Are you proud of making a profit? I know I am! Today sales trainer Mark Hunter tells us why you should be proud too!
This does not mean you're greedy. What it means is you're able to deliver a very high level of value to your customers and you should be proud of it. I don't hear of professional sports teams being ashamed of their performance when they beat their opponent decisively. Of course not! They are proud of it! You should feel the same way also, since you too are a professional.
Now, this does not mean you're out to exploit people. If you are exploiting people, not only are you exercising very poor judgment, you also are showing your ignorance (it's doubtful you will be able to operate with low integrity for very long). Achieving a high level of profit merely means that you're able to deliver a high level of value to your customer, and you're able to do this while keeping your costs in line.
High profit is not bad. It's what you do with it that counts. If you're using the profits to reinvest into the business to help develop your business even more in ways that will help your customers realize even more value, then what you're doing is a real service to your customers and to your prospects. Profits are what allow companies to sustain themselves. Without profits there is no way for a company to survive. They risk either delivering an inferior product or service or going out of business.
I never cease to be amazed at the number of salespeople I meet who are hesitant about their company making a decent profit! This is ridiculous. Stop treating the word "profit" like it is profanity. Your sales motivation needs to be aligned with the realization that profit is a good thing… a very good thing!
Get more great tips and quotes from Mark Hunter, The Sales Hunter, at http://thesaleshunter.com/blog
Wednesday, June 30, 2010
Tuesday, June 29, 2010
How to Screw Up a Sure Thing
The Whetstone Group offers real advice for your sales problems. Have you ever encountered the following problem? Read on for their solution!
Problem: Tim, a software sales rep, had been having a rough day. He'd been bombarded with questions from several customers and had gotten behind on a proposal that he needed to finish before the end of the day. Then he got a call from Gene, a prospect who introduced himself by saying, "I've heard great things about your accounting software package. I saw a demo about a year ago, and was not in a position to purchase it at the time, but since then it's become very apparent that I need to integrate it immediately into my system."
"Wow," thought Tim. "This will be easy. It's about time something went right today."
Then Gene said, "I need to know about pricing and availability. And tech support is important, too. Tell me how that works."
Tim went into his pitch. He discussed tech support in detail, covered availability and other options, and explained that the price was $8000 with 30-day terms.
Gene's response was unexpected. He said that $8000 was quite a hefty price tag and he needed a couple of days to consider the purchase more carefully. He'd call Tim back next week.
Tim did a double take. "What just happened?" he thought. "This sale was in the bag, a sure thing, and now he's thinking it over? He said he needed the software right away." And that was the end of the call.
Diagnosis: Tim got lazy, plain and simple. He thought Gene was sold. All he had to do was give Gene the info he needed, then write it up. He got conned into doing a presentation without getting Gene to demonstrate why he was so excited about buying the software. The entire transaction was conducted at the intellectual level.
Prescription: Don't be lured into taking shortcuts. Don't mistake the prospect's enthusiasm for your product or service as a sure sale. Take the time to qualify the prospect and make sure he's real before you make your presentation. In Tim's case, a couple of quick questions would have made a world of difference. He might have said, "Before we discuss pricing, help me understand why this software is so important. I want to make sure the application is correct for you. Mind if I ask you a couple of questions?" Of course, you're probing for pain and one of the most important things to find out is the financial impact of not implementing a solution. Having discovered the financial impact and, assuming it was significant, you will find that the cost of the solution disappears as an objection.
Don't take shortcuts! Don't assume anything. Get the prospect involved at an emotional, not an intellectual, level. Use the system, qualify completely, and get the sale.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Problem: Tim, a software sales rep, had been having a rough day. He'd been bombarded with questions from several customers and had gotten behind on a proposal that he needed to finish before the end of the day. Then he got a call from Gene, a prospect who introduced himself by saying, "I've heard great things about your accounting software package. I saw a demo about a year ago, and was not in a position to purchase it at the time, but since then it's become very apparent that I need to integrate it immediately into my system."
"Wow," thought Tim. "This will be easy. It's about time something went right today."
Then Gene said, "I need to know about pricing and availability. And tech support is important, too. Tell me how that works."
Tim went into his pitch. He discussed tech support in detail, covered availability and other options, and explained that the price was $8000 with 30-day terms.
