SLH SALES TRAINING MORSEL #78

DAVID RUBINSTEIN

EDITED BY

JIM OLSON

WHAT I LEARNED WHILE WATCHING THE “WOLF OF WALL STREET”

AND

“THE SHARK TANK”

For years, decades, centuries, and perhaps millennia, tons of Sellers has been confronted with the “sell me this pen” dilemma. Whether veteran or rookie, whether on your first job interview or your 30th, or at a party, someone will put you to this particular test. It makes me wonder why this exercise is an indicator of how good we are but it’s out there – even in the movie, “The Wolf of Wall Street” and on the TV show, “The Shark Tank.” 

Early in the movie, Leonardo DiCaprio said to one of his cohorts “sell me this pen.” This dim bulb was having a really difficult time with the task but a colleague at the table simply said, “sign your name.” It’s as simple as “supply and demand.”

Similarly, I was watching “Shark Tank” when, lo and behold, a Sales Trainer appeared looking for an investor. The panelists, including Mark Cuban, began the grilling and I actually felt sympathy for the guy as he was being eaten alive – they are sharks! At that point, Cuban pulled out the “sell me this pen” thing.

As most Sellers are “tellers,” what happens next is predictable. This guy proceeds to describe the pen as if it was sculpted from the world’s finest marble, making a concerted effort to try to convince, persuade and cajole Mark Cuban to buy the pen. No deal and he quietly wimped – I mean, limped – off the stage.

What would have happened if instead of “telling,” we were to “ask” when confronted with this dilemma? If you are presented with this scenario, switch to “ask mode.” For example...

• “If I told you that you can have $1,000,000 and all you have to do is sign your name right here within the next 20 seconds, what would you be willing to pay for this pen?

Boom. It’s just that simple.

What do you think?

Good Selling to you!

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.

 

Sell Like Hell Sales Training Morsel #77

CHANGE, PART 2

DAVID RUBINSTEIN

EDITED BY

JIM OLSON

 

People change for two (2) reasons -- they are either forced to or they see an upside in doing so. Unfortunately, history and battlefields are littered with the results of the former.

 

Here’s to looking for reasons to change – they are all around. It’s just that it can be so difficult. The easier route is to continue what we’re doing – the path of least resistance. But, what are the odds we’re doing what needs to be done in the most efficient and logical manner?

 

There are three (3) steps in change:

          * Intellectual – We are presented with an idea and say, “Hmmm!"

          * Trial – We owe it our company, Managers and ourselves to make an attempt at something different.

           *  Expectations – Unfortunately, if we don’t get the results we want (almost) immediately, we revert to what we’ve always done. See, “path of least resistance.”

I was talking to a young Seller the other day and he told me that he’s been changing the way he sells. He acknowledged that it’s hard but he’s making progress. All was good – then, he killed the buzz. He said he’d gotten comfortable with his changes and that he was satisfied with things. I implored him to immediately get “uncomfortable” again.

Being uncomfortable is the way it’s supposed to feel when changes are being made. Most importantly, know that eventually repetition conquers uncomfortableness. When you have a chance, pick up “Outliers,” a wonderful book by Malcolm Gladwell, wherein he postulates that it takes 10,000 hours of repetition to master an activity.

 

I even took some of  his (and my own) advice the other day. I practiced the weakest part of my golf game, chipping. I hit more than seventy (70) chips – first time ever, I mean it! As a result, I felt really uncomfortable doing it. The good news is that I’m almost there -- just 9,999 hours to go to master that 15 yard chip.

What do you think?

Good Selling to you!

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 #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.

“FEEL SELLING”

VS.

“PROCESS SELLING”

DAVID RUBINSTEIN

EDITED BY

JIM OLSON

So often Sellers tell me they either do, or don’t do, something because of the way they “feel.” Or, they’re “just not ready yet.” This puzzles me. I believe that this “Feel Selling” prevents us from doing what must be done.

I am committed to “Process Selling,” which depends upon logic, sequence and rational thought. It requires having a plan, implementing it and reacting to how the Buyer responds. In many ways, Sales is a science, just like medicine and physics.

Three (3) examples:

When to follow-up.

