Archive for the ‘Differentiating You’ Category

Sales Proposals: Give Yourself the Best Shot

January 31, 2012 by Scott Olsen

A start-up software company we’re working with is trying to gain traction in the market. In a recent assessment of their sales process we noticed that every time the sales person delivered a product demonstration, she would follow up with a generic proposal by email. We identified two fatal flaws with this process. First the proposals were generic and second the proposals were emailed. By itself, the generic proposal diminished the sales person’s success rate. Combined with the fact that she didn’t walk through the proposal live via the web or at least the phone, really put her in a limited spot. With this approach, how could she put herself in the best possible position to get feedback and have the chance to clarify or make adjustments to win deals? If the sale is important, it’s worth taking the time to tailor and present the proposal live, especially for a start up  who needs that critical feedback to learn and adjust along the way.

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Categories: Closing Skills, Differentiating You, Engaging Your Customers, Executive Selling, Sales Proposals, Selling Process

From the Buyer’s Perspective: Getting the “Best Deal”

January 20, 2012 by Scott Olsen

Have you ever thought you had a agreement, then ran into a negotiating buzz saw? You probably ran into a strategic purchasing professional or someone they trained. In this economy, more and more organizations are engaging strategic purchasing professionals to:

  1. help evaluate and recommend the best products and services to satisfy their needs
  2. ensure their clients pay as little as possible on each purchase
  3. minimize short and long term risks

Just like the sales person has incentives to hit revenue targets, strategic purchasing professionals are likely to have MBOs for cost savings with bonuses tied to them. How do they create these huge cost savings? Initially, by doing extensive research, cost benefit analysis and networking to determine which vendors they should talk with in the first place. Second, by being the best negotiator in the room. When negotiating, they leverage power where ever possible. Here are a few examples of the types of power they leverage:

  • Creativity
  • Vested Interest (the ability to get you to invest in them and their company)
  • Legal
  • Relationship
  • Endurance
  • Expertise

In addition to leveraging power, strategic purchasing professionals may use tactics to test their counterpart’s (the sales person’s) negotiation skills. Negotiation tactics are defined as games or tricks used to expose weaknesses within the sales person and his/her organization. For example, some of the most common tactics include:

  • competition
  • violins
  • intimidating language or tone of voice
  • foggy memory
  • ultimatum
  • inside information

Strategic purchasing professionals always do their homework. As a business to business salesperson you may walk away from the agreement with your commission and then you’re off to the next opportunity. The strategic purchasing professional has to live with your product for years. They never want to make a mistake.

My advise to business to business sales professionals. Take the time to become a skilled negotiator and prepare for each negotiation. The idea that anyone is a “natural negotiator” is a contradiction in terms. The skilled and prepared negotiator gets the best deals on average. Recently, a sales managers told me “I have a really good sales person, unfortunately he’s a poor negotiator. As a result of the discounts his customers get away with, he has to close twice as many deals as his colleagues.”

I recently interviewed a group of strategic purchasing professionals to get their opinion on two topics: what would they list as fatal flaws for a sales person and what’s a compelling approach a sales person can make to be more effective?

Fatal flaws included:

  1. arrogance
  2. poor presentations/demonstrations that aren’t tailored to the audience
  3. poor follow up
  4. trying to go around the strategic purchasing professional

What approach works with strategic purchasing professions? They need to believe, at the very least, they are paying no more than anyone else for your product or service. By letting the purchaser know that you need to be and are fair to the market you are serving by keeping pricing consistent for like products and service offerings you’re likely to have a smoother and productive negotiation.

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Categories: Differentiating You, Major Account Selling, Negotiation, Sales Management, Sales Skills, Tactical Selling Skills, Uncategorized

The Hostile Business to Business Sales Person

January 11, 2012 by Scott Olsen

You may not want your friends to demonstrate hostile behavior, but professionals who are hostile by nature are more likely to succeed in business sales and high level leadership in the long run than those without it.

Why?