Gene's response was unexpected. He said that $8000 was quite a hefty price tag and he needed a couple of days to consider the purchase more carefully. He'd call Tim back next week.
Tim did a double take. "What just happened?" he thought. "This sale was in the bag, a sure thing, and now he's thinking it over? He said he needed the software right away." And that was the end of the call.
Diagnosis: Tim got lazy, plain and simple. He thought Gene was sold. All he had to do was give Gene the info he needed, then write it up. He got conned into doing a presentation without getting Gene to demonstrate why he was so excited about buying the software. The entire transaction was conducted at the intellectual level.
Prescription: Don't be lured into taking shortcuts. Don't mistake the prospect's enthusiasm for your product or service as a sure sale. Take the time to qualify the prospect and make sure he's real before you make your presentation. In Tim's case, a couple of quick questions would have made a world of difference. He might have said, "Before we discuss pricing, help me understand why this software is so important. I want to make sure the application is correct for you. Mind if I ask you a couple of questions?" Of course, you're probing for pain and one of the most important things to find out is the financial impact of not implementing a solution. Having discovered the financial impact and, assuming it was significant, you will find that the cost of the solution disappears as an objection.
Don't take shortcuts! Don't assume anything. Get the prospect involved at an emotional, not an intellectual, level. Use the system, qualify completely, and get the sale.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Monday, June 28, 2010
Quote of the Week
"One of the things I learned the hard way was that it doesn't pay to get discouraged. Keeping busy and making optimism a way of life can restore your faith in yourself." -- Lucille Ball, actress
How has the summer been for you? Have you been making sales like crazy, or have things been a little slow? If it's been a tough summer, don't get discouraged. One day, one sale, one phone call can change everything. The thing to do is keep busy and be optimistic - these things get you one step closer to that life-changing day!
How has the summer been for you? Have you been making sales like crazy, or have things been a little slow? If it's been a tough summer, don't get discouraged. One day, one sale, one phone call can change everything. The thing to do is keep busy and be optimistic - these things get you one step closer to that life-changing day!
Friday, June 25, 2010
Fail to Succeed
Sales trainer George Ludwig always gives inspirational tips in his newsletter. This article is no exception!
Identify someone you consider to be successful and ask that person how many failures he or she had before success came. I guarantee you that any successful person had to learn failure before success. That's what learning is all about: doing it wrong in order to get it right. We don't all succeed at everything we try. Most of us go through failure to reach success, just as we go through fear in order to build courage.
Weightlifting is a great example to illustrate this process of going through failure to reach success. Years ago, when I started building up my scrawny 112 pound body through weight training, my first instructor introduced me to the concept of "going for failure." I didn't think that sounded so fun-"Let's go fail!"-but my coach explained that breaking a muscle down by exhausting it totally was the best way to build it stronger. By going to failure, I prepared my muscles for greater success. I failed so that I eventually could succeed.
Life is no different. Failure is a necessary part of growing and building strength to eventually succeed. Consider the case of a lanky Midwestern boy who chopped wood for his father until he was twenty- one, but who had always hungered for more out of life. He started borrowing books and reading every evening. What he read began to inspire and motivate him to become a risk-taker in the pursuit of success. He was willing to fail in order to succeed, and fail is exactly what he did:
* At age 23 he ran as a candidate for state legislature and lost.
* At age 30 he was bankrupt.
* At age 32 the woman he loved and intended to marry broke off the engagement breaking his heart.
* At age 33 he married another woman who bore him four sons, of which three he lost because they died before reaching adulthood.
* At age 35 he ran again as a candidate for state legislature and again he lost.
* At age 47 he was selected a vice-presidential candidate and again he lost.
* At age 49 he was nominated for the United States Senate and again he lost.
The man described above, however, was elected President of the United States of America at age 51. His frequent experiences of failure gave Abraham Lincoln the resolve to handle the great challenges of his Presidency and the repeated initial failure of the Union forces. He never saw failure as a reason to stop attempting success, and he ultimately changed the course of American history.
Failure is never the end of the road. Failure is how you learn and grow. Whether it's building biceps, achieving financial freedom, becoming the best parent possible, or reaching the Oval Office: you must fail to succeed.
