Sunday, February 19, 2012
Visiting India
We just returned from a month in India. We visited a number of cities and towns including Jodhpur, Jaiselmer, Jaipur, Udaipur, Agra, Goa, Rathanborgh, Delhi and Mumbai. It was an amazing “bucket list” trip. I was told India stands for “I’ll Never Do It Again.” I’m not sure I totally agree although it was among the most “exotic” places we’ve ever been. There are fascinating issues to explore and stories to tell, which I intend to do, but I thought I’d comment on a few of the lighter surprises today. There are really no street signs in India; they navigate by monuments and landmarks and by asking nearly anyone and everyone for directions. “Go to the clock tower and take the second turn after that” kind of thing! Interestingly enough, everyone was willing to stop what they were doing to give directions, every time we asked. We had a driver for the four of us, but few people venture far enough away to be comfortable and familiar with each of the locations so they just stop and ask, and invariably get accurate directions willingly given. On one stretch of road, from Jodhpur to Jaiselmer, which is on the historically significant “silk road” and close the Pakistani border (close meaning about 15 miles) we drove on the typically slightly expanded one lane road, which is predominant in the country with only a few exceptions. On the several hour drive we shared the road with: goats, sheep, dogs, donkey’s, monkey’s, cows, water buffaloes, camels, elephants, camels pulling carts, people walking , tuk-tuk’s, other cars, buses and trucks. Wow! There was no discernable speed limit although we rarely went very fast because we’d honk at a cow who was largely disinterested in moving at all, so we’d steer around him and continue on--
Wednesday, January 4, 2012
Open Water Cruising and Sales
Open Water Cruising and Sales
Do They Share Attributes
I had the privilege of piloting my friends 60' Ocean Alexander again recently, and it reminded me of many of the fundamental tenants of successful selling!
1. We discussed our trip and knew where we hoped and wanted to go, what we wanted to see, how long we expected it would take, and then planned the details necessary to support those “trip” goals.
a. We all need an “account plan” which reminds us of our goal, timeframe, expected mileposts in the process and the like so our “call” plans reflect the strategy documented in the account plan which, of course, can be changed as it needs to be, just as we’d change the cruise plan for adverse weather.
2. Before leaving the dock we checked each system, made sure the boat was ready for the large body of water we were about to undertake
a. Exactly as all truly great salespeople do—review everything they’ll need on a sales call before the sales call to be sure they are prepared and ready
3. Then we checked our planned routing and developed an alternative
a. precisely as we should all know where we expect/want the call to go, and be ready for the deviations that might get thrown at us
4. As we navigated the waters, one was the pilot and one stayed steadfastly on lookout for deadheads and other “flotsam and jetsam” that can cause havoc with a boat/rudder/propeller, ruining what could be a great day or worse.
a. It takes a team to effectively sell. All too often we either expect sales people to be entirely independent and /or they choose to be “lone rangers.” Neither works. Smart successful salespeople know when and how to engage others with skills and experience that can help avoid those “deadheads” that can derail the sale. Just as important, while the sale is progressing nicely, it’s wise to stay ever vigilant; is competition just around the corner; will they surprise us when they show up; are we ready for them; have we anticipated they might present themselves and have we planned for that occasion?
5. When we arrived we carefully and thoroughly documented the trip in the log book including comments on interesting things we saw, how the boat preformed, things we wanted to remember about that days cruise, maintenance issues, etc
a. The great salespeople know to immediately log the call in their CRM for ready reference and for using to help plan the next call. They include the results of the call versus their plan for the call, issues they want to recall, subtleties that occurred they want to remember and account for, like a new person of influence they hadn't met before, or how involved/distracted the prospect was and how to manage/account for unique behaviors in the next call. They don’t rely on their memory!
6. And the next day we started over again, invoking the same disciplines and to the same level of detail
a. Too often we all fall victim to believing we know the customer/prospect well and don’t really need the same attention to detail we might use with another, but when we do, we put the sale at risk!
