Four Keys to Understanding Sales

Over the years I’ve read a hundred sales books with all kinds of different approaches and ideas. Some were very good and others left questions about their authors understanding of selling.

When ever I found myself in a slump or things just didn’t seem to work the answer always seem to be in the basics. A great chef, master carpenter or champion athlete always seems to have a mastery of the basics. So let’s take a look at what this idea of selling really amounts to.

First: Sales is two people, a customer and salesperson, communicating with each other. The customer is communicating their needs, wants and results required. The sales person is trying to understand these so the issue can be solved by their product or service. Just think of this as two people getting together to help each other improve their situations.

Second: Customers purchase products and services for the results they provide. This can be a real challenge for sales people that have been indoctrinated that sales are all about their product. This means saving time and money, preventing problems, solving problems or creating opportunities; that’s what the customer is looking for. Your product or service is simply a way or method to get the results, so salespeople need to communicate these results to customers instead of the product.

Third: Getting into new accounts, selling new and existing accounts and servicing accounts is all about two people communicating. Getting into a new account is about communicating results that the customer could achieve and communicating it in their language. The selling part is listening, questioning for clarity and communicating the results. Servicing the account is continued communications about the results to date and additional results needed.

Fourth: If we take the selling process, the objection response process or presentation part of selling and take the words “selling”, “objections” and “presentation” away, guess what we end up with. The “Selling” process becomes a communication process that is used every day. The “objection” response becomes a conflict resolution process and “presentation” becomes story telling.

Take this idea of communications instead of selling and see what happens to your productivity. Ask yourself what the potential results of your product could be from your customer’s perspective. Now think about how that could best be communicated to your customers.

We’ll explore each step of the sales process and how communications fits into it in future segments. For now, just think communications.

Fishy Salespeople? How to Finally Stop Handing Out FREE Fish to Your Sales People

Do you remember the good ole days when sales managers used to just sit back and wait for their salespeople to come into their offices and ask for help?

Maybe they needed the old veteran to come in and nail down the close. Well, we all know you just can't do that any more. Sure, that would put a few more sales in the win column (in the short term). But in the long term what are you creating? Nothing but needy, dependent salespeople without an ounce of personal selling confidence.

Showing your people HOW to prospect, HOW to set appointments and HOW to close sales makes your job easier and everybody's paycheck fatter.

If that's the kind of vision you have for your sales team, then it's time to close down the all-you-can-eat fish-fry and open up the all-you-can-catch fishing school.

Wouldn't that be nice? You bet it would. AND profitable, too.

And so we've come to the reason for this article. You see, Self-Sustaining Salespeople are not found; they are developed. Sure, it still takes a certain style of person to succeed in this business, but once you find them, everything else can (and should) be taught. And it's all been broken down into an easy to follow step-by-step system.

But before we teach our future sales stars the secrets to prospecting and closing, we have to help them. HOW? We show them how to make the shift from just hitting their revenue goals to (with our inspiration) becoming Self-Sustained Business Professionals.

Did you notice I used the phrase "business" professional, not just "sales" professional?

That's because to be a superstar in sales, you have possess the proper insight and mindset about business.

That means having a keen insight into the details of your own business cycle, from pre-contact to revenue receipt, as well as an understanding of your prospect's world, and how it relates to their business objectives and what is important to them. Not you, but to them. You must understand how your prospects measure success.

Let me put that another way:

Sales Superstars must understand the business they are in. They must respect the business the prospect is in and they must recognize what the prospect values in that business.

To do that, Sales Professionals MUST become Business Professionals.

I've interviewed hundreds of sales people for every type of position. I found it funny that most candidates were quick to put down a "higher" level of achievement on their resume compared to their peers and the quota objective from prior sales positions.

However, when I asked them what their system and process are to achieve such "superior" results, most (amazingly) could not explain their results from a "business" level.

So, how do you do it? Inspire self-sustain business professionals?

