 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 |
Posts Tagged ‘pain’
All of the assessments and personality typing I’ve taken over the years points to the reality that I am a strategist. On one I fall in between being an expert problem solver and a passionate entrepreneur. I’m probably a good mix of the two.
The point is that strategic people start at the end and back up then determine many different ways to get to that end point. For me, and the many other strategic thinkers in the world, we ask… “Where are we going?” In fact, we can’t even listen to the other details until we know where we are going. It wouldn’t make sense to us otherwise.
Why am I telling you this? Well, because I want to share why asking yourself about the end can help you begin.
I see people with a disease I will call tactical-itis. This is the strong propensity to do, do, do with little regard to what the desired outcome is. How does this happen? Actually, it’s easy. It happens when we are looking around at what others are doing. It can happen when we aren’t sure WHAT to do. It can even happen when we just want to do something.
A surefire sign of tactical-itis is lots of action and few results. Or… few results of what you want.
Here’s an example. A client called exasperated by how overwhelmed he is in his business. He’s running here, running there and his plate is more than full. I’m working and working, but my sales are down and I just can’t seem to figure this out! I need to get on that new newsletter we’ve been talking about. Let’s get that newsletter going right away.
I listened patiently and then asked a few key questions…
Q. What is your primary focus right now?
A. Attending to everything I’m committed to.
Q. What will it take to reach your sales goal?
A. Following up on old leads, finalizing the three proposals I haven’t had a chance to do, and returning calls to the five people who called last week.
Q. So what keeps you from making those calls, doing the proposals and what not?
A. All of this stuff I’m doing… that’s what!!
Very quickly, we honed in on the problem, which was not the newsletter that wasn’t implemented. It was that this super successful professional was overbooked because of a larger sales goal he set for himself. The good news is that his efforts were paying off… the bad news was he didn’t have the team and system in place to handle the new work.
His truth is that he hates to write proposals, and loves to be out and about like a social butterfly. We did some simple math and determined based on what he loves to do, the sales he has and the opportunities that are flowing in that he has the resources to outsource this pain in his bu** as he calls it.
When you begin with the end in mind, it’s easy to bypass tactical-itis. When we know we aren’t doing what we need to do or what our business needs we hold this feeling in our bodies. When we feel enough of it, we want to get rid of it. And, usually, it looks like… get me something! Let’s get moving! When we can be honest and look at where we are and remember where we are going, it’s a lot easier to get there.
Tips for Beginning With the End in Mind
- Know your destination point – get clear. Ensure this is the real destination point. Sometimes we set big goals for ourselves, create new products, companies and a host of other things not because that’s what we really want but because it can be a great substitute for what’s lacking. I wish I could say I haven’t seen this before, but it is more common than you can imagine. Before you get started ask… Is this what I want? Or do I want this because I think it will give me something else I want?
- Ignore speed limit signs & road bumps. Ask yourself, What is the fastest way I know how to get to this? When we begin to think about doing something, the opportunity to get mired down with ideas about ‘how’ to do things can appear. Let your mind work for you. Brainstorm with others to get their ideas. You will amaze yourself at how creative you can be!
- Make a plan. I’ve seen business plans that were drawn in Crayola crayons. That lady is a multi-millionaire today. Plans don’t have to be boring and stuffy. Make no doubt about it, though, you do need a general road map of how to get where you are today to where you are going. Make your plan your way knowing it will change as you go.
- Get ready. Before you go, be sure you have most everything you need. The more prepared you are the easier the ride will be. Do you have your team in place? Do you have the tools you need? Do you have ideas about how to deal with a flat on your road of success?
- Adopt a winning mindset. When you know where you are going to end up, your mindset will be a lot more relaxed. You can stop and enjoy the scenery. You know you have the people, processes and programs in place to support your journey. Your winning mindset will allow you to arrive in style… not merely slide into your destination. Working with a coach, having a buddy coach or a peer is a great way to keep your mind sharp and set to success.
The next time tactical-itis rears its head, be sure to look at the basics and begin again with the end in mind!
