Sales Conversations

Matrix Key:  Financial Viability - Marketing and Sales - Sales Conversations

"To succeed in sales, simply talk to lots of people every day.  And here's what's exciting - there are lots of people!" Jim Rohn

The topic of sales shows up again and again throughout the WholeLife Matrix.  If you want to sell something, you've got to have sales conversations.  Some people need a lot of persuading; others just need a quick explanation for how your product fits their needs.  Some form of interaction must take place to transact business and that is usually a conversation.  The more conversations you have, the more sales you will close.

A successful sales conversation has four distinct parts:

1. Identifying the Opportunity
2. Presenting the Proposal
3. Follow Up
4. Closing - Asking for the Sale

When you start to think of your sales conversations in this way, you become more efficient and effective.  You present how your product meets the client's needs and you close more sales.  You also gain the confidence necessary to keep on talking and winning deals.

Are you ready to win?

Measuring The Projections

Matrix Key:  Financial Viability - Profitability - Measuring the Projections

"It is often said that there are two types of forecasts, lucky or wrong." - Unknown

Even the best business projections and forecasts are meaningless unless you compare them to your actual performance.  One of the most important facets of Financial Viability is to measure your projections, that is, to measure your company's performance against those projections.  If your results vary widely from your projections, you should take action immediately to either stop the bleeding or make necessary adjustments.  So what's the best plan for measuring against projections?

Here are four weekly actions to take to stay on top of your projections:

1. Accounting department meeting
2. Production department meeting
3. Sales department meeting
4. Estimate department meeting   

Each of these parts of your business need to constantly review their costs, labor, and time, as well as report on any unusual circumstances that will skew the results higher or lower.  A forecast is a critical tool for success, but it is just that, a prediction that will be lucky or wrong.  The proof is in the pudding, and measuring your results is a key ingredient your recipe for profit.

Are You Ready to Win?

The Sales Pipeline

Matrix Key:  Financial Viability - Marketing and Sales - Sales Pipeline

"It's not your customer's job to remember you.  It's your job to make sure the customer doesn't forget you." - Patricia Fripp

It's rare that anyone sells something at the very first client meeting.  Sales is a process, and your sales pipeline consists of customers at different stages of the sales cycle. The WholeLife Matrix gives you the tools to develop a discipline for your sales pipeline activities. A good sales person can effectively manage customers at all points of the sales process, and manage a constantly flowing pipeline without dropping anything out.

Here are four necessary actions for building and managing your sales pipeline:

1. Qualifying Potential Clients
2. Consistently Adding Names to the Client Database
3. Keeping the Client Database Current
4. Staying in Touch with Clients

We will address specific sales actions in other blogs, but it's crucial to first create a structure for tracking clients, prospects, and deals as they make their way through the sales cycle.  Your client database is the foundation of your sales pipeline, and the framework for a winning sales plan.

Are you ready to win?

Financial Viability

Matrix Key:  WholeLife Matrix - Financial Viability

"Things work out best for those who make the best of how things work out." - John Wooden

The first quadrant of the WholeLife Matrix is Financial Viability.  For most business owners and entrepreneurs, Financial Viability is top of mind and sometimes all consuming.  Without a financially successful business, it is hard to achieve balance in all the other areas of your life.  

The Financial Viability quadrant identifies the four key essentials to a healthy, thriving business:

1. Profitability and Finances
2. Resource Management
3. Marketing and Sales
4. Production and Delivery

 These are the four legs of your financial viability table.  You have to make sure you are putting equal effort into each of these four aspects of your business.  Future blogs will detail some of the actions to take in each of these areas.  For now it is important to note that each of these components affects the others, and all four must be operating in tandem and very efficiently.

Business owners and managers have a lot to do and handle every day in order to be financially viable.  By breaking down the business into segments, it will be easier to identify strengths and weaknesses as well as delegate actions to the appropriate teams.  When you have your Financial Viability game plan in place, it will be much easier to win the game of business.

Are you ready to win?

The Science of Luck

“I’m a great believer in luck, and I find the harder I work, the more I have of it.” – Thomas Jefferson

Nothing is more depressing that putting a lot of effort into something that does not yield results. Quite often, the sales game seems like a futile practice – people don’t answer your calls, don’t show up for appointments, and don’t buy. When we’ve done our homework, our groundwork and scheduled the time to consistently make sales – when we’ve done everything right and we’re still not selling, that’s a lonely place to be.