I can tell you that just affirming the objective of executing to revenue is not enough to make it happen. Eavesdrop on any Monday morning sales meeting, and you will see that just about every Sales Manager has the same intention. They may not be "achieving" it, but is always their marching orders.

What those of us in Sales management really need to do is develop a customized Masters level curriculum in "Executing to Revenue" and "Becoming a Self-Sustained Business Professional."

To achieve that ideal, you need to indoctrinate every new sales employee to a system that develops a result-oriented plan, executes to proven tactics and manages the everyday conditions that tend to throw us off track.

Sound good. But can it really be done? And done quickly?

Well, the first step to becoming a self-sustained professional is running your business with critical metrics, processes and systems. Sounds a lot like the way an entrepreneurial business owner runs their enterprise, right?

In the Business of Core Competencies, I help sales individuals and management identify their essential components, and the performance metrics necessary for successful results.

We classify those metrics and discover how they are inter-related with each other and dynamic to preferred results. And by training specifically to these core competencies one at a time, we can control our destinies and routinely achieve our desired results.

You see, there are basically two kinds of people when it comes to results.

Those who point their index finger outward say it's not their fault things didn't turn out well. There were "conditional" reasons for their poor results. But, those who point their index finger inward evaluate what they could have done differently to avoid the negative outcome.

They know the difference between factors, which they can control and conditions, which are outside of their control. They seek out and modify routines and behaviors that are within their control, to improve efficiencies in gaining the required results.

So, ask yourself: Are you inspiring self-sustained professionals or management-sustained individuals?

Interesting question, isn't it?

Self sustained business professionals identify the essential elements and components that comprise your selling process. They realize how they affect your desired result dynamically, and make adjustments in routines and tactics to assure consistent results. No matter what month it is!

Now, here's a sure-fire method to identify self-sustained business professionals in your sales organization.

Evaluate the sales results for the month of December. Who was at or above quota? Realistically, December has only 13-15 selling days versus the normal 20-23 selling days in the rest of the calendar year.

December brings with it holidays, personal vacations, and general mental re-grouping for the new year. For most B-to-B selling individuals, if you don't have your number by mid-month or so, you might as well forget it.

But, if you understand your essential core competencies and performance metrics that lead you to desired results, you will customize a plan to achieve those results. You will start to execute to the plan prior to the holiday month, and your December revenue goal can be routinely met. And the same goes for a personal vacation month.

Makes sense doesn't it? Great! So, what are you waiting for? Go inspire those Self-Sustained business professionals on your team!

Finding Leads - A Sales Essential

Leads refer to people who have the potential to add to the sales or become part of the entrepreneur’s network of sales people. For many home businesses, the constant flow of leads greatly increases success, especially if the nature of marketing is multi-level. Without generating leads, the entrepreneur will not increase his commissions and sales.

Thus, it is important for a home business entrepreneur to find leads. Some of them get stumped on where to find leads. When they keep hitting a blank wall, their sales go down. And some simply give up the home business, throwing away the invested capital and time.

There is no 100% absolute positive method of getting good leads. But there are ways of generating leads that have been known to provide additional sales and recruits to the home business entrepreneur. Here are three of the most popular methods of finding leads.

·Buying leads from the industry

The chosen industry of the home business may be in the area of health and wellness, or personal care and grooming, or E-commerce. Whichever industry it will be, there are companies that have lists of leads for it. These companies specialize in procuring lists of leads which are sold to entrepreneurs involved in multi-level marketing.

The cost of one lead may range between one to five dollars. Newly acquired leads are more expensive than old leads. Leads that have more information are worth more than leads with scarce information.

The usual data that accompany a lead are the following:
-    Full name or legal name
-    Address (usually the current address)
-    Contact number (usually the conventional telephone number)
-    Email address

Some companies include their estimate on how much the client is interested in a particular industry. The entrepreneur must be certain that the leads come from a reputable company.

·Getting leads from the Internet

Leads may come from the Internet. There are ads in the Internet that offer certain free items, called freebies, if a person will just fill up a form. The information from these forms are collected and then sold to companies who wanted to find people interested in their industries.