It’s almost embarrassing to admit how long ago I learned about proposals. Where do all of those years go? I got my feet wet in the business of proposals when I worked in the business development office of Lockheed Martin. One eye-popping gander at a proposal for a government contract, and you will be really happy about the proposals you write.
Imagine this. A 12 x 14 window-less room with lights out filled with six foot fold-up tables that line the walls. It’s dark in there, too. By keeping the lights off, we can see the 32 inch Mac monitors much easier. There’s a team of about 20 people working on different sections all at once. What are we all doing? Filling more than 32 three-inch binders with responses to the government RFP (request for proposal).
Now that I’ve filled your mind with a horror story about proposals (which is all true, by the way) surely you are feeling much better about your proposals.
Over the years I’ve noticed a few things about companies of all sizes.
I’ve noticed:
- There’s usually no proposal strategy in place, and if there is, it isn’t consistent
- The proposal process is much harder than it has to be
- Typically no one knows what the proposal “numbers” are – wins, losses, percentage and by which type of client
- There’s usually no follow-up for lost proposals, and if there is, it’s not consistent
These are just the marketing side of the house. There are many other danger points in the proposal process on the business side, including… Do we know this job will be profitable? Do we have the staff to fulfill this job as quoted? And many more… But this is only a primer, so we’ll stop there.
When I coach or teach business owners about the basics of proposals it is really exciting because this is one area where you can almost immediately impact revenue. For example, years ago when I first started working in an accounting firm the firm’s proposal win rate was an industry blockbuster at 22% (at the time industry average was a scary 11%). Using the techniques I’m going to share with you here we were able to boost the win rate to 68%. We even were able to get it as high as 75% at one point. Now that is something to get excited about!
Here are the 10 steps to improving your proposal win rate:
Step 1 – Ensure you have an ideal client profile that works for your company [link to this article on TYM blog]. If you are not proposing to the type of company that your company works best with, then you are burning daylight on booking the wrong business.
Step 2 – Create tracking for your proposals. There are lots of fancy software packages out there. I believe you can use Act! as well. I simply use a spreadsheet with the following columns:
- Prospect Company Name
- Prospect Contact Name
- Our Contact (list the names of the members on your team)
- Services Proposed
- Prospect Needs/Hot Buttons
- Date Proposal Delivered
- Date Followed-up
- Won? / Lost?
- Date of Win/Loss
- Follow-up Date
Step 3 – Go back and look at previous proposals. Pull proposals from the last 12 months. Select the proposals that you used to win business from your favorite clients. Take a look at those proposals and make a template. This is your starting point proposal.
Step 4 – Enter all of the proposals you sent out in the past year into your simple spreadsheet. Sort by Won? / Lost? and then look at the lost proposals. Follow-up on those in the next week to see where they are and how they are doing.
Step 5 – Take the template proposal and put the proposal elements in this format:
- Current problem
- How this current problem is affecting the prospect
- What solving this problem means for the prospect
- How you can solve the problem for the prospect
- The investment it will take to solve it
- Comparison of investment to what the prospect will get when the problem is solved
- Timeline for solving the problem and the methodology of how you are going to solve it (action-oriented people love this – they can ‘see’ how fast their problem can go bye-bye)
- Team that will be working on the problem
- Terms of investment
NOTE: I deliberately say “problem” here because that is the point of a proposal – to point out pain and for you to show how you can make the pain go away. However, in your proposal, you will want to address an ‘problem’ with the word ‘challenge’ because no one likes to talk about problems.
Step 6 – If your proposals currently are more about your company and less about fulfilling the proposed client’s needs and resolving their problems, then you might also need to revamp how you conduct prospect interviews. Use the sections below to ask prospects questions such as:
- What is your current challenge?
- How is this challenge affecting the organization? Do your best to quantify this – ask how much it costs the company, how it affects the team, what impact it has on productivity, etc.
- What would solving this challenge mean to the company? What could you do if you weren’t dealing with this? These are questions that stimulate thinking of what could be better and also ignite desire to take action.
- Do you have a budget in mind? If not, ask how much longer can you continue to deal with this challenge as it is?
- Do you have a timeline in mind? This will tell you how serious the company is about solving this challenge. This can also be a good place to weed out clients that are indecisive. Indecisive clients typically are not as profitable. If you decide to take on an indecisive client, be sure to add to your proposal amount for this quality!