I wondered how we can successfully transfer the need for a disciplined approach when we’re cruising the open water, to the sales process, and why it seems so hard for so many. Those that get it, are wildly successful and we refer to them as “natural” salespeople—not the case at all—we can all be “naturally” great if we adopt and stick to the same disciplines necessary to have a safe and enjoyable cruise!
Do They Share Attributes
I had the privilege of piloting my friends 60' Ocean Alexander again recently, and it reminded me of many of the fundamental tenants of successful selling!
1. We discussed our trip and knew where we hoped and wanted to go, what we wanted to see, how long we expected it would take, and then planned the details necessary to support those “trip” goals.
a. We all need an “account plan” which reminds us of our goal, timeframe, expected mileposts in the process and the like so our “call” plans reflect the strategy documented in the account plan which, of course, can be changed as it needs to be, just as we’d change the cruise plan for adverse weather.
2. Before leaving the dock we checked each system, made sure the boat was ready for the large body of water we were about to undertake
a. Exactly as all truly great salespeople do—review everything they’ll need on a sales call before the sales call to be sure they are prepared and ready
3. Then we checked our planned routing and developed an alternative
a. precisely as we should all know where we expect/want the call to go, and be ready for the deviations that might get thrown at us
4. As we navigated the waters, one was the pilot and one stayed steadfastly on lookout for deadheads and other “flotsam and jetsam” that can cause havoc with a boat/rudder/propeller, ruining what could be a great day or worse.
a. It takes a team to effectively sell. All too often we either expect sales people to be entirely independent and /or they choose to be “lone rangers.” Neither works. Smart successful salespeople know when and how to engage others with skills and experience that can help avoid those “deadheads” that can derail the sale. Just as important, while the sale is progressing nicely, it’s wise to stay ever vigilant; is competition just around the corner; will they surprise us when they show up; are we ready for them; have we anticipated they might present themselves and have we planned for that occasion?
5. When we arrived we carefully and thoroughly documented the trip in the log book including comments on interesting things we saw, how the boat preformed, things we wanted to remember about that days cruise, maintenance issues, etc
a. The great salespeople know to immediately log the call in their CRM for ready reference and for using to help plan the next call. They include the results of the call versus their plan for the call, issues they want to recall, subtleties that occurred they want to remember and account for, like a new person of influence they hadn't met before, or how involved/distracted the prospect was and how to manage/account for unique behaviors in the next call. They don’t rely on their memory!
6. And the next day we started over again, invoking the same disciplines and to the same level of detail
a. Too often we all fall victim to believing we know the customer/prospect well and don’t really need the same attention to detail we might use with another, but when we do, we put the sale at risk!
I wondered how we can successfully transfer the need for a disciplined approach when we’re cruising the open water, to the sales process, and why it seems so hard for so many. Those that get it, are wildly successful and we refer to them as “natural” salespeople—not the case at all—we can all be “naturally” great if we adopt and stick to the same disciplines necessary to have a safe and enjoyable cruise!
Wednesday, September 28, 2011
Creating Jobs and Fixing Social Security
We are in the midst of great debates and profound changes to the very fabric of our nation. While I rarely write regarding political issues, this one seems to strike at the very heart of who we are as a nation so I thought I’d share my suggestion for stabilizing the Social Security system, stimulating the economy, and reducing the general angst that exits.
It’s a four-part program with the following attributes:
• Immediately enroll all workers in the system that means everybody including Congress and anybody else who is exempted today!
• Immediately raise the age needed to begin benefits to 67 for everyone under the age of 50. Then begin to add one month every three months until we reach 70.
