Without a doubt prospecting is the number one problem for sales people. We spend plenty of time "trying" to close business. Probably because once we find someone with any interest at all we can feel comfortable with giving them plenty of reason's to buy.

Even when we get the "I need to think it over" reply, we would rather wait for them to "think it over" than go find someone new to speak with.

It’s the effort of finding someone new to speak with that is the biggest problem. If you want to be more successful in sales, go out and find more people to speak with. Lots of them!

There is little argument that prospecting is one of the disciplines a salesperson must master. Perhaps the most important discipline. Why then is it the one least understood and most often neglected? The most likely reason is that prospecting takes place at the beginning of the selling cycle, but the reward for the time and effort invested are at the end of that cycle.

Many times, your prospecting efforts result in little or no gain at all. You must walk through many doors before finding one person with enough curiosity, let alone sincere interest, to talk with you. You disqualify several suspects before finding one real prospect that eventually becomes your new client or customer.

You can view prospecting from one of two perspectives: An activity filled with frustration and disappointment, or a journey where each unproductive step gets you closer to your ultimate goal and success. The choice is yours. Love it or hate it....just do it.

Come to an Open House January 26th from 9 to 11 am.  To register go to www.ssc.sandler.com

Jeremy Rawitz

© Sandler Systems, Inc. All rights reserved.

As a business owner or manager, there are many factors that contribute to the success...or failure... of your business development processes. (I prefer to call it “sales”, but many folks are more comfortable with other terms, such as business expansion, client development, or rainmaking.)

Here is a straightforward way of analyzing your processes to determine if some added attention in this area will lead to a stronger bottom line:

1. Does your company’s CULTURE foster a broad focus on new client development? Is it typical for the top management and others who create the culture to consistently block time for business growth?
2. Is the company’s MISSION clearly defined? Does it foster an emphasis on sales from all of the employees?
3. Has a VISION for the company been articulated? Do you know where you want the firm to be in three to five years? Does everyone else in the firm know it too?
4. With your current employees, do you have the “horses to pull this wagon up the hill?” Are your key sales and business development people bringing in the steady flow of new business necessary to attain the vision? Do you need more people, different people, or to help the existing people to grow?
5. What BEHAVIORAL CHANGE will be necessary to accomplish your vision? What do your people have to do, and how will they be managed, to assure that the vision will be met?
6. How will you PROFILE your existing staff to understand their strengths and weaknesses in the area of business development?
7. As you bring new people into the firm, how will you SCREEN them for an aptitude and strong motivation for the client development side of the business?
8. What TRAINING will you put in place to assure that the level of knowledge and skill necessary to grow the business to the heights you envision are attained?
9. How will you REINFORCE this training to be certain that their new capabilities are maintained and further enhanced during your climb?
10. Do you and your management team understand and implement “The Magic Sales Formula?” Here it is: (Number of qualified appointments) x (% closed) x (Avg. revenue per account) = Sales Results

Seems like a simple formula. The magic comes not from looking at the absolute numbers in the equation, but in the ANTICIPATED CHANGE in each of the numbers. Let’s start by assuming that each of the three factors has a rating of one. Ask yourself what is a reasonable change you can expect in each area with the proper focus and training. Fill in your own estimates, but let’s try a model often quoted.

Most companies are able to increase the number of qualified prospect appointments by 20% with a change in behavior and attitude. Closing ratios often rise dramatically, like 50% or more, with the appropriate new techniques in place, but let’s be conservative and say 25%. Similarly, a 20% increase in average revenue per account, brought on by better qualification, focused prospecting, and up-selling, can often be attained. Where do all these numbers lead?

1.2 x 1.25 x 1.2 = 1.8

Reasonable and attainable “small” changes in each of these three areas leads to a near DOUBLING of the business.

Take your company through the process of answering each of these questions. As you do so, remember this: You are in control of the destiny of your company. You have the power to dream, the power to change, the power to grow.

Jeremy Rawitz - Sales Strategy Corp. 347-385-8500

© Sandler Systems, Inc. All rights reserved.

Your salespeople need to know where you are going and be excited and PASSIONATE about getting there. You probably have one, but if not, here is a simple strategic plan that we've used successfully with clients for 7 years. The key is that it become a LIVE WORKING DOCUMENT that is presented at least monthly.

Where am I going and how do I get there?

 Vision: Describe your future and your role. Be as specific as possible. For this exercise, you are allowed to dream. What does the future look, feel, and sound like? Use as much present tense wording as possible.

Goals: Measurements along the way to ensure I/we are going in the right direction and progressing at the necessary pace. Goals should be specific, measurable, attainable, realistic, and trackable. Set both personal and professional/company goals for 5 years, 3 years, 1 year, and 90 days.

Strategy: If my life depended on hitting these goals and making this vision a reality (“big picture”), what will I/we have to do, i.e. be positioned to get more of this type of business, find this type of strategic alliance, change our structure to support this, expand to this geography, catch this trend, make more cold calls, improve skills, etc.?

Plan: Completed as a spreadsheet. Where is the revenue going to come from? We need this many of X, producing Y $’s, i.e. new product revenue, services revenue, new account revenue, growth from current account revenue, $’s per territory, etc.

Behavior: What do I/we have to do DAILY/WEEKLY to execute this strategy, hit these goals, and make this vision a reality? What are the high-impact behaviors, i.e. phone calls to key prospects or customers, encouraging employees, communicating my vision, networking events, review long-term goals, prospecting dials, sales appointments, etc.?

Critical one time actions?

REQUIREMENTS:

• PRESENT / EDIT / UPDATE MONTHLY
• NO EXCUSES ENVIRONMENT: Feed opportunity and starve problems
• DESIRE: It’s my mission, I deserve it, I’ll earn it
• COMMITMENT: I’ll do whatever it takes even if I don’t like it
• ACCOUNTABILITY: I’m willing to let someone hold me accountable.

© Sandler Systems, Inc. All rights reserved