- What will you do next after this challenge is addressed? This can be a great way to find out how you can propose for more services. Build these into your proposal in a menu format.
Step 7 – Put it all together by using the system on the very next proposal. When writing the proposal talk directly to the prospects – second person using “you” and more conversational language. Be sure you speak your customer’s language. If you work with analytical types use numbers and percentages with estimates on ROI (return on investment). If you are working with creative types, boil down large chunks of text into easy to understand graphics and tables. Add graphics where you can to cut down on text. Get creative and have fun. Once you have a good template, the hard part is over. Enjoy the process.
Step 8 – Put it out for review. Typically no one does this because no one wants to admit that they don’t know everything about proposals. Here’s a secret. There are as many ways to write a proposal as there are people on the planet. The basics of an effective proposal are the same: FOCUS ON THE PROSPECT and SOLVING THE PROSPECT’S PROBLEM. Ask a trusted colleague to read it through and give you feedback. Most people can ‘imagine’ that they are your prospect and give you sound feedback.
Step 9 – Put it into action. Take your new proposal for a test spin and see what happens. Note what worked and what didn’t then build in improvements into your proposal process.
Step 10 – Ask for feedback from your prospect after the win or loss. Ask what they liked and what they didn’t like. Ask if they have any suggestions that could make the process easier or better. You will be amazed at how people love to be asked for their opinion and how people really love to help. Plus, the bonus is that you get to look like not only do you have a great company, but you have a super customer satisfaction process!
One last word on proposals. A great designer can take your proposals to another level, too. If all of this seems overwhelming or if you don’t really have a proposal to being with, network with colleagues and see if you can snag ideas from them. If you are in an industry that has an association, call the association and see
if there are sample proposals available. If you are in a member organization, ask other members to see their proposals. The web can offer you many samples too.
Remember, this is one of the very best investments you can make in your marketing efforts. All of the time and effort it takes to propose means less if you win more of what you propose on!
Written By Debbie Mrazek
Okay, you’ve decided your sales are in poor health. How do you get your sales healthy again?
The first step is the sales examination. We’ll talk about where you are and whether the cause is internal (that means you are responsible for what’s going on) or external (that means someone else is impacting your efforts). Internal issues could include fear or lack of certain skills or tools needed to be successful. External forces could point to something in your business or company that affects your sales. This could be anything from poor customer service to unfulfilled customer expectations. What are your sales? How do your sales stack up against your sales goals? How do you set sales goals?
Once you’ve disclosed everything about your sales life, it’s time to move to the diagnosis. Asking someone else to walk through a sale with you can give you great insight into what’s working and what’s not. You need a safe environment to explore what’s going on and then pinpoint what’s causing the pain. Choose someone who can be both objective and honest and has a successful track record in sales. The diagnosis might include something that can be quickly addressed, or it might be something that requires longer treatment. It could be a combination of two or more things. What is important is figuring out what it is and moving past it.
What’s the prescription? During this phase, we look at what you can do today to move your sales in the direction you desire. Perhaps we need to begin with goals. Sometimes it can be as simple as that. Goal setting requires a structure that can ensure you are on the right track for you and your company.
How do you keep sales healthy? Once you have a specific diagnosis, you can develop the plan to keep you from returning to that situation. A regimen is a plan that helps you turn your sales efforts into actual, measurable results. This plan outlines what you will do, how often you will do it, what you can expect from your efforts and strategies on what to do when things just aren’t going as planned. It’s a scaffold for you to develop new habits that will make sales easier and that will not only help your sales grow, but will lock in more profitable sales. It’s not enough to grow sales if you don’t realize more profit at the same time. Who wants to work more and make less? Not me!
Ever have a doctor who sent you out the door with a shot and a prescription? Now, how many of you take every one of those pills you are prescribed. We start feeling better, we get our energy back and the prescription goes by the wayside. We behave similarly with sales. Once you have your regimen and you’ve tested it out and it’s helping you with your sales, it might feel like you are cured. A sales check-up can help you stay on track. Talking about what’s working and what’s not working will ingrain the process even more. After all, we all know we eventually will stop doing anything we don’t enjoy or that isn’t successful. The goal of a check up is to minimize the pain so it’s not necessary to get another shot three months, six months or even a year down the road.