• Change the system of payroll deductions immediately. Rather then contributing until one reaches a predetermined level, today I believe around $106,000 in wages, take the contribution level today and consider it the base line. Then everyone earning less than $25,000 is exempted, they are fully part of the system, but not required to contribute. They need every dime just to live and every dime goes immediately back into the economy! From $25,000 to $75,000 they pay ½ of today’s base line; from $75,000 to $200,000 they pay today’s base line, and from $200,000 and over they pay 2X today’s base rate, and there is no upper limit any more. This is a “fair share” approach and it’ll work!
• Finally, immediately begin means testing. It is ridiculous to pay someone with millions of retirement $2000 a month in Social Security —they don’t even know what to do with the money. Believe me, I know some of them! And they won’t revolt if they lose their $2000 a month, they’ll applaud our rational thinking!
It’s a four-part program with the following attributes:
• Immediately enroll all workers in the system that means everybody including Congress and anybody else who is exempted today!
• Immediately raise the age needed to begin benefits to 67 for everyone under the age of 50. Then begin to add one month every three months until we reach 70.
• Change the system of payroll deductions immediately. Rather then contributing until one reaches a predetermined level, today I believe around $106,000 in wages, take the contribution level today and consider it the base line. Then everyone earning less than $25,000 is exempted, they are fully part of the system, but not required to contribute. They need every dime just to live and every dime goes immediately back into the economy! From $25,000 to $75,000 they pay ½ of today’s base line; from $75,000 to $200,000 they pay today’s base line, and from $200,000 and over they pay 2X today’s base rate, and there is no upper limit any more. This is a “fair share” approach and it’ll work!
• Finally, immediately begin means testing. It is ridiculous to pay someone with millions of retirement $2000 a month in Social Security —they don’t even know what to do with the money. Believe me, I know some of them! And they won’t revolt if they lose their $2000 a month, they’ll applaud our rational thinking!
Monday, August 22, 2011
5 Common Barriers Inhibiting Revenue Performance
I was playing golf recently at Bandon Dunes with the CEO of a major Chicago based firm. During our match, he asked me if I could name a few of the common issues I see in my engagements. Maybe he was just trying to distract me, it was match play after all, but I thought he was truly interested, so I told him I had seen barriers that seemed to be present frequently, usually fixable but all causing many issues for many firms, Among them were:
1. The Alignment Problem:
The alignment between the goals/expectations and compensation plans. Often CEO’s tell me their sales force just isn’t firing on all eight cylinders, and could I help them by replacing them with better, more capable people, or maybe get them on track with more focused training or perhaps more discipline. When I get engaged I see a significant misalignment between what the sales force is being asked to do and how they are being paid. Compensation plan design is not often a core competency for senior management for a number of reasons, but infrequently do those without the experience and ability to design a good plan call on those who have the skill for guidance. It’s not an especially difficult issue to solve, but far more often than not it needs solving!
2. The Collaborative Model:
The failure of management to lead, thinking they need to manage and often confusing the two. Far too many salespeople feel like they’re in the vast blue ocean of competition all by themselves and have nobody to turn to for collaboration. Sales meetings are “account reviews” with a senior manager whose perceived goal is to ask all the tough questions and uncover their failures and shortcomings. It’s rarely a pretty sight nor is it an especially productive session. Management needs to contribute their skills, experience and position, forming a team with the sales staff, who have an obligation to keep the rest of the organization informed and involved. This collaborative model has a much better chance of success then the hierarchical model so many of us grew up under. Management needs to accept the responsibility of helping move the account forward to a close, rather than just passing judgment on performance.
3. The “Like” Factor:
People have for too long espoused the theory that people buy from those they “like” -- little could be further from the truth. People buy from people they have confidence in and in whose judgment they trust and in whom
they believe can add value to their requirements, offering them a solution that is better than they originally expected. It’s the real role of an expert salesperson -- to deliver a solution that exceeds the customers’ expectations and provides them with a solution better then they knew existed. It really doesn’t matter if it’s a retail environment or a sophisticated commercial transaction, the goal of sales should be the same, to provide a solution that exceeds the customers’ expectations/requirements .The “like” thing may very well happen, but a professional is what the customer wants, not a friend! Salespeople get the “like” message that their organization is delivering and begins focusing on getting the customer to like them, and then the lunches and golfing and all those activities that have little to do with closing the deal start.