The downside to this is that the persons filling up the form may be children using the name of their parents. Thus, the preferred industries clicked do not reflect good choices. This is why leads obtained from the Internet are less credible.

The home business entrepreneur must be certain that the leads are new and, if possible, he is the only one who has access to these leads. But most of the time, other home businesses also tap into this certain information. Thus, being prompt in contacting the leads is vital.

·Networking

Every city has its own business networking organizations. The bigger is the city, the more network groups. These groups can be contacted through the city or state economic development departments, the Chamber of Commerce, and several private economic organizations.

The entrepreneur must also look into newspapers for announcements of meetings of different organizations, clubs, and interest groups. Then, he should actively participate in network groups which interests are closely related to his home business industry.

A home business entrepreneur may use any of the above methods in finding leads.  Then he must follow-up his prospects for several times. If there are questions, clarifications, and even objections given by a prospect, the entrepreneur must be ready with answers. All these may be just what he needs to increase his sales and recruitment.

Export Financing - How to Use International Factoring to Finance your Sales

Selling your goods internationally can be extremely rewarding and challenging at the same time. When you start exporting goods, you truly open your company to a world of possibilities, including the possibility of big financial rewards. At the same time, you expose yourself to some of the challenges of international commerce.

Many international transactions are settled using bank or corporate letters of credit, which means you can rest assured that you will be paid on time. However, many of your clients will insist that you give them payment terms. This means you may need to wait 30, 60 or even 90 days before you get paid. And if your company is growing, waiting to get paid can be very tough.

Going to the bank for a business loan may or may not work. Most banks only give business loans to businesses that have a great past history. But this is of little use to businesses that have a short history but a bright future.

A better option is to consider factoring your invoices, which eliminates the 30 day wait that it takes to get paid. Export factoring (or international factoring as it is also known) can be a very useful tool for new and growing businesses.

Factoring is a form of financing, where a factoring company advances you a substantial portion on your invoices. The factoring company waits to get paid, while you get immediate use of the funds. This eliminates the cash flow issues that happen when you extend terms.

Export factoring is a factoring specialty. Actually, very few factoring companies offer international export factoring, so when talking to companies be sure to be specific and ask if they offer this type of factoring.

Many factoring companies also offer purchase order financing. This factoring product extension provides you with financing to fulfill purchase orders. Purchase order financing gives you the necessary funding to pay your suppliers, using the purchase order as collateral.

If your company is growing and selling goods offshore, be sure to look into factoring and purchase order funding as valuable financing tools to help you grow.

Explode Your Sales With Good Communication

These are simple and effective methods to increase your sales. You may think that you know what your customer wants, but do you really? Instead of assuming that you know, why not listen to the customer and ask questions to find out what it is that they REALLY want.

1. Give your customers benefits, not features. Your customers don't want to know the ins and outs immediately of your products, they want to know how it benefits them! Save the details of the product for a secondary page that's NOT on your home page. You can give some main selling points, but keep the minor details off the home page and just list benefits.

For example, let's say you've got a strategy to get your clients out of debt. Don't tell them step-by-step how it works on the front page, be vague and leave the small print for another page. Instead tell them how they can imagine a life with riches and being debt free! That's a benefit, not a feature!

2. Keep in communication with potential buyers. I read somewhere that it takes at least 7 views of your products to get interested parties to buy them. They're obviously interested if they've gotten to your site and requested information, why not keep them informed about your news and updates to the site? You just may have a future customer.

It's also a good practice to use a "bookmark this page" and "tell a friend about this page" tool so you can get potential buyers for the future. Even if they're immediately not buying it doesn't mean they won't be back!

3. Encourage your site visitors to ask questions. Some people may think they're bothering you or wasting your time to ask you a question. Extend your open arms to each and every surfer that comes into your site and encourage them to ask about your site!