So, let’s say, you’ve stuck with your regimen and we’ve talked about what’s working and what’s not and you feel good about where you are. How do you stay on track? That’s where a coach can make the difference between staying motivated and backsliding. Our clients call us the boss’s boss. Making yourself accountable to someone, even if that someone is yourself equates to bottom line success. In a lot of ways, maintenance is the most important part of your sales program. But how do you maintain your program?
The basics are the same for everyone. Apply the knowledge you’ve gleaned from the rest of the process and continue to expand your sales endurance. Like any good maintenance training program, you have to push yourself out of your comfort zone everyday – just a little. Make one more phone call, use a different sales tool, push yourself to exceed your weekly goal. Every step you take toward growing your sales repertoire makes what you’ve just learned easier. Each skill builds upon another. You can do this!
Written by Debbie Mrazek
Use this prescription to build healthy sales for your business.
Okay, you’ve decided your sales are in poor health. How do you get your sales healthy again?
The first step is the sales examination. We’ll talk about where you are and whether the cause is internal (that means you are responsible for what’s going on) or external (that means someone else is impacting your efforts). Internal issues could include fear or lack of certain skills or tools needed to be successful. External forces could point to something in your business or company that affects your sales. This could be anything from poor customer service to unfulfilled customer expectations. What are your sales? How do your sales stack up against your sales goals? How do you set sales goals?
Once you’ve disclosed everything about your sales life, it’s time to move to the diagnosis. Asking someone else to walk through a sale with you can give you great insight into what’s working and what’s not. You need a safe environment to explore what’s going on and then pinpoint what’s causing the pain. Choose someone who can be both objective and honest and has a successful track record in sales. The diagnosis might include something that can be quickly addressed, or it might be something that requires longer treatment. It could be a combination of two or more things. What is important is figuring out what it is and moving past it.
What’s the prescription? During this phase, we look at what you can do today to move your sales in the direction you desire. Perhaps we need to begin with goals. Sometimes it can be as simple as that. Goal setting requires a structure that can ensure you are on the right track for you and your company.
How do you keep sales healthy? Once you have a specific diagnosis, you can develop the plan to keep you from returning to that situation. A regimen is a plan that helps you turn your sales efforts into actual, measurable results. This plan outlines what you will do, how often you will do it, what you can expect from your efforts and strategies on what to do when things just aren’t going as planned. It’s a scaffold for you to develop new habits that will make sales easier and that will not only help your sales grow, but will lock in more profitable sales. It’s not enough to grow sales if you don’t realize more profit at the same time. Who wants to work more and make less? Not me!
Ever have a doctor who sent you out the door with a shot and a prescription? Now, how many of you take every one of those pills you are prescribed. We start feeling better, we get our energy back and the prescription goes by the wayside. We behave similarly with sales. Once you have your regimen and you’ve tested it out and it’s helping you with your sales, it might feel like you are cured. A sales check-up can help you stay on track. Talking about what’s working and what’s not working will ingrain the process even more. After all, we all know we eventually will stop doing anything we don’t enjoy or that isn’t successful. The goal of a check up is to minimize the pain so it’s not necessary to get another shot three months, six months or even a year down the road.
So, let’s say, you’ve stuck with your regimen and we’ve talked about what’s working and what’s not and you feel good about where you are. How do you stay on track? That’s where a coach can make the difference between staying motivated and backsliding. Our clients call us the boss’s boss. Making yourself accountable to someone, even if that someone is yourself equates to bottom line success. In a lot of ways, maintenance is the most important part of your sales program. But how do you maintain your program?
The basics are the same for everyone. Apply the knowledge you’ve gleaned from the rest of the process and continue to expand your sales endurance. Like any good maintenance training program, you have to push yourself out of your comfort zone everyday – just a little. Make one more phone call, use a different sales tool, push yourself to exceed your weekly goal. Every step you take toward growing your sales repertoire makes what you’ve just learned easier. Each skill builds upon another. You can do this!