SLH SALES TRAINING MORSEL #76

WHAT’S MY TIME WORTH?

“THE AVERAGE BILLABLE HOUR”

DAVID RUBINSTEIN

EDITED BY

JIM OLSON

If we don’t know the value of something, how much value does it really have?

Sellers tell me they have time management problems. They say they don’t have enough time to get done what needs to get done. But this may not be the problem at all. These same folks, given more time each day, would in all likelihood, still run out of time. Or, continue to do the same things that got them into the predicament – always repeating the same actions.

In any given work day, how do we decide what to do? Usually, today is an extension of yesterday, only a day later. We need to look hard at how we use our time and understand its true value. Only then can we understand the extent to which our activities make sense and lead to maximizing revenue. What if we knew exactly what an hour of our time was worth? How might that help in prioritizing what we do with our time? What impact would that have on our results?

Lawyers and accountants are acutely aware of the value of their time – it’s how they bill. Perhaps Sellers should look to these professionals as a way to become more efficient in how we work. It’s only when we know what our time is worth that we can make wise decisions on how to utilize that asset.

Here’s a way to determine the value of our time.

Establish how much money you want to make in this year.

Take that number and divide it by 12 – number of months.

Then by 4 – number of weeks in a month.

Then by 5 – number of days in a work week.

Then by 6 – number of “quality” work hours per day.

The result is the “Average Billable Hour” for you this working year.

Knowing what our time is worth will help focus our efforts on those things that make the most sense for us. Be mindful that every hour you don’t generate that number, you have to “double up” the next hour. Sometimes we will need to delegate an activity or ask a colleague to help. Or, maybe we should pay someone to do what makes no sense for us to do. The goal is to leverage every working hour to benefit our bottom line.

What do you think?

Good Selling to you!

BLOG – http://selllikehellsales.blogspot.com

SLH Sales System Morsels are meant exclusively for non-commercial use by the recipient. No modifications of any kind may be made without the written permission of the SLH Sales System.

SLH SALES TRAINING MORSEL #75

HOW ABOUT A SECOND OPINION?

DAVID RUBINSTEIN

EDITED BY

JIM OLSON

Just the other day, I was talking to my pal Joel, a sales guy with Klochko Equipment in Detroit.  During the discussion I had an epiphany of sorts. It dawned on me that most Sellers work by themselves, actually in a silo of sorts. Regardless of how many Sellers and Managers are on their team, most Sellers feel like they are “lone wolves” doing battle everyday – much like Willie Loman in “Death of a Salesman.”

What’s weird is that Sellers might be the only professionals who insist upon going it alone. This is almost a “badge of courage” thing. But, in every other profession, soliciting second opinions is normal operating procedure. Accountants do it. Doctors do it. Lawyers do it. These folks are most concerned about getting it right the first time. They know that their clients can suffer when mistakes are made. So, they ask for input and advice.

When I started working alone a long time ago, the thing I missed most was being able to bounce ideas off other folks (no one ever was hurt as a result!). Isolation made work more difficult. As time passed, clients became friends and valuable resources when I wanted another voice.

When was the last time you sought a second opinion on a sales situation? When was the last time you reached out for just a little help? Of course, nothing guarantees that other opinions make sense or are helpful, but getting a second opinion will either help establish a better approach or confirm your existing plan.

What do you think?

Good Selling to you!

BLOG – http://selllikehellsales.blogspot.com

SLH Sales System Morsels are meant exclusively for non-commercial use by the recipient. No modifications of any kind may be made without the written permission of the SLH Sales System.