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Why Are You In Sales? – Sales eXchange 20020

By Tibor Shanto – tibor.shanto@sellbetter.ca

At the end of this post I will ask you a specific question that I would love you to answer, and I thank you here in advance.

Two things happened this past week or 10 days that led to this week’s Sales eXchange being a bit different than the usual, and isn’t that what we always strive to be in sales. First is the fact that this is the 200th Sales eXchange post, and while I had given it much thought, someone asked if I will be marking the fact in any way. The person that asked me was a young person at an event I participated in recently. The event was organized to present young people with different options for their life after school.

One of the questions going into the event was “What do you want to be?” Some had very clear ideas, knowing exactly where they want to go. One young lady was determined to become a speech pathologist due to a friend she had in grade school. She structured her high school curriculum to set her up for a path of success in post-secondary school, and to her dream career. Others stated a number of different career plans, some very specific, marketing, finance, construction, software design, and more. Others were a bit more general, the young man who asked about the 200th post simply stated business. As an aside, it seems he had been spying my blog (and others) to glean ideas for his high school business class, at least someone is getting value at an early age. But in the end no one said they wanted to go into sales, not one.

Consider that according to the United States Department of Labor, there just under 14 million people employed in sales as of May 2012 in the USA. The same department pegs the number of lawyers at under 1 million, and software developers (systems and applications) also under 1 million. Yet fewer than a handful of institutions offer a degree in selling or sales.

There were a number of kids who talked about becoming lawyers, software developers, doctors, even golf pros, but not one said sales. Which begs the question that if no one sets out to become a sales professional, where the hell did we all come from? Are we progressing as a profession, or just a modern day version of post war refugee camps full of people making due while they find their next destination? Are we a repository of other professions outcasts, with the occasional diamond in the rough? After all, almost 50% of sellers do not make quota, this would not be tolerated in any other department.

So here is my ask – take a minute and think about where you are in sales as a career, how you got here, how you’re doing. Then take a minute and in the comment box below, tell me:

Why Are You In Sales?

Tibor Shanto

Things You Can’t Fix0

By Tibor Shanto – tibor.shanto@sellbetter.ca

There is a lot of pressure on sales people, from customers, prospects, managers, and self-imposed pressure. The last thing sellers should do is add to that, but they do, every day, and in the most unnecessary ways. One way is focusing on things out of their control, spending resources, energy and time on things they can never fix; at times compounding the issue because they involve others in the discussion who are just as powerless to change things, and as result more time and resources down the drain.

Highlighting things that may not be working is not a bad thing, especially when the goal is to improve the client experience, add value, and or improve sales for you or the company. An example would be being part of the feedback loop, where direct feedback from customers via front line sales is invaluable. What’s at question here are the things that sellers complain about, or choose to focus on that do not bring value or are likely to be different as a result of the exercise.

The best way to avoid this time and energy sucking is to organize and compartmentalize. Start with a blank sheet of paper, or better yet a large dry erase board. Top centre, write down your key objective, it has to be concrete and quantifiable. A specific revenue objective, landing a specific account, or just opening the door at a named account. Then write down all perceived obstacles or barrios, perceived or real. Don’t think about it too much, write it down no matter how obvious or farfetched.

Once the list is up there, look at the list and eliminate the things that are not real, those that may have been one way a year ago, they have changed but you have not. Then eliminate those things that are real and an action plan has already been put in place. What you’ll have left is a short list of real things you can change, and list of things you cannot change or get someone to change on your behalf; and it really doesn’t matter if it is real or not, because the fact that you can’t change it trumps both.

The on the list that are real, things you change or impact, commit to changing or find someone willing to take ownership, but there has to be an owner, someone accountable for the outcome, and develop an action plan, including time lines, the start and end of the process.

As for the things you can’t change, don’t let them side track you. You can either find alternative ways of addressing the issue or move on. I am not suggesting you give up, but you know what they say about I moveable objects. You should always try to figure things out, consider alternative ways, but if they do not present themselves, then wasting time and resource will only put you behind. Complaining about them or letting them prevent you from succeeding should not be an option. Maybe you need to find another prospect. You’ll be surprised how creative you can get when you approach it like this; or how much sense it may make to move on and find a real, and winnable opportunity.

At times though, I can’t help but think that some sellers focus on things they can’t change as a means of avoiding things they can, and thing that do need to be done.

What’s in Your Pipeline?
Tibor Shanto

What’s A Better Seller? – Sales eXchange 1990

By Tibor Shanto – tibor.shanto@sellbetter.ca

Last Wednesday I had the pleasure of discussing sales and selling with Charles Adler, Canada’s Boss of Talk. Charles had read my piece in the Globe and Mail on the difference between a blue-collar approach to selling and the white-collar approach. We explored other aspects of sales and successful people, take a listen, and let me know or Charles (@charlesadler), know what you think.