The corollary is true as well, the customer finally comes to believe he has a special “friendship” with the salesperson, and when the rules change for whatever reason, he feels he’s been abandoned or worse, and that creates even more issues. I see this frequently in the banking world, as an example, and when the terms of the loan are changed, or new covenants are imposed, the customer can’t figure out why his “good friends” bank did that to him.
4. Much Too Focused On Features & Benefits:
Another common problem is organizations that focus nearly entirely on training on the features and benefits of their products, with a smattering of competitive reviews. The result is salespeople who are automatons when it comes to reciting the attributes of their products, what they haven’t done is learn how to listen, develop and solution that surpasses the customers’ expectations, build a plan that serves the customer and wins the deal. It’s really rarely about features, they are important, to be sure, but important only as one component in meeting the customers’ needs.
5. The Failure of Technology:
And finally, I mention the failure of technology. People who have experience, and with it a bit of age, seem to rely on their “tried and true” methods, not realizing the world has largely passed them by and they can no longer win business on the sheer force of their personality. They seem to take a perverse pleasure in rejecting the advantage technology brings them. They are staring at their own obsolesce and don’t even know it. Just is bad is the younger salespeople who rely too heavily on technology, thinking an email is all that is necessary. Largely, it seems, using available technology to “put the ball in somebody else’s court” as they say. Apparently thinking that once they’ve launched an email, their task is essentially done. Both are failing because of their perception of the value of technology. One undervalues it; one places too much value on it.
So, there you have it, the five most common hurdles I see that act as barriers to achieving great performance. All can be fixed, but they must first be recognized, and then dealt with.
I was playing golf recently at Bandon Dunes with the CEO of a major Chicago based firm. During our match, he asked me if I could name a few of the common issues I see in my engagements. Maybe he was just trying to distract me, it was match play after all, but I thought he was truly interested, so I told him I had seen barriers that seemed to be present frequently, usually fixable but all causing many issues for many firms, Among them were:
1. The Alignment Problem:
The alignment between the goals/expectations and compensation plans. Often CEO’s tell me their sales force just isn’t firing on all eight cylinders, and could I help them by replacing them with better, more capable people, or maybe get them on track with more focused training or perhaps more discipline. When I get engaged I see a significant misalignment between what the sales force is being asked to do and how they are being paid. Compensation plan design is not often a core competency for senior management for a number of reasons, but infrequently do those without the experience and ability to design a good plan call on those who have the skill for guidance. It’s not an especially difficult issue to solve, but far more often than not it needs solving!
2. The Collaborative Model:
The failure of management to lead, thinking they need to manage and often confusing the two. Far too many salespeople feel like they’re in the vast blue ocean of competition all by themselves and have nobody to turn to for collaboration. Sales meetings are “account reviews” with a senior manager whose perceived goal is to ask all the tough questions and uncover their failures and shortcomings. It’s rarely a pretty sight nor is it an especially productive session. Management needs to contribute their skills, experience and position, forming a team with the sales staff, who have an obligation to keep the rest of the organization informed and involved. This collaborative model has a much better chance of success then the hierarchical model so many of us grew up under. Management needs to accept the responsibility of helping move the account forward to a close, rather than just passing judgment on performance.
3. The “Like” Factor:
People have for too long espoused the theory that people buy from those they “like” -- little could be further from the truth. People buy from people they have confidence in and in whose judgment they trust and in whom
they believe can add value to their requirements, offering them a solution that is better than they originally expected. It’s the real role of an expert salesperson -- to deliver a solution that exceeds the customers’ expectations and provides them with a solution better then they knew existed. It really doesn’t matter if it’s a retail environment or a sophisticated commercial transaction, the goal of sales should be the same, to provide a solution that exceeds the customers’ expectations/requirements .The “like” thing may very well happen, but a professional is what the customer wants, not a friend! Salespeople get the “like” message that their organization is delivering and begins focusing on getting the customer to like them, and then the lunches and golfing and all those activities that have little to do with closing the deal start.
