pearl

Prospecting For Pearls2

By Tibor Shanto – tibor.shanto@sellbetter.ca 

Regardless of what some might tell you, there are elements of sales that are quite organic, and as a result there are lessons we can take from nature. One is that not all things that lead to real value start smoothly or simply, but as the process unfolds, the end result can be both a thing of beauty and value. That’s one way I like to look at prospecting, specifically telephone prospecting, yes cold calling.

I like to think of a cold call, the very start of an engagement with a prospect, as being very much like the start of the process in the making of a pearl. There is no denying that the pearl starts out as an irritant, an intrusion from the outside; but then over time, ongoing interaction, things develop, and where the end result is a thing of beauty and value.

Let’s be straight, I am not suggesting that you set out to irritate anyone intentionally, but at times you may not have a choice if you are going to help and win new customers. This is especially so with prospect who are removed from the market, the Status Quo, who left to their own, are not actively engaged in or thinking about buying anything, beyond “social” reach; this is usually in excess of 70% of you target market. These prospects, who are not self-declared buyers, may perceive the initial approach as a nuisance or aggravation.

I get it, cold calls are irritating, even cold calls that executed well; but I would also argue, not for the reason most think and fear. Sure bad calls are bad no matter what, but when done right, the reality is that we are making the prospect face things they have been able to ignore and burry, and avoid dealing with. They know what they have is not just far from not perfect, but not even close to ideal. It is just that they have decided that “the pain of the same is less that the pain of the change”. Initiating that change, the catalyst that leads to action, not just denying or ignoring the issue, may not be pleasant to start.

Those who a) understand that, and b) understand how they will manage the buyer experience, have the greatest success in telephone prospecting. To be successful at cold calls you need to be able to talk to outcomes and changes that will benefit the buyer and deliver the business impacts they are looking to achieve. This starts with understanding what outcomes you have been able to others in similar roles, in similar type of environments.

If you call a small fleet operator and initiate the call peaking about pains and needs they have not acknowledged, your fate is sealed before the first ring. Yet this is what most sales people and pundits go for: pains, needs, problems, (solutions), efficiencies, and all the things that prospects have turned a deaf ear to for years. Instead, you can call and speak to how you can help them get more service calls in a given day, or how you can help them extend the life of their vehicles, and improve their return on assets, or how you can help them reduce fuel costs while allowing them to wear a “green” halo. These are things not tied to pain, but to outcomes, things people are always thinking about, and more willing to hear more about.

The best sellers understand that part of their job description is “disruptive marketing”, which includes the willingness and ability to take an interruption to a conversation, an irritating grain of sand to a pearl.

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There Is No App For That0

By Tibor Shanto – tibor.shanto@sellbetter.ca 

There is no doubt that we have more tools to choose from in sales than ever.  Making things more interesting are the number of tools and apps available to buyers, and the direct impact that has had on sellers and their craft.  One can argue that the gains available to buyers have more than negated any advantages sellers gained with their adoption of technologies, leaving sellers no further ahead.  Witness the dreadful stats around the number of people in sales making quota, and the even sadder state of affairs when it comes to saas reps and quota.

Technology has definitely stream lined some sales processes, and has automated many tasks that unnecessarily consumed sellers time and energy.  One would think as a result sales productivity would have gained., but clearly not the case.  While we can talk about how and why there has been no or little gain in productivity, the bottom line remains that while we do things “more efficiently”, do them “faster”, and have greater visibility than ever into what is happening; just one thing, there is not that much more happening than before.

Many of the apps have ended up doing things that many reps just refuse to do, even when they have to be done to succeed, or menial tasks, that expensive professional resource are too valuable to have do.  But this concept only works if the freed up time and resources are reapplied to higher value activities which they are not.

Where apps and even social selling cannot help you with is that last inch, that moment where buyer and seller engage, that human to human connection.  In case of commodity sales, be that consumables, toner, nails, IT components, and more, where developments in IoT and other areas, make it easy, in fact more efficient for buyers to leverage tech and apps to keep things humming.  The Amazon Dash Button, will quickly eliminate “sales people” (Well, order takers, social, but no longer required).   This is why it is not surprising that Forrester forecasts 1 million US B2B salespeople will lose their jobs to self-service eCommerce by 2020, accounting for 20% of the B2B sales force.  Fear not, because someone still has to sell that first button, and for that they’ll need a sales person.