It’s easy to say “It’s not working, so why bother?”, or “It’s the economy.” We’re tempted to give up, or tempted to blame our lack of success on circumstances beyond our control. We’re especially prone to looking at people who are selling and saying, “They have all the luck.”

Some people may be inherently lucky, but chances are they ascribe to the ancient proverb that “Luck is where opportunity meets preparation.” My boss reminded me of this recently when I made a sale based on a good referral from a colleague. I felt like I didn’t deserve the credit; she had pre-qualified the prospect and told them I would be a good fit as their coach. All I had to do was put the bow on the package – she had already wrapped it for me.

While I’m always happy to make a sale, I felt a twinge of guilt at having this one come so easily. I felt I hadn’t earned it. My boss reminded me that I had indeed been hard at work on all the sale and marketing activities that go into being ready to capitalize on opportunities. I made the sale due to my preparation and being ready when the deal came along.

The key is constant, diligent preparation. Keep scheduling sales into your calendar. Stay on top of your marketing and stay in the game. Maintain an optimistic attitude and always be on the lookout for a good opportunity. Sales may come from places you don’t expect, but constant practice and an open mind will definitely yield results. Winners practice their skills every day. Come game time they can make the clutch plays that edge the competition. It may look like luck, but it’s a direct result of the unseen hours of preparation that will seal the deal every time.

Are you ready to win?

Qualifying Prospects & Opportunities

“In business you get what you want by giving other people what they want.” 
by Alice MacDougall

The early prospectors were looking for gold. The current prospectors are looking for golden opportunities to win relationships and make sales. The important thing is to make sure you are looking in the right place.

Two important distinctions to make in qualifying.

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  The first distinction is that you need to qualify the prospect by answering the following questions: Are they the right buyer for your product or service? Do they have the ability to make a buying decision? Can they influence a buying decision? Do they have the ability to get you information on how buying decisions are made?

• 
  
  The second distinction is that you need to qualify the opportunity. So now that you have found a prospect who is the "ideal buyer" of your product or services, you need to make sure that the opportunity is the right one. What is the prospect's expectations on the outcome? Is the project just right for your company to handle? Is it too large or too small; can the prospect afford your pricing? Is their timing for your type of service a 3-month or a 12-month decision making process?

Once you have answered these questions, you are ready to begin the selling process. It's crucial to make sure you "hear and listen" to all their needs. Spend time learning how they want the relationship to proceed once they have engaged your company, how they want issues to be resolved, and how often they want to communicate on the progress of the project. get a clear understanding of these relationship issues during the qualifying process. Even if your price is higher than the competition, if you structure the delivery of the service as they envisioned it, you will win the sale.

Are you ready to win? If so, register for Sales2Win, an eight-session sales and marketing training course designed to increase your sales by 20% to 30%! Each one-hour telephone session will unlock the mysteries of successful selling and teach you how to differentiate yourself in the marketplace.

Stamp Out Cold Calling & Make Sales Fun

“Six degrees of separation is the theory that anyone on the planet can be connected to any other person on the planet through a chain of acquaintances that has no more than five intermediaries.” The theory was first proposed in 1929 by the Hungarian writer Frigyes Karinthy in a short story called "Chains."

Use this theory to turn any cold call into a hot one. Create a relationship map and odds are that you know someone who knows someone who works at the company you are targeting. Look at your contact list of co-workers, friends, neighbors, your kids friends parents, it’s amazing how once you start a conversation with someone, there always seems to be a connection to another person you both know.

When we eliminate cold calling from the selling process, the process becomes very enjoyable. The difference between a “cold” call and a “hot” call, is that with a “hot” call, you’ve done your homework, you are well prepared, you have a connection and a great attitude about having a conversation that will thrill the person you are calling. They are thrilled because you are offering them a product, service or solution that provides a tremendous amount of help and value. They feel you see the world through their eyes and that you really understand them. Once you make that connection, selling is fun.