George Ludwig is President of GLU Consulting which specializes in helping clients like Johnson & Johnson, Abbott Laboratories, and Northwestern Mutual improve their sales performance. George is the bestselling author of Power Selling and a widely recognized authority on sales success and peak performance psychology. www.GeorgeLudwig.com
Identify someone you consider to be successful and ask that person how many failures he or she had before success came. I guarantee you that any successful person had to learn failure before success. That's what learning is all about: doing it wrong in order to get it right. We don't all succeed at everything we try. Most of us go through failure to reach success, just as we go through fear in order to build courage.
Weightlifting is a great example to illustrate this process of going through failure to reach success. Years ago, when I started building up my scrawny 112 pound body through weight training, my first instructor introduced me to the concept of "going for failure." I didn't think that sounded so fun-"Let's go fail!"-but my coach explained that breaking a muscle down by exhausting it totally was the best way to build it stronger. By going to failure, I prepared my muscles for greater success. I failed so that I eventually could succeed.
Life is no different. Failure is a necessary part of growing and building strength to eventually succeed. Consider the case of a lanky Midwestern boy who chopped wood for his father until he was twenty- one, but who had always hungered for more out of life. He started borrowing books and reading every evening. What he read began to inspire and motivate him to become a risk-taker in the pursuit of success. He was willing to fail in order to succeed, and fail is exactly what he did:
* At age 23 he ran as a candidate for state legislature and lost.
* At age 30 he was bankrupt.
* At age 32 the woman he loved and intended to marry broke off the engagement breaking his heart.
* At age 33 he married another woman who bore him four sons, of which three he lost because they died before reaching adulthood.
* At age 35 he ran again as a candidate for state legislature and again he lost.
* At age 47 he was selected a vice-presidential candidate and again he lost.
* At age 49 he was nominated for the United States Senate and again he lost.
The man described above, however, was elected President of the United States of America at age 51. His frequent experiences of failure gave Abraham Lincoln the resolve to handle the great challenges of his Presidency and the repeated initial failure of the Union forces. He never saw failure as a reason to stop attempting success, and he ultimately changed the course of American history.
Failure is never the end of the road. Failure is how you learn and grow. Whether it's building biceps, achieving financial freedom, becoming the best parent possible, or reaching the Oval Office: you must fail to succeed.
George Ludwig is President of GLU Consulting which specializes in helping clients like Johnson & Johnson, Abbott Laboratories, and Northwestern Mutual improve their sales performance. George is the bestselling author of Power Selling and a widely recognized authority on sales success and peak performance psychology. www.GeorgeLudwig.com
Thursday, June 24, 2010
Are You Training Your Customer to Do This?
Sales trainer Kim Duke does a great job of passing on sales lessons in a fun, interesting way. Today she shares a story that gave her a flash of realization on how you can improve your sales!
Recently I was grocery shopping with a long list (getting ready for a dinner party). One of the grocery store managers came over to me and asked me if he could help. Loved that!
I thanked him and said I'd almost found everything but that this location didn't have local lamb.
He said ..."Actually - our new meat manager just put out 4 packages of lamb - people have been asking for it."
We walked over to the meat department and there, shoved in a teeny-tiny corner, with NO SIGNAGE were 4 lamb roasts. (Not what I was looking for)
He tapped the roasts with a little bit of annoyance in his voice and said ...
"See - people ask for this, we put out 4 packages and NO ONE BUYS IT. It's frustrating for us."
I looked at him with a big smile and said...
"I can tell you WHY they haven't been sold."
His eyes opened wide "Please tell me!"
I explained:
1. You've never carried this product before so people are used to NOT BUYING IT.
2. NO SIGNAGE that says NEW! LOCAL LAMB
3. Lamb roasts aren't popular - the food TV shows and magazines focus on other cuts.
....and finally......
"You've TRAINED your customers to NOT EXPECT IT"
Meat manager Tom said...
" WOW - I never thought of it that way before! I'm absolutely bringing this up at our next meeting."
Are You Mad At YOUR Customer for NOT BUYING?
Be honest. I bet you've grouched and growled to yourself and others that customers weren't buying something new you've launched.
Guess what? They haven't changed their BUYING HABITS to include you. YET.
Remember - when you're launching something new, it takes time for people to switch their habit. So you'll need more exposure and time to get your new/changed product/service off the ground.
Take a look at what you've currently trained your customer NOT TO BUY.