Don’t get me wrong, automation is key, but in most instances, it just levels the playing field, any advantage you are going to have will still come down to how you sell, not how you automate.  For example, I have a client who was able to triple the number of outbound dials by introducing a power dialer, and as a result doubled the number of conversations, and number of conversions to opportunities.  Impressive, but nothing their competitors couldn’t replicate with a similar number of dollars.  The real pay-off was in the investment in the last inch, how his reps handled the call to actually increase the percentage of conversions.  This led to a 30% increase in conversions, leading to a combined impact of 200% increase in engaged opportunities.

Ah, the human factor, there is no app for that.

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Are You Too Busy to Succeed?8

By Tibor Shanto – tibor.shanto@sellbetter.ca 

While it may not always seem that way, sales is not that complicated, notwithstanding what pundits and also rans will tell you. That’s not to say it is easy to execute, and we all know that success in sales is all about execution, everything else is just talk, but in terms of complexity, not that much. The size of the deal, or the number of people or moving parts involved, do not make it complex, people who claim to be doing “complex sales”, make complex. Especially when you consider all the tools we have at their disposal than ever not only to reduce complexity, but to get ahead of it, simplifying things even more. What makes it complex is when you leave out things that have to be done for success, and then have to do a whole bunch of things to make up for what you didn’t (want to) do. Like prospecting.

It’s hard to keep a straight face when a rep tells me that they were “too busy to prospect.” Excuse me, too busy to do a core part of your job?

Let’s simplify it here a bit, let me quote an old timer who taught me a bit about sales: “sales come from prospect, and prospects come from appointments” (Or any engagement, live, phone or web). Sure we can dress it up, complicated with a bunch of words borrowed from IT, but I challenge you to show me the flaw in that? The complexity happens when you try to succeed in sales by leaving out one of the above, yup, prospecting. Proactive hands on prospecting, not waiting for “lead?” from someone who like your latest infographic.

Yet regularly sales people tell me they were too busy to prospect. Often these sales people were also too busy to make quota. While many will hide behind customer service, or some other thing that someone else could do much better than them, but if they did, they would have no excuse to not prospect. Like the rep who rather than prospect, drove a $12 part across town to a client, “I am very customer focused”, he told me. I told him so is UBER, and they could have gotten it there for $20, and you could have prospected for new clients needing more $12 parts.

It starts with understanding ALL the things that have to be done during the course of a sale cycle, not just the stuff we like, and then doing them, including prospecting. Say based on you experience, you need to dedicate 10% of your time to prospecting. Given a fifty-hour work week (I know you work so much more), that’s five hours, and hour a day. The best sellers I have met look after the building blocks first. They go into their calendar and block out the time for the winning activities. While actual specific client meetings will be hard to pinpoint in advance, you do know how may meetings a week you will need to succeed based on your conversion rates across the stages of the cycle. Say your number was
eight a week, and your clients are usually a drive away, it is not hard to carve out 16 hours in a week to ensure that when the meeting is secured, you have the “inventory” to fulfill.

Using the example above, if you need an hour of prospecting a day, and your best time to hit your targets is 10:00 am to noon, then go into your calendar today and block an hour a day, you have choice, you can vary it up, but go in there today, and block that time off through to the end of your fiscal year. This will ensure that you have the time needed to get your next opportunity. No matter how good your pipeline looks today, even if you close every opportunity, you will need new opportunities after you celebrate. By blocking off that hour in advance, you will always be prospecting. What I find telling, is that I have never had a rep blow off a client meeting because their pipeline was anemic, and they wanted to make sure that it was healthy again.

Stop making excuses for why you are too busy to succeed, and start making an appointment with success.

