The Power of Five

I was asked to give a talk on sales not long ago. There are so many topics relative to sales that it is difficult to choose one that will appeal to everyone. Out of nowhere came The Power of Five. The five topics I covered were:

  1. Define Markets
  2. Create Personal Financial Goals
  3. Build a Prospecting Plan
  4. Own a Sales Process
  5. Get a Coach

I maintain that these 5 are the foundation of sales success. Are there others? I’m sure they are out there but for October 21st these will do.

Market definition, who buys from you, who you should prospect for, what does a perfect client look like are all pretty much the same thing at least in a general way. I started with this one because it helps to know who you need to sell to before you put together a prospecting plan. When I work with clients whether they are individuals or companies I ask that they profile existing accounts to determine if there are common characteristics among them. Again, not rocket science.

Here are a few characteristics:

  1. Industry
  2. Products they buy from you
  3. Company size
  4. Why the customer buys from you
  5. How did you get them as customers
  6. How often so they buy
  7. Do they buy an assortment of products or services

The other important question to ask is: What are You Good at? This has tremendous implications on market definition. What you are good at doing and who you sell to are flip sides of the same coin. Through trial and error (probably more errors than are necessary) I discovered that I am at my best when I work in a small company environment. That has played out over the last 10 years as I morphed from pure sales training to helping smaller companies grow their business. What I am good at also relates to what I like to do. Very large on my list of ‘likes’ is seeing people grow their talents. Nothing makes me happier than to see a salesperson or a company moves past obstacles that previously held them in check. And frankly, it is not about me! Providing the knowledge and experience and showing someone why that knowledge can propel them past their current level of mediocrity is more than enough for me.

Also, be wary of trying to be all things to all people! It is tempting to say “I can do that” when a prospect asks if you can provide specific expertise in an area you are not particularly familiar with. Dollar signs trump experience! My advice is don’t do it. Broadening your markets may mean that you are diluting your efforts and losing opportunities in your main market. And if you don’t succeed in a new market what does that do for your reputation and confidence?

Here’s the last question worth asking yourself: What are the Characteristics of What You do That Appeal to Potential Clients? It really comes down to the more you know about yourself, what you do and who your best clients/customers are.

When Are We Going To Grow!!!!!

I don’t know about you but I believe that the title of this post will be repeated thousands of times this week! I also believe that the size of the company will not make a difference as to whether that line is used. It might sound different, like maybe “our sales are flat” or “we are not consistent, one month we’re up the next month flat…”. Per usual this has a lot to do with sales or the lack thereof.

Sales is kind of funny. You own a company or are the CEO of the company and you make the assumption that the sales organization is in decent shape. The VP of sales or sales manager seems to know what they’re doing. He or she has been in the industry and/or with the company for a number of years and growth has been OK. If the company is smaller then the owner manages the salespeople he or she inherited. Maybe the owner has even hired several sales reps and things have moved along decently. Regardless of the situation the sales are flat lining.

So, what do you do? For sure one thing not to do is panic and jump into drastic changes. Oh brother, that happens a lot. Why? Because whomever has the power needs to look like they are doing something about the problem. Like my battalion commander once said to me after I had royally screwed up during a people problem I witnessed. He delivered his advice loudly enough so brigade headquarters heard it “take action even if it’s not the right action”. Good advice but will the advice work for the leader? Not necessarily if the actions are drastic. The theory that “for every action there is a reaction” applies. The more drastic the action the more emotional and haphazard the reaction.

K.I.S.S. Do you have the right salesperson or salespeople? Do they really know how to sell? Are they seeing the right people? Do they have a territory plan? Are they doing the right sales behaviors? Do they have a sales process? How are they being managed? Are they mentally and emotionally tough?

There are many questions within those questions that need answers but the answers are available if the owner/CEO/leader pursues the answers in a constructive and  organized manner. And each of those questions can be fixed if they are broken.