However if you see the same question coming up over and over again, it will benefit you and the client both if you create a "Frequently Asked Questions" page. People usually want immediate answers to their questions and it saves you the tedious same responses over and over again.

4. Make the buying experience easier. Don't ask for information that you don't need. Instead, ask for the bare minimum information from the customer so they can "get in, and get out". And then later on, you can send them a quick thank you note and a follow up to see how they liked your website.

Don't make your customer jump through hoops to buy your products. They'll only get frustrated and put it off for later - and later may never come!

By keeping these lines of communication open with your site visitors and potential customers, you'll find you gain more trust and credibility with them and in turn, more sales!

Experts Increase Sales By 28% With Custom Vacation Certificates

Top-notch sales professionals and business owners consistently seek new and economical ways to increase sales. They might try a discount sale, or a buy one get one free sale or something else. But this can be a costly give away of valuable merchandise or time. A different and more affordable method is the vacation incentive.

Vacation incentives have matured since the day of hidden sales meetings. Your customer no longer is forced to attend timeshare meetings, ruin their vacation or pay hidden fees. They get free hotel plus $500 in savings with no gimmicks. The best part is the sales professional or business owner only pays as low as twenty cents per customized vacation certificate and offers a high value for free to get customers in the door -- or make the sale. But does this really work?

According to USA Today, 93 percent of customers surveyed preferred travel over other incentives. Plus the “Incentive Travel Fact Book” states a whopping 58 percent of those surveyed say that travel is a more effective incentive than cash or merchandise.

"In a split marketing test, we sold 23.4% more copies of Instant Mortgage Letters when offering a free Las Vegas hotel and gambling package," says J.D. Zandt, Managing Director of RDULoans.com.

Mortgage companies aren't the only industry increasing their sales with vacation certificates. Other businesses include Timeshare Resorts, Vacation Clubs, Motels & Hotels, Auto Dealers, Apartment Management, Health Clubs, Newspapers, Banks, Carpet & Tile Stores, Boat Dealers, Furniture Stores, Home Improvers, Jewelry Stores, Tire Stores and more.

Customized vacation certificates are perfect to increase sales, generate web traffic, provide lead generation, build loyalty with customers plus motivate executives and top sales performers. Plus with a 30 year travel company completing the processing, fulfillment and arranging, merchants simply promote and distribute the vacation certificates for maximum benefit.

Enjoy Visiting Garage Sales

One of my all-time favorite ways to spend a Saturday morning is to visit garage sales, probably because I have so many great memories of going to garage sales with my mother and my grandmother. I remember waking up early and eating my breakfast as quickly as I could so that we could get out and explore the many garage sales that were held around our town during the spring and summer.

Now that I have become an interior designer, I love visiting garage sales even more. I know, it might sound like a strange place to pick up items for customers, but I have found some of the best and most unique pieces for many of my homes at garage sales. The things that some people find useless are a treasure to others.

If you are about to head out to garage sales, it is a great idea to make a list of the items you are looking for before you head out to shop. Having a list will help you to focus your searching and will make for a more enjoyable time. It is too easy to wind up with a car full of things you do not need after a day of going to garage sales. So prepare ahead and come up with the few things that you need and even think about a budget for those items.

Another great thing about heading out for garage sales is that you can do it with friends. I love spending a Saturday morning with my closest friends and their daughters. We grab muffins and coffee and then enjoy an entire day of garage sales together. So gather other friends that want to purchase great things for their homes and go! The wonders of garage sales await you.

If you are feeling like you have a little too much clutter in your own home, consider putting on a garage sale. There is no better way to simplify your life than to get rid of unnecessary stuff. Once a year I make every member of my family go through all of their belongings to see what they do and do not need. We then throw a weekend long garage sale to sell our items. My children are in the habit of living simply and having yearly garage sales has been a great way for us to work together on something as a family and to bond together.

So whether you are headed out to purchase new things at garage sales or if you are ready to throw one of your own, be encouraged that garage sales are great. They are one of the best ways to reuse great things.