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great than

Buy My Crap – Please!0

By Tibor Shanto – tibor.shanto@sellbetter.ca 

Many sellers forget just how many sales situations buyers are involved with, most sellers have tunnel vision in the way they view the world, a very narrow tunnel, just big enough for their product to go through. They figure the only other people calling on and selling to the buyer are them and their direct competitors, but it is important to remember that buyers get calls from a range of product peddlers. How any single buyer reacts to you is shaped more by those experiences than a direct response to your approach, if you forget to take that into account, you will fail to make progress.

One of my favourite examples revolves around the most common objection one faces in telephone prospecting, the proverbial rallying cry of the Status Quo: “We’re all set, we’re good thank you!” Those words are just the tip of the iceberg. Just under the surface they are bracing themselves for the assault.

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Sellers forget two things, first is that the purpose of that first call is to get engagement, either in the form of a face to face appointment, or agreement to participate via web tools or phone for non-direct sales. Second, is the likelihood of a prospect making wholesales changes based on an unsolicited call, are slim, and anything that makes the call fall into that category will work against you. If sellers embraced this they would find life much easier and profitable. You first need to “get in”, so you can start selling, no need to worry about the end so early in the game. Yet that is the very trap many sales people fall into, adopting an “all or none” posture that just pisses even the most will participant off.

When most sales people hear that “All set” objection, respond by saying “Well, get rid of that crap, and buy my crap!” Click To Tweet Sure they may not use those words, but that is what the prospect is hearing, as they have heard thousands of times before, from thousands of other also-rans.

You are not going to win if you focus on their current vendor, there is only one path to Nirvana, co-existence. By understanding their objectives, and having a good understanding of how you have helped your current clients achieve similar objectives, you can take the focus off the deliverable or product, and place it on their objectives.

When companies tell me they have a trainer, I don’t knock up against that, instead I focus on adoption. No matter the training the real challenge is having people adopt and change as a result of the training, a frustration for many. Rather than taking the discussion to my offering vs. the incumbent, a losing proposition, I focus on how my methodology (not framework) actually increases adoption of all training introduced by the company. I can co-exist with other providers, even direct competitors, because the issue in not the program, but how much of any training delivered will be evident in six months. Sure I want to replace, but that comes after I get in. To borrow from Lyndon B. Johnson, my variation would be “I’d rather be inside the tent pissing out than outside the tent pissing in.” Once you have a seat at the table, even at the end of the table, you will be part of the next discussion, and have a chance to take things further.

The reality is that it is often not so much your crap vs. their crap, but how can you make their crap better for the prospect.

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Solstice

Is Sales A Winter Sport?0

By Tibor Shanto – tibor.shanto@sellbetter.ca 

This post makes most sense read on Labour Day, on a deck with a cold one in hand, which is where you should be today!

Being that it is Labour Day, and the de facto end of summer, I thought we can take a look at a lighter side of sales while still giving us something to think about without having to think too hard, something many of us in sales are already good at most days.

I’m not a big Shakespeare fan, but one of the things I did like was his use of the environment (skies, landscape, etc.) as tool to accentuate or contrast elements of the plot, or the inner conflicts of characters. Next time between calls, check Macbeth or The Tempest. You can see similar things unfold in sales, or at least those of us observing the drama, often the characters, you the sellers, are too close to see what the audience sees.

More often though, it is more the case that sales people tend to reflect their environment, which is good in the context of a sales meeting, but not when the environment influences their view and execution.

The Tuesday after Labour Day signals the unofficial start of the home stretch for most sellers. This conveniently comes only a few weeks from the Autumn Equinox, (well only here in North America, for our Aussie and southern hemisphere followers it would be the Spring Equinox).

I have always found that the time between the two Equinoxes to be the most productive for sales people. Not just because of the “Year End” or “Start of year” dynamic, but other factors and trends. (Speaking of drama, and Shakespearean predictability, are you braced to see an avalanche of “How to end the year right” posts, quickly followed by “How to start the year right”). An obvious one being the productivity cycle of their market and buyers. There is a natural cycle where businesses are more focused on doing business, less distracted by things like opening the cottage, getting the kids ready for collage, and more.

