step” test to validate whether or not an opportunity you are pursuing is a REAL opportunity.
If the prospect is willing to schedule a next meeting on a specific date at a specific time with a specific agenda for advancing the sales cycle, you have a real prospect. If your prospect is not willing to make this kind of commitment, you need to question how serious they really are…and spend more time finding real prospects!
Copyright 2006 — Alan Rigg
Sales performance expert Alan Rigg is the author of How to Beat the 80/20 Rule in Sales Team Performance: A Step-by-Step Guide to Building and Managing Top-Performing Sales Teams, and the companion book, How to Beat the 80/20 Rule in Selling: A Step-by-Step Guide to Achieving Top Sales Performance. His company, 80/20 Sales Performance, helps business owners, executives, and managers end the frustration of 80/20 sales team performance, where 20% of salespeople produce 80% of sales.
Written by Betsy Harper
Last Sunday I was in Harvard Square with 45 minutes to kill before meeting friends for lunch. So, I did what every garden-lover would do, and took myself over to the Henry Wadsworth Longfellow House on historic Brattle Street for a leisurely stroll in the beautiful gardens (and a quick check of the gift shop too!).
In the shop, I picked up a copy of Longfellow’s famous poem, “The Rainy Day.” I know you have heard the most famous line in the poem – “into each life some rain must fall.” “Hmmm,” I thought, “with what’s happening to our economy, stock market, my 401(k) and some companies I know, I think I’m living in a tsunami!”
There’s no doubt about it. Like me, many CEOs and managers are feeling the effects of the economic storm that’s out there. But I say, “every good poem deserves a good idiom,” and “every cloud has a silver lining.”
OPPORTUNITY IN CHAOS
Unfortunately, many managers have been forced to make drastic cutbacks in recent weeks. Not only have they done the obvious cutting of expenses, but many have been forced to make even more draconian ones. It goes without saying that the underperformers go first, but one manager I spoke with admitted he had to “cut into the bone” while letting go some of his sales team.
I can confirm this is happening as the level of calls to recruiters by candidates on the hunt is going up dramatically. (Trust me on this!) And, many of the candidates who are on the market are very, very talented performers.
TIME FOR AN UPGRADE
So here is the silver lining we’ve been waiting for . . . .
There’s never been a better time to upgrade your sales force! Savvy managers will capitalize on the chaotic economic scene and seize the moment to hire some of the top talent that is out there.
Here are the steps to take for you to potentially find yourself a rainmaker:
1. Assess: Honestly (and confidentially) assess your current team. Knowing that there are performers out there should give you the added security of taking a long, hard look at the numbers. Decide how many and who can be replaced.
2. Search: Confidentially start the search process. Be sure your network, your recruiters, and anyone involved understands that at this point your search is confidential.
3. Make Your Choice: Based on the performance metrics of your top performers and your ideal profile for your sales team, hire yourself the top talent you’ll need to get the numbers you need!
4. Make the Cuts: First, meet with each of the sales team who will be staying to reassure them of their value to the organization. Then proceed with letting your underperformers go. Ask your HR professional for help in this step if you need it.
5. Solidify Your Team: One thing is for sure: uncertainty will be with us for a while. It’s critical for you to be sure your new sales team is working at top performance levels. It’s critical that there be no “new” underperformers.
6. Beef Up on Sales Training: If you think your team might benefit from some additional sales training, call your favorite sales trainer, consultant, or sales guru and get on the waiting list. These guys and gals are going to be very busy, as savvy managers realize that now is the time to ensure their sales team is performing at 110%. It’s short dollars for the return on that investment.
All of this may not be quite as easy as “click here to install these updates” but I assure you it’s worth the time and effort. And that top performer you hire today may be the difference between your making your numbers or not!
Betsy Harper is the CEO and Managing Partner of Sales and Marketing Search, a nationwide recruiting firm based in the Boston area that specializes in recruiting top sales and marketing talent.
More valuable information on finding, hiring, and keeping top talent can be found at http://www.salesandmarketingsearch.com.
Sales Territory Management – How to Prioritize Your Activities to Produce Maximum Results
How you prioritize your sales territory management activities depends upon whether you are managing a territory that has existing customers, or whether you are building your customer base from scratch.
If you manage a territory that has existing customers, your first priority should be to introduce yourself to every single one of your customers. This should be a pleasant, low-key introduction along the lines of:
“I just wanted to introduce myself and see if there is anything I can do to help you.”
Then, as you are chatting with your customers, you can ask:
“Would you mind sharing with me how you think my company’s relationship with you has been going so far? What have we been doing well? Where could we improve?”
Collecting this kind of feedback is a great way to start relationships with customers. It also helps you draw any festering problems out into the open. If you can address the problems quickly, it can really jump-start your relationships with the affected customers.
This same approach can also be effective for customers that have been reducing their purchases from your company over time, or customers that have stopped ordering completely. It is never much fun to listen to people complain. But, if you can isolate and solve the problems that are causing the dissatisfaction, you can produce a rapid and substantial boost in sales.