The corollary is true as well, the customer finally comes to believe he has a special “friendship” with the salesperson, and when the rules change for whatever reason, he feels he’s been abandoned or worse, and that creates even more issues. I see this frequently in the banking world, as an example, and when the terms of the loan are changed, or new covenants are imposed, the customer can’t figure out why his “good friends” bank did that to him.
4. Much Too Focused On Features & Benefits:
Another common problem is organizations that focus nearly entirely on training on the features and benefits of their products, with a smattering of competitive reviews. The result is salespeople who are automatons when it comes to reciting the attributes of their products, what they haven’t done is learn how to listen, develop and solution that surpasses the customers’ expectations, build a plan that serves the customer and wins the deal. It’s really rarely about features, they are important, to be sure, but important only as one component in meeting the customers’ needs.
5. The Failure of Technology:
And finally, I mention the failure of technology. People who have experience, and with it a bit of age, seem to rely on their “tried and true” methods, not realizing the world has largely passed them by and they can no longer win business on the sheer force of their personality. They seem to take a perverse pleasure in rejecting the advantage technology brings them. They are staring at their own obsolesce and don’t even know it. Just is bad is the younger salespeople who rely too heavily on technology, thinking an email is all that is necessary. Largely, it seems, using available technology to “put the ball in somebody else’s court” as they say. Apparently thinking that once they’ve launched an email, their task is essentially done. Both are failing because of their perception of the value of technology. One undervalues it; one places too much value on it.
So, there you have it, the five most common hurdles I see that act as barriers to achieving great performance. All can be fixed, but they must first be recognized, and then dealt with.
Wednesday, July 20, 2011
Approaching SELLING like we do a VACATION!
We recently took our grown children and their families on a vacation to the Turks & Caicos Islands. It occurred to me as we had the time of our lives with them, that a vacation is a great model for effective selling!!
Here’s the 12-step analogy I realized:
1. Vacation: Our first step was to determine a place all three generations would enjoy
Selling:Much like thinking thru the profile of a good prospect
2. Vacation: Then we asked everybody what they’d most like to do
Selling: Along the lines of determining the customer’s needs
3. Vacation: We used the internet to research all the places that seemed to fit
Selling: Matching the prospects requirements/needs with our ability to deliver
4. Vacation: We determined our budget
Selling: Deciding how much were willing to invest in the deal
5. Vacation: As we approached the departure day we carefully planned what to pack
Selling: Reminding me of the importance of being sure the presentation was ready and customized for the prospect
6. Vacation: We arrived at the airport in plenty of time to make our flights
Selling: Just as we should arrive a few minutes early on any sales call
7. Vacation: We took small “emergency” bags on board in case our luggage didn’t arrive with us
Selling: As we should be sure the technology, handouts etc. are ready with backups available
8. Vacation: When we arrived we immediately walked around the lovely resort to get a sense of how it all worked
Selling: Reminding me of the importance visiting with the reception people and any others to get a sense of the culture and how we might modify our presentation style to fit with their business culture
9. Vacation: While we were there we immersed ourselves in all there was to do; diving often, swimming, hiking, learning about a new and different culture
Selling: Just like we need to show a real and sincere interest in learning all we can about our prospect and how they operate, make decisions
and buy
10. Vacation: We took photos and kept diaries of our events so we wouldn’t forget them
Selling: Just as we should all take careful notes to remind us of the details and nuances of the potential sale
11. Vacation: When we got home we made photo albums for each to have as a memory of the trip
Selling: As we should commemorate and share with our team the results of significant meetings and communications
12. Vacation: We took a family poll to see what we liked best and what we’ll do differently on our next one
Selling: Just as we should seek feedback and adjust accordingly
“If we could just inspire our salespeople to plan their day like they plan their vacation— performance would increase dramatically!”
