Posts Tagged ‘sales management’

Why do businesses fail?

Posted: November 3, 2011 in Uncategorized
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Great question, isn’t it? Pundits, consultants and conjurers of silver-bullet-hacks have attempted to engineer an answer to this question. The heart of this recession lies in a short question with only four words. So – why do businesses fail?

Excuse #1: Today’s needs are different than they were and we’re still trying to figure out what the buyer wants

Have needs changed all that much? Abraham Maslow, a renounced psychologist, postulated a theory in his 1943 paper called “A Theory of Human Motivation”. In this theory Maslow proposed a five tier hierarchy of a human’s individual needs. These needs ranged from the most basic needs of food and shelter to complex needs of respect, morality and worship. If Maslow was right, these needs have not changed. IF these basic human needs have not changed, then I must repeat my original question, why do organizations fail?

Answer: Demand

Simple, isn’t it? Every business has a life cycle of introduction, growth, maturity and decline. Understanding when business has reached maturity and is on the way to the decline phase can help an intuitive business professional repurpose their drive, reengineer product, develop new packaging and stimulate additional demand. Change is good. Understanding how demand influences the life cycle of a business is better than good, it is exceptional. Marketing expert Kolter and Keller in their book Marketing Management share 8 facets to demand. These facets are negative, nonexistent, latent and declining on the negative demand side of the equation and irregular, full, overfull and unwholesome demand on the other side. So what does all of this mean? Though many of us would settle for irregular demand right now, an organization needs to increase demand to a healthy ratio. Easy to say, but what does that mean? Business needs to understand how to stimulate demand. Even in a declining market someone is still filling demand. That someone is exceptional at what they do.

We could certainly parse words, discuss product mix, marketing mix, market profile, earn degrees in selling concepts and still miss the main point of this short encouragement. The main point is that average and below is not in demand. If anyone of us in business is to compete in a market with irregular demand we need to perform above average. Above average in the entire mix of the good or service we are providing. I’ve met many master craftsmen who could wield the power of a tool and still went bankrupt. With the Richmond metro area creeping toward our door step, we must be ready to be exceptional, because exceptional is in demand.

Sales and Front Line Image Training

Posted: May 6, 2011 in Uncategorized
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The front line image of every company is your sales person. How they present themselves will determine a lot about the company they serve. Here are a few ways perception is cast:

  • Facebook: Warm and fuzzy feel of your company. Humor, interaction and engaging conversation will open doors never before found. Good for leads and engaging the customer
  • Linkedin: Professional and business look to reinforce the principles and value of company.
  • Twitter: Micro blogging with important industry tidbits mixed with personal thoughts extend the reach.
  • In person: Most important presentation of all. “In person” is where action meets speech and impacts the bottom line.

How many business have been sunk because their “in person” did not match the rest of the package? Think back to that waitress and why your lunch choices never seem to include frequenting X. Communicating in person is the most important communication of all. Training sales people on sales technique is crucial, but training a sales person to be sensitive to underlying image presentation, non-verbal communication and still close sales is just as essential. Training your front line to carry the image you wish to convey will unify the message and extend your sales reach.

[categories sales, sales management]

Sales Management and Dogs

Posted: April 12, 2011 in sales
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Sales Management is not for the weak. The definition for sales management is:

Definition of sales management: a high stakes octagon cage fight for the title and the belt.

Sales managers biggest challenge: which fight is the most important one to fight at the time? and which is the fight that needs ice?

Few are successful.  So…why the pup?   To illustrate.  Too many times Sales Managers fail because their lack of discernment and focus.   If the overall goal of the sales manager is to make sales, don’t let anything derail sales capacity.  Any distraction will destroy.  Areas a distraction will affect:

  • Moral
  • Focus
  • Perseverance
  • Determination
  • Team
  • Attitude
  • Support
  • Production
  • Numbers
  • Time
  • SALES

This, my fellow sales manager is, the tail wagging the dog (hence, cute picture above).

Definition of Tail wagging the dog:  An item of minor importance dominating the situation.

IF sales management is already a cage fight…a little discernment will tell you that an immature sales veteran should not control the destiny of the entire company because his/her undies are in a wad.   During the good ‘ole days, it was easy to feel good and build sales ego.  During hard times it is easy for the ego driven veterans to need diva reduction assistance, maybe a little ego ice to reduce the swelling of the head.

Remember, in this cage fight, there is more on the line than pride.  Nothing gets done until it is sold.  Nothing.  Your discernment will be clearer the more steadfast the focus on a distinct goal.  Clear unobstructed focus will help you determine which battle to fight and which battle needs ice.

Don’t let the tail wag the dog.

sales anger

Posted: March 24, 2011 in sales
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Anger can be a good thing. How?

Anger has the potential to:

§ drive the will

§ motivate the mind

§ toughen the heart

§ stretch skill

§ promote flexibility

§ enable creativity

§ resolve to win

§ focus

But anger can also be a terrible elixir when:

§ loses control

§ badgers others

§ chains the mind

§ consumes the soul

§ twists boundaries

§ enables destruction

§ cracks the will of the team

§ de-motivates the motivated

§ destroys the bank

§ maliciously grinds

For those of us who control the fortune and direction of business there is an urgent call to check the blind spots. Many decided to enter business because virtuous anger drove us there. Challenges face us all. Consumed with the challenges leaves us a little room with walls consistently closing in…tightening. Responding to the challenges depends on the elixir. What will it be?

A unified team resolved to conquer?

Or

An apathetic team who will not make a decision?