If you find customers that are really happy with the service your company has provided, drill down (with more questions) to determine just what has made them so happy. Their answers will provide you with a template for successfully managing their (and other) accounts. Also, ask these happy customers for referrals…regardless of whether you have contributed in any way to their happiness! Happy, satisfied customers are usually delighted to share their positive experience with others.
Once you have met all of your existing customers, the next step is to identify target prospects in your territory. Start by checking with your manager. If they have been managing your sales team for any period of time, they should be able to suggest some good target prospects.
Once you have compiled a list of target prospects, determine which ones you will pursue first. Which target prospects have the greatest potential to purchase the largest amounts of products and services? Which ones are likely to be “quick closes”? If you have both types of target prospects on your list, pursue several of each type at the same time. In the words of a well-respected executive that I used to work with:
“Elephant hunting is great…but those rabbits sure taste good in between the elephants!”
When you are ready to begin pursuing your target prospects, start by asking your existing customers whether they know anyone that works in the target organizations. If they do, ask for referrals. Once you have exhausted available referrals, proceed with the other activities in your prospecting plan – but tailor these activities to attract the attention of your target prospects.
Conclusion
Effective sales territory management begins with touching base with every single one of your existing customers. Ask questions to gauge their satisfaction with their relationship with your company. If they identify any problems, work aggressively to solve these problems as your first priority.
If a customer expresses happiness and satisfaction, ask questions to determine what your company has been doing right. Use this information to create a template for managing all of your accounts. Also be sure to ask for referrals, both in general and to specific target accounts. Exhaust these referrals before you begin the other (less productive) activities in your prospecting plan.
Prioritize your activities as described in this article, and you will maximize sales growth in your territory!
Copyright 2005-2008 — Alan Rigg
Sales performance expert Alan Rigg is the author of How to Beat the 80/20 Rule in Sales Team Performance: A Step-by-Step Guide to Building and Managing Top-Performing Sales Teams, and the companion book, How to Beat the 80/20 Rule in Selling: A Step-by-Step Guide to Achieving Top Sales Performance. His company, 80/20 Sales Performance, helps business owners, executives, and managers end the frustration of 80/20 sales team performance, where 20% of salespeople produce 80% of sales. For more information and more FREE sales and sales management tips, visit http://www.8020salesperformance.com
The recession is firmly on everyone’s doorstep ready to come into your business. If you read the news or watch television you can see that the business side of the recession is accelerating faster and faster. It seems that Money and CNN have a new story every day on how the recession is impacting businesses across the globe. The one things is they never really say much about what you can do to protect your business during a recession.
Here are the top 5 things you can do to protect your business if the recession is on your business doorstep wanting to get in.
1. Evaluate all of your expenditures across everything it takes to run your business.
Find places that you can combine services, reduce services, keep older hardware, and so on. We believe in reducing things instead of reducing people in a recession if you can help it. If you do have to reduce people see if you can reduce salaries across the board temporarily so you don’t have to let people go. The worst thing that is happening now in this economy is people are getting let go so fast that they have no money to buy the things that you may produce.
2. Build an Ideal client profile and only target the people that you have a great business relationship with.
Do not waste dollars on potential customers that do not fit. This will decrease your cost of acquiring a new client during the recession. As you refine your ideal client profile contact your current clients that fit that profile and begin reinforcing your relationship with them and be sure to ask if there is anything you can do to help them utilize your product or service better or sell the products you produce better.
3. Increase your marketing and sales efforts.
This is one place that many businesses start to cut during a recession and in our opinion is a BIG BIG mistake… During a recession you need to increase your visibility because your customer or consumers mind will begin to forget about you as they are filled with news of the recession and how much they need to cut back. If they do not remember they want or need your service it is much easier for them to lump you in the OK TO CUT CATEGORY. Remember as the recession grows the cost of most advertising and other services usually decrease with the lower demand. This way it will actually cost you a lot less than you would normally spend anyway.
4. Get involved in your community.
During this time you want to be seen as a company that gives back and cares for the folks around them. This will build brand loyalty during the recession. Remember If you are a local business then stay local. Save the people in your market because they are the ones who will most likely buy your product. Recently Dennys had a free breakfast they advertised during the SUPER BOWL. It was huge hit and gained media attention all over the country. I read the comments on some of the business BLOGS and the number one comment was how people couldn’t believe someone cared about then enough in this economy to offer something free. I bet next time those people go out for breakfast they will not be going to IHOP.
5. Keep a positive attitude during the recession.
This may sound like something you would hear from your preacher or some self help or meditation book but it is really true. You need to keep a positive attitude especially if you are the leader of an organization because it will help your workers and managers focus more on the work at hand instead of the world around them. It will also make sure that any fear of being in business or not during the recession will not trickle out to your sales team, then clients and customers. If they start to get the feeling that you are unsure of your business then they will unfortunately STOP buying from you and begin to look for someone more stable.
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Article written by Mark Ferguson.
Rapid Success Partners is the leader in leadership development, business marketing strategy, and Small Business Success Workshops. Transform your business, Transform your life with Rapid Success Partners.