What’s in Your Pipeline?
Tibor Shanto

A Reactive and Bad Way to Deal with Objections (#video)1

By Tibor Shanto – tibor.shanto@sellbetter.ca

There are times when an objection is not what it seems, but by treating it as an objection we could inadvertently create a scenario and situation that is risky when it didn’t have to be. Often, prospects’ questions at critical points in the sale sound like objections, when they are just the buyer thinking out loud.

Sellers need to slow down, step back assess, then deal with the situation, statement in a way appropriate for that situation.

Take a look at what I mean. Then download the Objection Handling Handbook.

What’s in Your Pipeline
Tibor Shanto

What if you could defeat the Status Quo0

By Tibor Shanto – tibor.shanto@sellbetter.ca

All this week I have posted clips from a recent interview with Ago Cluytens, for his Coaching Masters Series. We dealt with a number of issues around selling to buyers who are traditionally referred to as being Status Quo. Being the weekend, I thought it a good time to post the whole interview for your weekend lounging pleasure.

Always interested in what you think, and whether you are more prepared to go forth and sell where many sellers and pundits fear to go. Take a look, and let me know.

If you enjoy this there are more on Ago’s site.

What’s in Your Pipeline?
Tibor Shanto

Apr 27th, 2013 Ability, Accountability, Action, Attitude, Business Acumen, Buying Process, Change Management, Client Life Cycle, Communication Strategy, Don't Wait, EDGE Sales Process, Emotion, Emotional Intelligence(EQ), Events, execution, Gap Selling, Interactive Selling, Interview, Leadership, Listening, Next Steps, Planning, Play to Win, Proactive Triggers, Sales Interview, Sales Leadership, Sales Process, Sell Better, Selling to Executives, Status Quo, Trigger Events, Triggers, Video

Accountability, Attitude, Change Management, Client Life Cycle, Commitment, Communication, Don't Wait, EDGE Sales Process, execution, how to sell better, Interview, Listening, Planning, Play to Win, Proactivity, Renbor Sales Solutions Inc., Sales Process, Sales Success, sell better, Selling to Executives, Trigger Event Selling, Trigger Events, Triggers, Video

Emotion + Risk in Getting Buyers to React and Act! (#video)0

By Tibor Shanto – tibor.shanto@sellbetter.ca

Today I feature the third excerpt from my discussion with Ago Cluytens, for one his Coaching Masters Series interviews. Today we look at the roles played risk and emotion in getting buyers to not only react, but act.

In Monday’s clip, I talked about the fact that you don’t need to waste time in waiting for an event to engage with a potential buyer, what you are looking for is the reaction, not the event. Two things that get reactions every time are risk and emotion.

But while it is true that buyers buy on emotion and the rationalize that decision, it is also true that there are other factors such as risk, stories, sounds, and other factors a seller can leverage to get a buyer to react and more importantly to act. It is easy to get a ready buyer to react and act, but you need to use many things to get a complacent buyer to engage, react and act.

Take a look:

If you would like to see the entire discussion you can either visit my You Tube channel, or go the Ago’ site by clicking here. Always open to comments and views.

What’s in Your Pipeline?
Tibor Shanto

Be Provocative in Demonstrating Results (#video)0

By Tibor Shanto – tibor.shanto@sellbetter.ca

Monday I shared a clip from a discussion with Ago Cluytens, for one his Coaching Masters Series. Today’s second clip looks at the need to be provocative in gaining traction with entrenched potential buyers.

The challenge many of in sales face is the entrenched buyer who is reluctant to look at new or alternative means of achieving his/her goals. This is usually due to the fact that they are entrenched in how they are doing things now, feels there are too many resources needed to make a change, and a host of other reasons. In order to get engagement, we need to demonstrate the results we can deliver and the positive and measurable impact we will directly deliver to their business and attaining their goals. In a WIIFM world it is about the What, not how of how they get there.

Here is more:

If you would like to see the entire discussion you can either visit my You Tube channel, or go the Ago’ site by clicking here. Always open to comments and views.

What’s in Your Pipeline?
Tibor Shanto

Why Waste Time Waiting for Events – Trigger The Reaction – Sales eXchange 197 (#video)0

By Tibor Shanto – tibor.shanto@sellbetter.ca

A few weeks back I had the opportunity to sit down with Ago Cluytens, for one his Coaching Masters Series interviews. All this week, the posts will feature snippets of the interview, below we will also tell you where you can find the whole interview, but now let’s go to the first extract.

Trigger Events are fine, but there is no escaping that you have to wait for the “event”. But here’s the deal, what you are leveraging is not the event, but the buyer’s reaction to the event. So why not take the training wheels off, forget the “event”, and learn to trigger the reaction without having to wait, with the others looking for the same sign.

Take a look at what I mean.