Successful selling is a series of conversations you initiate in which you help shape how a situation occurs to the buyer. You carefully select the language that will help steer the conversation in a way that keeps the focus on the other persons needs, desires and intentions. The more you can relate to the person through your research and getting a good referral, the better you can help build a solution that improves their lives.

Once you follow up and follow through on your promises, create a healthy urgency for your product offering and provide a solution that thrills them, they will buy from you. Once they’ve received the solutions you’ve co-developed, they will continue to buy from you and refer their friends as well. The connection, and the ongoing referrals will keep you from ever having to cold call again and make the selling process fun!

Are you ready to win?

Cold Calling 2 Win

“My motto was always to keep swinging. Whether I was in a slump or feeling badly or having trouble off the field, the only thing to do was keep swinging." - Hank Aaron - American Baseball Player

Successful cold calling is dependent on your getting-started attitude. The law of large numbers says, the more "no's" you get out of the way, the closer you are to getting to "yes!" The best way to succeed is to be prepared and to keep swinging.

There are four basic elements to an effective cold calling campaign:

1. Qualify your prospects: Begin with a list and qualify your prospects; make sure this list includes businesses that need your products or services and can afford to buy them. Attain key contacts who can make buying decisions.


2. Be prepared: Do your homework on the company and the industry. Know their key competitors and research some best practices that can add value to their business. Then create a script with which you feel comfortable and include a brief introduction and an interesting third party story about a company similar to theirs who is already using your products or services.


3. Turn cold calls into warm calls: Do a relationship map and find someone in your company or at another client’s organization who may know the prospect. Get a referral and find commonality. When you have common ground, you know the same people, or you can talk about something you know interests them, people are more warmed up to the call. Approach them on neutral turf by attending networking events or trade shows where they may be present. Find out if your prospect plans to attend and make it a point to run into them. Provide some value: give them a free assessment or a promotional item that would be of great interest to the buyer, something that will catch their attention.


4. Follow up: Timing is very important, don’t let too much time pass between that first meeting and your next phone call. Follow up when you said you would, but don't flood their machine with messages. Keep calling until they answer the phone. When you want to schedule an appointment, offer a specific time; don’t leave it open-ended. Ask for only 10 minutes of time to make your pitch. People are very busy, and your call was likely an unplanned interruption. Make it short and sweet and show them you respect their time. During the conversation, find their “hot buttons.” Continue to schedule future brief conversations so they feel they know you, find value in your product and are ready to buy.

Once you’ve got them on the phone and they are intrigued, remember the 80/20 rule. Listen 80% of the time and speak only 20% of the time. People want to buy from people who they feel understand them, their issues and can provide value. They love to speak about themselves, so give them plenty of opportunity. Ask key questions that will reveal how they like to buy and show them how your product fits those specific needs. Keep swinging, and before you know it, you'll have a growing list of paying customers, and that is a recipe for winning.

Are you ready to win?

Sales & Marketing, The Heartbeat of Business

“You have to perform at a consistently higher level than others. That’s the mark of a true professional.” Joe Paterno, Head Football Coach, Penn State University.

Never stop selling. Selling is the heartbeat of your business. If you stop selling your company will flat line.

There are four basic elements, or consistent action steps, of marketing and sales:

1. Create A Marketing Network: Create opportunities to meet new people. You have to have a system in place to create enough opportunities for making sales. Anyone can make lots of sales if they have lots of opportunities for sales. Your system might include monthly chamber of commerce meetings or leads clubs. You should also be asking for referrals all the time.

2. Create A Sales Plan: The sales plan is really a schedule for sales activities. Schedule time for phone calling each week. Schedule time for networking groups, for getting referrals. Put these activities in your calendar and stick to it! Create measurements of performance for your sales efforts - how many calls, how many new leads, how many new clients, and how many actual sales you need on a weekly basis. Have a system for reporting these results to a sales manager or business coach.

3. Selling: You must spend time engaged in the act of selling. You have scheduled the time to sell and you must follow through. You have to be having conversations with current and potential clients every week if you want to sell anything. Most importantly, you want to be having conversations with people who have the potential of buying your product.

4. Your Unique Sales Approach : What is your commitment to your customer? What makes you different from your competition? How are you going to deliver your service? All these things need to be part of your marketing and sales plan. You must distinguish yourself to the customer in order to develop a relationship that will lead to sales.