Sellers frequently don’t know how long to wait before following-up with a Buyer. When dealing with this issue, they tell me “that I usually wait a week or so,” explaining “they don’t want to appear pushy.” This can all be avoided by allowing the process to take over and simply ask the Buyer,“when do you want to hear back from me?” Ask this question every touch.

When asking for referrals.

This is the example that perplexes me the most. Sellers frequently feel that “trust must be established” before having the right to ask for a referral. For me, if a Sales Training opportunity is “in the books,” I will usually wait for the Training to occur before asking for a referral. But, if I’m in cold-call mode and am told that this particular person will not buy, I immediately ask if they know anyone else who might be a candidate.

When asking for the order.

Sellers are most uncomfortable doing this for a number of reasons – primarily, not understanding where they are in the process. We can ask for the order assertively, without being pushy or rude. Use the “Tell and Chase” method, which allows us to present a course of action and then ask, “how’s that sound?” If you are “feeling” really uncomfortable, just ask “what’s the next step?

Go with process over feel. What’s the worst thing can happen? As long as we’re professional in how we deal with folks, all is good. So, are you a “Feel Seller” or a “Process Seller?” What do you want to be? As Tina Turner once said – kinda --  “what’s feel got to do with it?”

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 #73

THE NEXT STEP SCENARIO MEMO

DAVID RUBINSTEIN

EDITED BY

JIM OLSON

Here’s something that will take just a tiny bit of time yet yield a more thorough understanding of “next steps” in the Sales process. And, should create more time to focus on more important things.

How many times have you heard from a client that they “forgot to do” what they said they would? Or, that they didn’t realize that they were supposed to do something at all? How often are we the culprit in not following-through on what was promised simply because our memory sometimes fails us? It is very tough getting old!

Today’s technology allows us to stay in touch as never before. Communication is instantaneous as many companies begin outfitting their Sellers with I-Pads or some other pad-option to this end. At the very least, almost everyone has a smart phone. Whether office-based or in the field, always put your next steps in writing. Begin using the “Next Step Scenario Memo.”

Within three (3) minutes of ringing off a call or leaving an office, send an e-mail...

THE NEXT STEP SCENARIO MEMO

Thanks for the time.

·        Because it’s appropriate and professional.

I’m going to....

·         Establish what I – the Seller – will be doing next.

·         Establish a date and time to follow-up.

·         Etc.

You’re going to...

·         This is what the Buyer will be doing next.

·         Check budgets.

·         Arrange a meeting with colleagues.

·         Etc.

We’re going to....

·         Lunch, golf or the next meeting.

·         Etc.

Always “chase it.”

·         HTS?

Again, thanks.

·         There you go.

This will take self-discipline to initiate but is well worth it. Everyone will know exactly their responsibilities and be clear about how things are going to proceed – if it’s said, it should be written.

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 #72

 “HOW AM I DOING?”

DAVID RUBINSTEIN

EDITED BY

JIM OLSON

It’s the time of year to take stock of what we’ve done and how we’ve done it. And, to know whether we’ve been naughty or nice. Hopefully, those who judge are okey doke with our performance.

Because of the hectic pace of everything we do, how often do we do what Ed Koch, the past Mayor of New York City, always did? Simply ask his constituency, “how am I doing?” There was a United Airlines commercial a while back that featured a conference room with Sellers milling around waiting for a meeting to start. The Sales Manager enters and announces that we “are going to see our clients right away,” and distributes airline tickets as smiles appear all around. It is essential that we let our best clients know that we are willing to fix what needs fixing in our relationships.

Reach out to the top accounts in your business. Pick a workable number but make certain they are the top 15% of your business. Send a survey via e-mail, fax or snail mail. The questions are few but powerful:

• From 0– 10, how satisfied are you with the job being done by us?
• What two (2) things are we presently doing that should be continued?
• What two (2) things aren’t we doing but should start immediately?
•  From 0– 10, how satisfied are you with the job being done by your Sales Rep? 

Plan on a quick follow-up phone call. Better yet, go see them but not in a selling mode. Management should accompany Sellers for this visit. Let them know how important they are to us. Heck, bring a chocolate cake! 

We’ve all heard the saying, “perception is reality.”  Without asking our clients what they really think, we may never know if our customer’s perception matches our perception. Don’t leave that to chance!     

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.