If you would like to see the entire discussion you can either visit my You Tube channel, or go the Ago’ site by clicking here. Always open to comments and views.

What’s in Your Pipeline?
Tibor Shanto

Short Cuts – Do it Now or Do it Later0

By Tibor Shanto – tibor.shanto@sellbetter.ca

The pressure of time, or more specifically, a lack of time, for sales professionals continues to build for sales professionals. Sales people often ask me for ways to achieve something by skipping steps or finding short cuts for critical steps of the cycle. Especial when there are specific things that have to be executed in one stage of the cycle/process before you can move to the next; some may not seem important at the time, but are fundamental to a successful sale, and there is no escaping them. In some ways in sales it is very much like the old Fram commercial, you can do it now, or you can do it later.

In an environment of declining resources and increased demands and expectations, utilization of time continues to grow as one of the most critical skills for successful sellers. Given the choice between someone who is a good seller or a good user of time, give me the time skilled individual any day. Doesn’t matter how good you are, if you can’t get around to using the skill. Notice I have avoided the term “time management”, because it is never about managing time, but about how we choose to allocate and use time for critical activities; activities are what need to be managed. In most instances, with all things being equal, it is more likely that you miss deals because you ran out of time, rather than running out of skills.

With all the pressure growing each hour and day into the depleting selling year, it is not a surprise that sellers are always seeking short cuts, or tips to reduce time. While I understand what’s driving the desire, I would caution you to focus on the objective and desired outcome(s). Better to look at a sale as an exercise in building. You need to build a solid foundation before you erect the house on top. If you rush things, opt for a short cut and start before the foundation is dry, you’re going to have to go back and do it again, do it right, which will cost time, resources and money.

One example is the propensity to present proposal way too soon, long before key facts are uncovered. I know sellers face tremendous pressure, especially when others are willing to submit at the drop of a hat, but in the end, a bad proposal is a bad proposal no matter how fast you get it in, which why so many come down to price, no foundation.

I was taught that there are five things that have to be in place in order for a proposal to be properly underpinned and solid. Sure I can submit with only four, but more times than not, I have to go back and resell that missed portion or the whole thing. Slowing me and the sale down, if not risking it all together. Again, I know there is pressure, and the other guy is in, but I am will to bet they usually win on price not based on value or the merit of the product or proposal.

The problem with short cuts in sales, is the same as the oil filter, you can do it right the first time, or you can do it later. Problem with later is that it ends up sucking up more time, money and nerves.

What’s in Your Pipeline?
Tibor Shanto

What’s Improving – Your Sales OR Orders?2

By Tibor Shanto – tibor.shanto@sellbetter.ca

As the economy continues to show hints of progress, and business picks up, it is important to understand the nature of the improvements in sales you and your company experience. Taking into account the old adage “all boats rise with the tide”, you need to be able to discern where your growth is coming from. Is it from increased sales, or just an increase in orders due to an improving economic environment; and yes Sunshine, there is a difference, much like the difference between sales professionals and order takers.

More than ever, having a defined sales process, with supporting metrics is a must. Without that, you may easily mistake increased revenues with improved sales or selling, when in reality the improvement may be organic. Increased demand, leading to an uptick in orders or improved selling, the two are very different, but often mistaken.

In fact, this is one of the risks of relying strictly on a single lagging indicator – Revenues, rather than a mix of leading and lagging indicators. In many ways you can look at it the way investors look at interest rates paid on fixed income instruments, where they back out the rate of inflation from the total rate they receive from an instrument to arrive at the real rate. Think of the organic increase in orders as inflation, and the real rate as YOUR ability to sell more or better in a given market. All sellers benefit from a rise in demand, only those who focus on selling will grow sales beyond the herd, and get more than their share of growth. Increased market share is always a good thing.

To avoid being caught, you need understand your intra-sale conversion rates, understanding if in fact you are doing a better job of converting leads to prospects, prospects to proposals and proposals to wins. By measuring these and other critical points you will know if you are just benefiting from an increase in demand – more leads, or ability to convert those leads. If you have a 4:1 lead to prospect rate, then it goes without saying that you’ll have more sales from six leads than 4, 1.5 sales vs. 1. But if your sales and selling skills improve, and you can move to a 3:1 ratio, you’ll sell proportionally more. This is important in down markets too, but people get fooled in up markets when the wind is in their sails.

Once you understand these measures, you can set goals for theses (or other) conversions from stage to stage, and benefit from the compounding effect, and increase both real and organic sales. With goals and metrics in place, it is much easier to develop and Execute a tactical plan, you will be in a position to adjust or change your model to ensure continuous growth and skills improvements.

Not knowing can create more than false comfort, it could lead you to make wrong decisions, and by the time you realize, you may be left too far behind the competition.

What’s In Your Pipeline?
Tibor Shanto

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