If you want to learn more about how to craft a sales and marketing plan, listen to Consulting2Win Radio where we discuss this and other important business techniques every Wednesday from 11:00 am to 12:00 noon PST.

Are you ready to win?

The Marketing Plan

"The will to win is important, but the will to prepare is vital."

Joe Paterno, Head Football Coach, Penn State University

1. A Marketing Plan is a Map

Having a plan is the first step to getting someplace. If you were lost in a new city the first thing you would do is ask for directions and get a map. You must have a written sales plan that you use every day if you really want to have sales occur in your business.

Without opportunities for sales you will not have sales. It’s that simple. In today’s current market conditions, our strategy is to market ten times more than you ever have before. You must create a plan that includes sales activities that haven’t been happening. (We know it can be intimidating, but when you have a written plan, you can do it!) Networking, calling former clients, building your client database, putting out a newsletter, reworking your web site – all these actions will create opportunities for sales.

The plan must be on paper and it must be shared with everyone in the sales department

2. Action makes something happen

Actions are what make things happen. When we convert an idea into action we move the project forward. Thinking about it, feeling about it and creating a plan without action does not produce results. You need to create accountabilities and ways to keep the projects in existence. Coming up with a good idea and having everybody agree to it is nice, but unless you meet weekly, measure the results and agree on what is going to happen next, the plan will drop out of existence. And that means less sales.

3. Time is required when anything is accomplished

The one thing that is always present when anything happens is a period of time. If you do not block out a period of time to make something happen it will not get done. This is a key ingredient to the success of any plan. Carving out the time in your calendar to make something happen is the only way to insure that it will, in fact, occur.

4. Planning +Action+Time= Results

Planning +Action+Time= Results is the secret formula for making something happen. Implement this strategy, and you will always have success. You are on the right path to winning when all of these ingredients are included in your project. Make sure you play to win by using this strategy now in your marketing plan. Let us know how it works for you.

Are You Ready to Play the Game?

Key Business Success Strategies

“Even if you’re on the right track, you’ll get run over if you just sit there.”
Will Rogers, Actor/Lecturer/Humorist

Every winning team has key success strategies that are the basis for their decisions on the playing field. These are the strategies that remain constant despite change - different players, different opponents, and different circumstances.

In business you need strategies that hold true no matter the market conditions. These are the basic fallback positions that keep your business on track in a challenging economy. At Possibilities Unlimited, we believe that the three key success strategies are:

1. Structure your business to make a profit under current market conditions
2. Do not allow for anything in your business that is not working
3. Market ten times more than you have ever done before

Structure your business to make a profit under current market conditions
The basic law of business is “Thou Shalt Make a Profit!” If you violate that law, you will lose the right to do business. Your business will be permanently in the penalty box. You must at all times structure your business or your department to make a profit. You must bring in more money than you spend.

Your business coach is there to help you make the hard decisions that will keep your business lean and profitable. Getting help from someone who does not have an agenda or something to gain from your business situation makes it easier to get the job done faster with better results.

Do not allow for anything in your business that is not working
Now is the time to throw overboard anything on the boat that is not needed. Any person, system or product that is not contributing to profitability, to moving toward the goal line, needs to be eliminated. Stop allowing for anything that does not work in your business or your department. You need to be running 20% more efficiently that you ever dreamed possible.

Now is the time to get the right people into your starting lineup.You want to move the ball down the court, and that will only happen when the right people are working together and they are all working from the same playbook. The more cohesive the team, the more efficient the business and the lower the operating costs. All these things combine to make you more competitive and boost your results in the game of business/life.

Market ten times more than you ever have before
Market, Market, Market! Now is the time to get into the marketplace. This is no time for order-takers. The people sitting back waiting for the phone to ring are the ones having problems in today’s economy. If you have been marketing then increase it by ten times. (If you devote one hour a week to making sales calls, bump it up to ten hours a week.) Create more opportunities for sales. Build a pipeline of opportunities for sales. Sales are the foundation of your business, the touchdowns, the three-pointers from center court. If you want to win the game, you have to have points on the board. You have to have sales happening all the time.

Are you ready to win?