Kim Duke is an unconventional, sassy and savvy sales expert who shows women small biz owners and entrepreneurs how to increase sales in a fun, easy, stress-free way! Learn more and sign up for her free e-zine at www.salesdivas.com
Recently I was grocery shopping with a long list (getting ready for a dinner party). One of the grocery store managers came over to me and asked me if he could help. Loved that!
I thanked him and said I'd almost found everything but that this location didn't have local lamb.
He said ..."Actually - our new meat manager just put out 4 packages of lamb - people have been asking for it."
We walked over to the meat department and there, shoved in a teeny-tiny corner, with NO SIGNAGE were 4 lamb roasts. (Not what I was looking for)
He tapped the roasts with a little bit of annoyance in his voice and said ...
"See - people ask for this, we put out 4 packages and NO ONE BUYS IT. It's frustrating for us."
I looked at him with a big smile and said...
"I can tell you WHY they haven't been sold."
His eyes opened wide "Please tell me!"
I explained:
1. You've never carried this product before so people are used to NOT BUYING IT.
2. NO SIGNAGE that says NEW! LOCAL LAMB
3. Lamb roasts aren't popular - the food TV shows and magazines focus on other cuts.
....and finally......
"You've TRAINED your customers to NOT EXPECT IT"
Meat manager Tom said...
" WOW - I never thought of it that way before! I'm absolutely bringing this up at our next meeting."
Are You Mad At YOUR Customer for NOT BUYING?
Be honest. I bet you've grouched and growled to yourself and others that customers weren't buying something new you've launched.
Guess what? They haven't changed their BUYING HABITS to include you. YET.
Remember - when you're launching something new, it takes time for people to switch their habit. So you'll need more exposure and time to get your new/changed product/service off the ground.
Take a look at what you've currently trained your customer NOT TO BUY.
Kim Duke is an unconventional, sassy and savvy sales expert who shows women small biz owners and entrepreneurs how to increase sales in a fun, easy, stress-free way! Learn more and sign up for her free e-zine at www.salesdivas.com
Wednesday, June 23, 2010
Hair Today, Gone Tomorrow
Sales expert Anne Miller shows salespeople how to use their words to get what they want - and in today's post cautions against words that can keep you from getting what you want. Read on for her expert advice!
After spending millions of her own money to win the GOP senate nomination in California, Carly Fiorina may have permanently hurt her chances of winning in 2010 by her thoughtless comment on incumbent Democratic Senator Barbara Boxer's hair: "God, what is that?...Sooo yesterday." A slip of the tongue can be fatal not only in politics but in negotiating as well.
Think about what you say when you open a negotiation discussion. Is it something like, "I am delighted that you want to do business with us. What do we need to do to get a final agreement"? OR, is it something like, "I am delighted that you want to do business with us and am happy to work out an agreement that works for both of us."?
If it is the former, you may not be risking millions of dollars on the deal, but you are definitely going to get less attractive terms than you would otherwise get with the latter statement. The first statement immediately puts you in a subordinate power position. It makes you sound desperate. It invites being taken advantage of and says, "Go ahead, walk all over me."
The second statement immediately communicates equality in power positions. It suggests that the deal could fail if it is not beneficial to you as well as to the buyer. It invites a collaborative business discussion likely to lead to a fair deal for you both. It says, "Yes, we want your business, but we have pride in the value of our services and will accept an agreement only if it recognizes that value."
Anne Miller is the author of Metaphorically Selling. Check out her site at www.annemiller.com.
After spending millions of her own money to win the GOP senate nomination in California, Carly Fiorina may have permanently hurt her chances of winning in 2010 by her thoughtless comment on incumbent Democratic Senator Barbara Boxer's hair: "God, what is that?...Sooo yesterday." A slip of the tongue can be fatal not only in politics but in negotiating as well.
Think about what you say when you open a negotiation discussion. Is it something like, "I am delighted that you want to do business with us. What do we need to do to get a final agreement"? OR, is it something like, "I am delighted that you want to do business with us and am happy to work out an agreement that works for both of us."?
If it is the former, you may not be risking millions of dollars on the deal, but you are definitely going to get less attractive terms than you would otherwise get with the latter statement. The first statement immediately puts you in a subordinate power position. It makes you sound desperate. It invites being taken advantage of and says, "Go ahead, walk all over me."
The second statement immediately communicates equality in power positions. It suggests that the deal could fail if it is not beneficial to you as well as to the buyer. It invites a collaborative business discussion likely to lead to a fair deal for you both. It says, "Yes, we want your business, but we have pride in the value of our services and will accept an agreement only if it recognizes that value."