The Autumn Equinox brings with it shorter and shorter days, less light more darkness; it is dark when you start your day, and dark before it ends, making it easier to focus on the task at hand during day light house. An almost Shakespearean effect of the days narrowing with your opportunity to retire quota. Everything coming to a crescendo with the arrival of the Winter Solstice. While many will run the race right December 31, most will build their efforts to peak days before Christmas. And just as we return to work January 2, new beginnings, fresh opportunities, and longer days, more light, more energy.

Just a crock of sh#t you say, you’re probably right, but how deep do you want to be on the “last” day of summer, with a frosty on a deck?

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Priorities vs. Objectives3

By Tibor Shanto – tibor.shanto@sellbetter.ca 

If you read this blog regularly (and why wouldn’t you), you know that I put a lot of emphasis on understanding and selling to a prospect’s Objectives, a much better area of focus than pains or needs.  One of the positive elements of Objectives is that they are generally long term, and they continuously evolve.  This provides with a number of opportunities to succeed, but it needs to executed right and in the right sequence.

Many sales people I speak to are always in a hurry, looking to short cut things.  You can’t blame them, every time they go “Home”, they are asked, what did you close?  As old as time, the tribe sends out their hunters, and they expect that hunter to come home with a kill, not “progress”, a “next step”, or any intangible gains.  This drives a certain behavior that limits focus on the buyers’ long term, in favour of the seller’s immediate focus of quota.

I recently had a rep tell me that they would rather focus on the prospect’s priorities than their objectives, his reason being that priorities “paid off quicker than anything long term like objectives.”  Well maybe.

Sure you are more likely to have short term gains with helping people with priorities, what they see as their immediate burning issue.  But what I have seen is that priorities, or series of priorities are part of an overall plan, an overarching Objective, eventually success will be measured in not how well you accomplished any given priority on route to the Objective, but how well the Objective was achieved, and did that in turn drive the impacts and results the business was looking for.

Many sales people will opt to service the priorities because working on the whole Objective may take work and time.  After all, the company may not realize their Objectives for some time, but may buy the first piece now.  The challenge with that is that servicing their immediate purchases without aligning it with Objectives will often leave vendors exposed to the next flash or discounter who comes along.  But if you can focus and sell to Objectives, it does not preclude you from servicing some of the steps along the way.

In addition, there is the question of influencing and shaping their Objectives and means of achieving.  It is the familiar posture in sales, one where you would prefer to be a “trusted advisor” rather than a “supplier” or “vendor”.  Keep your focus on what they are trying to achieve and why, not what they need to buy.  There may well be alternative means of achieving their Objectives, ones you can introduce by virtue of being a Subject Matter Expert, picking off smaller projects along the way will not give you that.  As well, if you are not aligned to their Objectives, any vendor who delivers a priority can come along and displace you.  It is also OK to not win every small project along the way, as long as you are the one they look to for validation of the work, and further direction.  The best sales people will win both priorities and Objectives by focusing more on the latter than the former.

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Rehearse 2

What Is Your Customer Buying?0

By Tibor Shanto – tibor.shanto@sellbetter.ca 

Most sales people are good at telling you what they sell, not necessarily communicating how the customer will be ahead as a result, but they are good at telling. Regularly scheduled role play in team meeting will usually help you get ahead of that. While this will help with the delivery and to ensure that they are delivering the message, it does not ensure the message is right.

This is not always the fault of the front line rep; they will usually run with some version of what they are given. The version they run with will be determined by which camp of the ever popular ‘80/20’ they are in. The 20% is not the worry, they will take what they are given, understand how it will help drive objectives, and then enhance it based on their experience and past successes. The challenge is the 80%, whose version will be altered and diluted, delivering less results, leading the 80 Percenters to say “This doesn’t work, I just gonna do what got me so far.” This is where having role play as part of your routine once a month at the minimum, will allow the sharing of best practices, and practice. This coupled with the observations made while you are riding along to real prospect calls, should allow you to lead things in the right direction.

Once you have a couple rounds of role play and practice, spice things up a bit, and have your sales people articulate what their prospect is buying and why – rather than what they are selling and why.