Tuesday, April 19, 2011
Herding Sheep
I often hear clients refer to “herding cats” meaning it’s nearly impossible to get everyone on the same page, which for anyone having a cat, is just too obvious. Or “herding sheep” as a reflection of how hard it is to get everyone moving at roughly the same pace. It occurs to me that many may not really understand the comment at the level needed to successfully address the issue.
I was raised on a ranch in Wyoming (I still own our brand, the /\7, the “open a seven”) and we had both sheep and cattle. Cattle were very independent and tended to roam at will, knowing where the food and the shelter was to be found, a t least right up to winter when we needed to bring them in to a central headquarters location where we could care for them during the worst weather when little or no food and surely no salt was available on the range.
Sheep were another issue. First there were three levels of “leadership” needed. The sheep dogs, indispensible, served to nip at their heels to get their attention and keep them moving together as a group, rather like many sales managers; then we has a lead goat, its job was to lead the flock to the next green pasture where feeding was plentiful; rather like the marketing manager who needs to discover and present new and innovative ways to help the salespeople thrive; and finally we had a sheepherder, who’s primary, really only job, was to protect the herd from predators. I’ve seen sheepherders walking for miles over difficult terrain carrying a new lamb on their shoulders, bringing it back to a willing nursing mother. I see this role rather like senior management, who can protect the sales people from those that would detract from their focus, causing them to become wayward and lost, well, less productive then they could and should be for sure.
It’s interesting to me how often life is imitated in different ways and different places. Perhaps we should re-think our sales management roles using the “herding sheep” example.
Hope you enjoyed another of my analogies!
I was raised on a ranch in Wyoming (I still own our brand, the /\7, the “open a seven”) and we had both sheep and cattle. Cattle were very independent and tended to roam at will, knowing where the food and the shelter was to be found, a t least right up to winter when we needed to bring them in to a central headquarters location where we could care for them during the worst weather when little or no food and surely no salt was available on the range.
Sheep were another issue. First there were three levels of “leadership” needed. The sheep dogs, indispensible, served to nip at their heels to get their attention and keep them moving together as a group, rather like many sales managers; then we has a lead goat, its job was to lead the flock to the next green pasture where feeding was plentiful; rather like the marketing manager who needs to discover and present new and innovative ways to help the salespeople thrive; and finally we had a sheepherder, who’s primary, really only job, was to protect the herd from predators. I’ve seen sheepherders walking for miles over difficult terrain carrying a new lamb on their shoulders, bringing it back to a willing nursing mother. I see this role rather like senior management, who can protect the sales people from those that would detract from their focus, causing them to become wayward and lost, well, less productive then they could and should be for sure.
It’s interesting to me how often life is imitated in different ways and different places. Perhaps we should re-think our sales management roles using the “herding sheep” example.
Hope you enjoyed another of my analogies!
Sunday, April 10, 2011
the 6th Law of Sales
• Don’t misinterpret “the customer is always right.” The customer is right about his desires, perhaps even his requirements. But all too often they really don’t know what they don’t know. They have come to you to add value to their purchase decision. An example is a woman at a cosmetics counter - they’ve been applying their cosmetics for years, they know exactly how they want to look, yet they ask question after question at the counter. Why? Because they know the person they are talking to is experienced and trained with all products including the latest and may have ideas and knowledge they don‘t. Customers want to be educated, to be shown a better way, to have their needs/requirements refined to take advantage of current products/services and methodologies. They don’t want to make a mistake and be “sold” what they asked for, when they could’ve done better with some expert input and guidance. Listen, interpret their comments, and then offer a solution that adds value to the transaction.
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