Anne Miller is the author of Metaphorically Selling. Check out her site at www.annemiller.com.
Tuesday, June 22, 2010
The Key to Sales Success
Sales expert Brian Tracy is world-renowned for his sales and life advice. Today he shares the key to sales success - one that will help you in life too!
Learn to Listen Well
A vital key to sales success is listening. The ability to listen well is absolutely indispensable for success in all human relationships. The ability to be a good listener in a sales conversation is the foundation of the new model of selling. It leads to easier sales, higher earnings and greater enjoyment from the sales profession.
Being A Good Talker is Not Enough
Many salespeople have been brought up with the idea that, in order to be good at your profession, you must be a glad-hander and a good talker. You have even heard people say, "You have the 'gift of the gab'; you should be in sales!"
Focus On the Other Person
Nothing could be further from the truth. As many as seventy five percent of all top salespeople are defined as introverts on psychological tests. They are very easy going and other-centered. They would much rather listen than talk. They are very interested in the thoughts and feelings of other people and they are quite comfortable sitting and listening to their prospects. They would much rather listen than talk in a sales situation. Poor salespeople dominate the talking, but top salespeople dominate the listening.
Practice "White Magic" With Everyone
Listening has even been called "white magic." It is too rarely engaged in by business people. When a salesperson develops a reputation for being an excellent listener, prospects and customers feel comfortable and secure in his or her presence. They buy more readily, and more often.
Practice the 70/30 Rule
You've heard it said that God gave man two ears and one mouth, and he is supposed to use them in that proportion. Top salespeople practice the "70/30 rule." They talk and ask questions 30 percent or less of the time while they listen intently to their customers 70 percent or more of the time. They use their ears and mouth in the right ratio.
Action Exercises
Here are two things you can do immediately to put these ideas into action.
First, resolve today that, from now on, you are going to dominate the listening in every sales conversation. Become comfortable with silence.
Second, practice the 70/30 rule in every sales conversation. Listen 70% of the time and only talk and ask questions 30% of the time.
Brian Tracy is Chairman and CEO of Brian Tracy International, a company specializing in the training and development of individuals and organizations. As a Keynote speaker and seminar leader, he addresses more than 250,000 people each year. Learn more at www.briantracy.com
Learn to Listen Well
A vital key to sales success is listening. The ability to listen well is absolutely indispensable for success in all human relationships. The ability to be a good listener in a sales conversation is the foundation of the new model of selling. It leads to easier sales, higher earnings and greater enjoyment from the sales profession.
Being A Good Talker is Not Enough
Many salespeople have been brought up with the idea that, in order to be good at your profession, you must be a glad-hander and a good talker. You have even heard people say, "You have the 'gift of the gab'; you should be in sales!"
Focus On the Other Person
Nothing could be further from the truth. As many as seventy five percent of all top salespeople are defined as introverts on psychological tests. They are very easy going and other-centered. They would much rather listen than talk. They are very interested in the thoughts and feelings of other people and they are quite comfortable sitting and listening to their prospects. They would much rather listen than talk in a sales situation. Poor salespeople dominate the talking, but top salespeople dominate the listening.
Practice "White Magic" With Everyone
Listening has even been called "white magic." It is too rarely engaged in by business people. When a salesperson develops a reputation for being an excellent listener, prospects and customers feel comfortable and secure in his or her presence. They buy more readily, and more often.
Practice the 70/30 Rule
You've heard it said that God gave man two ears and one mouth, and he is supposed to use them in that proportion. Top salespeople practice the "70/30 rule." They talk and ask questions 30 percent or less of the time while they listen intently to their customers 70 percent or more of the time. They use their ears and mouth in the right ratio.
Action Exercises
Here are two things you can do immediately to put these ideas into action.
First, resolve today that, from now on, you are going to dominate the listening in every sales conversation. Become comfortable with silence.
Second, practice the 70/30 rule in every sales conversation. Listen 70% of the time and only talk and ask questions 30% of the time.
Brian Tracy is Chairman and CEO of Brian Tracy International, a company specializing in the training and development of individuals and organizations. As a Keynote speaker and seminar leader, he addresses more than 250,000 people each year. Learn more at www.briantracy.com
Subscribe to:
Posts (Atom)