Don’t be surprised if what you hear is the mirror opposite of what they said “they were selling”. In fact, many managers may themselves miss that, because they grew up the same system, and have become tone deaf to the message and have fallen victim to same message related brain washing as their reps. If you have the type customer base that will indulge, I would ask one to sit in and provide feedback, and I would also have you marketing participate so they can be hands on.

Going further, I suggest coupling the role play of why someone did not buy, with an actual opportunity review of the opportunity lost. In most instances sales people will point to price or product fit as reasons for loosing. At the same time, third party companies who are paid to carry out post mortems on lost opportunities consistently find that the real reason had more to do with reps’ inability to understand what the prospect was trying to do.

The best way to help reps change is to have them articulate what their prospect is buying, if they cannot do that, you can bet they will not be able to sell them. Once you can get them to do that, you can introduce a line of discovery that encourages prospects. A continuous rotation of role play: “What we sell/What they buy” will ensure you are offering real value to buyers, and success for your reps.

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3 Things To Not Say In Prospecting Calls0

By Tibor Shanto – tibor.shanto@sellbetter.ca 

Many sellers ask me what they should add to or say in an initial telephone prospecting call.  Having listened to and analyzed thousands of calls, I have come to the conclusion that most sales would make great strides if they first focused on what to leave out of their calls.  There are things that people say in the call that make sense based in “normal” situations, but prospecting, cold calling people who you have never spoken to, who are not expecting your call, not looking for your product, and were busy doing something they thought was important at the time you called.

As discussed in the past, your prospect has heard it all before, if they get five calls a day, that’s 25 a week, 1,200 a year, some 6,000 calls over the last five years, so you have to break through the apathy and “deafness” if you are to have any chance at all.  This means not just being different from the others, but sounding different than all the other callers they’ll encounter this week.

To help you avoid sounding like the also rans who did not get the deal, here are three things to leave out of your initial prospecting call; BTW, I have heard all of these in the last week, by people who most would consider to be “good” sales people.  Here we go:

  1. How are you? – I know it sounds simple, polite, and innocent, but it adds little if anything to the call, and opens some risk. I have a very binary view of initial calls, if something does not add measurable upside to the call does not belong in the call, “how are you?” is definitely one.  It is one the things that we hate about the calls we get in the middle of dinner, where a strange voice asks how you are as though they were your best friends concerned about your day.  Skip it, respect their time and intelligence, instead of asking how they are, get to why you are calling.
  1. Is this a good time? – No! As I have spoken about on this blog in the past, our job is that of “professional disruptors”, professional interrupters.  By definition, a cold call is when we call someone who does not know us, is not expecting our call, but fits the profile of someone who would benefit from out offering.  With all that, no it is not a good time, but I really don’t care, because I have something important for the prospect, something that will help them achieve their objectives and improve their business.
  1. Who is in Charge Of? – I know, but this still goes on. Wanna tell a prospect you don’t care, you can’t be bothered, or that you really don’t enjoy your job, just start the call like that.  I swear if I had a dollar for every time I hear that each week, I could subsidize my coffee habit.  It is no longer impossible to find anyone, and if all else fails, ask for a specific title, “May I speak to the VP of Operations”.  Or pick an afternoon and call in advance to collect names to be ready when you make the money call.

Now I know some will sit there and say “I know this, this is too basic”, and you would be right, which is what makes these kind of calls so wrong.

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Leveraging The “Nice To Haves”1

By Tibor Shanto – tibor.shanto@sellbetter.ca 

Sales people are good at looking for prospects or buyers with “pain” or “needs”, those ready for the seller’s “solution”.  I get it, these are more immediate sales, more cooperative buyers even when the motivation is rooted in “pain”, but is that enough.  Most groups I work with, when asked, will tell me that to make quota they will have to close business with more than just the “lower hanging fruit” of self-declared buyers with “pains” or “needs”, they will need to reach beyond this group, and bring other players “into the market”.

A few days ago I was in the back of a room when a pundit was telling a sales audience that they should notional segment their prospects’/buyers’ statements into three types of statements:

  • Needs
  • Wants
  • Nice to haves

They went on to say that successful sales people focus most of their effort on the prospect’s “needs”, a lesser amount of time and effort on the “wants”, and by addressing these two you will win the business.  Don’t waste time on the “Nice to haves”, “because they are likely not funded and usually reflect the individual, not the group, and therefore will not achieve consensus”.  That may be logical on the surface, but I have always found that exploring the “Nice to haves”, usually helps me get the sale, or at times allow me to walk away, without adding much if any time to the sales cycle.