What is reality?

If number one, you have a healthy team that is ready to conquer the business world.

If number two, You have a blind spot, you’re toxic.

Flattery is Not a Good Sales Tactic

Posted: January 27, 2011 in sales
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“Butter ‘em up, lay it on thick and close the deal.  Glowing white bleached smiles run from ear to ear, smirking enough to hide the fangs.  The Charm-o-meter is oozing a bubbly green substance overloading the senses, hypnotically distorting the mind with flattery.

Flattery is not a tactic employed by a friend, but an enemy seeking to manipulate.   Flattery is like a verbal flatulent.   When you hear it coming, something will stink really badly and a whole lot of people will smell it coming.  The only one being fooled when flattery hits the fan is…..well, the flatterer.  

Avoid using flattery and pay attention when being flattered.   Ulterior motives are exposed in flattery.

sales accountability

Posted: January 3, 2011 in sales
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A r is generally a good thing. An electric fence like the one pictured is a great example.   Signage clearly describes the consequences of ignorance and willful bliss.   A jolt of consequences can be severe..though not lost. 

In consequences:

  •  Reckless & hasty are made an example
  • Wise learn from the example of the reckless & hasty
  • Simple are warned by the example of the reckless and hasty

Sales is to be practiced with excellence.  There is no room for the reckless & hasty.  So how do you reach excellence? 

Slow down:   There are no real emergencies in real estate.  Hasty actions are the spawned in the cesspools of inactivity and procrastination.  Like mosquito larvae wiggling in the mud, they all hatch at the same time and motivate ravenous activity, not production.

Think:  No bell can be un-rung.   What are my actions going to impact in this transaction and in the next.  Thinking about long-term impact on multiple transactions will temper the immediate reaction to act. 

If sales is your career, boundries are good.  Boundries will keep you safe, productive and profitable in 2011. 

The best sales incentive

Posted: December 29, 2010 in sales
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What drives you?   What give you the incentive to sell?   For most in real estate the incentive is a commission structure that has no ceiling.  No doubt, the opportunity at a high rewards is motivation…that comes with high risk.   Problem: so many in real estate lose their way with the individual freedom and cannot produce consistently.  Busy does not equal productivity.   So how does one develop consistent productivity when it feels like we are bound in a co-dependent relationship with busy-ness?  Accountability. 

Accountability drives results.   Accountability requires someone to be accountable to.  Most of us left our day job so we could call all our own shots.  Being accountable is the tough part. ”People will deliver what you expect when you inspect.”  The quote is not original with me and since I don’t know the origination of the quote I will arbitrairly choose a figure from histroy like Master Yoda.

Expect:

  • your expectations are to earn a living
  • your clients expectations are to sell the home
  • your power company expects you to pay the bill
  • your mortgage comapny expects….

You get the idea.  There are a lot of expectations, but who does the inspection?   If you are solo and self employed that would be you.   The problem with me doing my own inspection is I lie to myself, expand the reasons for failure and take extra days off. So how do you maintain productivity?  While it is certainly more difficult to be productive in a self employment scenario, accountability does make it posible.  How?

Choose an accountability partner.  Just like recovering addicts need accountability to pull them out of the depth of despair, you need accountability to keep you on track.  Choose another self employed person of like mind who will willingly and ruthlessly keep you accountable.  Remember you are not looking for another relationship, you are looking for accountability. 

Accountability will increase your productivity.  Productivity is a great incentive.

  What is your sales incentive?

Sales Trough

Posted: November 30, 2010 in sales
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You know you’ve reached bottom when you are competing for scraps in the same sales trough.  How do you know you’ve reached bottom?  Do you know how to get out?

  • You’re scared to leave even though all you hear is a bunch of bull
  • The trough seems empty, but the bull keeps coming
  • Banter, pushing, shoving with the same people all lead to poor results

At some point you either try something new or starve.    I urge you to give up hope on the fairy godmother of sales and rely on action.  Since people buy from people they like, change the routine and find a place to build some healthy relationships with healthy businesses and people.  Here are a few suggestions for greener pastures.

  • Join a Toastmasters Club and learn to speak confidently and clearly in groups
  • Offer to teach a class at the Adult Education for the county, you never know who you will run into, plus it builds confidence
  • Sponsor small team luncheons with qualified repeat business
  • Ask for referrals from past clients
  • Throw a Christmas Party for new people in the neighborhood
  • Pass out muffins and ask for business at the neighborhood garage sale
  • Go to school functions and introduce yourself to 5 new face (without the shameless plug, that will come once you have a relationship and they like you).

Desperate days require desperate measures.   Be different and separate yourself from all the bull.   I finish with sales management words from Jedi Master Yoda: “Do or do not…there is no try.”

Tips on Client Management

Posted: November 30, 2010 in sales
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Client management can be just like treating the fire in this video.  Here are a couple of tips garnished from the video:

If a client’s pot gets stirred and starts on fire,

  • Don’t Panic
  • Don’t Run Away
  • Training and instructions are there for a reason, don’t be distracted, pay attention.
  • Training is not intended to bore you, but to prepare you
  • Address the source of the problem and turn down the heat
  • A cup of cold water with good intentions doesn’t always make the situation better
  • Being a wet blanket can have its moment in the spotlight
  • Learn from those who have gone before, seek wise counsel, they know what they are doing because they’ve been burned before
  • Ignorance doesn’t mean your fairy godmother will appear waving a wand to prevent the consequences

Any I missed?   I would love to hear form you.