“Nice to haves”, are usually more personal or individual and certainly more subjective that other aspects of the decision around the purchase.  As a result, we know that it is not likely to be the things everyone coalesces around, but it is often a key stop or the critical element in getting to that consensus.  According to the CEB in the Challenger Customer, a buying group is more likely to have discord and failure in deciding the “type” of solution to deploy than in selecting a specific vendor once they have agreed on “solution”.

Against this back drop, it is clear that the clutch that brings people together, is the degree to which their “nice to haves” are part of the consideration and the path forward.  It is the sales person’s ability to help each stakeholder see how the core decision and ultimate deliverable, actually moves them closer to their “nice to haves”.

Don’t look at exploring their “nice to haves” as a waste of time, they are personal and telling.  On the hand you may find that individuals who may not see eye to eye on elements of the decision, may have similarities in their nice to haves.  Creating connections and allegiances on that level could make the difference between one path and another, or one supplier vs. another.  Having two allies you brought together on a personal level can’t hurt.

Knowing their “nice to haves”, will also put you in a good position for future upsells and renewals with the company, based on the rapport you established when you took their individual “nice to haves” into account.  Remember, often the difference between a “want” and a “nice to have”, is the sales person’s ability to make the “nice to have” possible.

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Young beautiful business woman with heartache.

The Rejection Reflex0

Tibor Shanto – tibor.shanto@sellbetter.ca

We are all familiar with a gag reflex, a hypersensitive response to a stimulus, if you ever want a live demo, just offer me some fish.  The hypersensitivity is generally a conditioned response, usually a result of previous experiences. The experience element is key for both prospects and sellers when it comes to Direct prospecting vs. Passive prospecting.

Pundits will tell you the number one reason salespeople don’t like prospecting, especially telephone prospecting is rejection, wrong!  In actuality, it is the fear of rejection, a fear that looms so large that it often prevents salespeople from picking up the phone and actually experiencing the possibilities that exist beyond the initial rejection, the bounties of Direct prospecting.  This why they would rather spend time and energy looking for the “safer” harbour of Passive Indirect prospecting. There is no less rejection, they just don’t have to deal with it directly, and can pretend that it didn’t happen.

Learn how to handle the 5 most common prospecting objections

Rejection is not fatal, witness all the sales professionals who survive rejection daily, yet live healthy, happy and more prosperous lives than the average and passive sales person.  It first needs to be put in context, and dealt with.  The good news is that how you deal with rejection can be altered with training.  Most people look at sword swallowers with freakish fascination.  Most people gag when a sharp foreign object hits the back of their throat.  Sword swallowers train to manage and control the very muscles that causes the majority to gag.   They are not freaks, but committed to understanding and practicing what it takes to get things done.   The average person will use the gag reflex to rationalize their lack of willingness to try something new or different.  For the sword swallower it’s just another day in the office.

But that gag or Rejection reflex is not limited to just the sellers in the equation.  Based on the call, the prospects often experience a gag reflex of their own.  Remember that the reflex is an involuntary reaction to previous experiences, in my case fish, in the case of the prospects, it is all the crappy prospecting calls they have received prior to the current one.

One way to avoid the “Reflex” on both side is for sellers to take a different approach to how they prospect.  Most sellers and passive prospecting approaches, say social selling, use a tired and worn out approach, one based on “pain points”, “Solutions” or “needs”, leading to very similar talk tracks.  After a few hundred(s) of these calls, it only takes a few choice words from the seller to trigger the gagging and hacking that leads to rejection, and usually in very predictable ways.   80% of the time 80% of prospects will have one of five most common reflexes, the five most common objections.  This means that a pro who not only takes the time to craft a better talk track based on future looking objectives, and then also spends time preparing to Take Away the most common objections, will engage with more prospects, more often, leading to greater success, and way fewer “Reflex” incidents.

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