…because their hostile nature tends to fuel their fire day in and day out. So what does this mean to possess a hostile behavior trait? Here’s an example, if the hostile person were to leave their wallet at a restaurant, when they get home and realize this, their likely first thought would be, “I left my wallet at the restaurant. Someone has stole it and spent all of the money. I need to cancel my credit cards immediately.” The opposite of the hostile person in this sense is the tolerant person. If the tolerant person leaves their wallet at a restaurant, when they get home they might think something like, “I left my wallet at the restuarant. I’m sure someone turned it in for me. I’ll just call up the restaurant, ask them to hold it for me and when I swing by tomorrow to pick it up, I might make a best new friend in the process.” This may be an exaggeration, but the point is the tolerant person has a buoyant view of the world, “it’s all going to work out.” On the other hand the hostile person has a view that “the world is a nasty place. It’s a jungle out there. If I don’t get up and fight my way through it everyday, it will eat me up alive.” The hostile person is more likely to wake up each day with a fire in their belling thinking, “what do I have to do today to make something good happen.”

Harness the Hostility

Given the choice between the aggressive sales person and the passive sales person for their team of “hunters,” sales managers know they need the aggressive ones to really make things happen in opening up new territories. The sales manager knows there ’s a risk associated with the hostile sales person, but it’s well worth it if sales person can harness this trait. Matthew Dixon and Brent Adamson’s new book, The Challenger Sale, describes the most effective sales people as assertive, not aggressive, but assertive. Dixon and Adamson go on to compare the assertive and aggressive sales person in the following ways:

Assertive

  • Directly pursues goals in a constructive way
  • Defends own personal boundaries
  • Uses direct language

Aggressive

  • Pursues goals at the expense of  professionalism
  • Attacks others’ personal boundaries
  • Uses antagonistic language

In summary, the hostile trait tends to fuel the fire of the business sales person and high level leader, but it’s only when they transmute this behavior from aggressiveness to assertiveness that they become most effective. For those who want to become more assertive and deal better with aggressive counterparts, I suggest participating in our Effective Negotiation Skills course.

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Categories: Differentiating You, Executive Selling, Sales Management, Sales Skills, Selling in Difficult Times, Uncategorized, professional development, selling

Uncovering Critical Success Factors

January 27, 2011 by Scott Olsen

What are your favorite questions to ask prospects and customers? If you really want to help satisfy your customer’s critical success factors, what questions do you need to ask?

Tom O’Keefe, Chief Revenue Officer at ShopIgniter, and a good friend of mine likes to ask, “What does your business plan demand that you accomplish, that you didn’t accomplish last year?” Michael Gear, VP Sales for GoodData, loves to simply ask, “How our you being measured?”

I’d love to hear the questions that help you uncover your customer’s critical success factors!

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Categories: Differentiating You, Engaging Your Customers, Executive Selling, Questioning Skills, selling

Attitude, Aptitude & Skill

December 19, 2010 by Anthony Nicoli

Attitude: Manner, disposition, feeling, or position with regard to a person or thing. Tendency or orientation, especially of the mind.

Aptitude: Capability; ability; innate or acquired capacity for something; talent. Special fitness.

Skill: The ability coming from one’s knowledge, practice and aptitude to do something well. Competent excellence in performance; dexterity.

Many of you are working to better prepare yourselves to secure a new position or replace previous employment. As you do so, remember that your potential employer is constantly asking themselves questions related to the three areas cited above as they consider candidates for their role.

They are wondering:

Does this person possess the attitude required to help me succeed in my role?

Do they have the inherent qualities that will allow them to not only contribute to my organization, but also assume initiative and leadership?

Do they possess the skills needed to execute the role successfully?

While we remain in a time when employment is dear, recall that your task in seeking a new role is to find one that is a good match for what you have to offer. Too often, we believe that we must jump at a job simply because it is available or offered. This is particularly difficult to resist when we have been without employment for some time.

It is fine to accept a role temporarily to secure financial stability. However, do not let this distract you from your true purpose in seeking new employment. That is, to identify a role that better ables you to grow your level of contribution to the organization and community you serve, and thereby, grow your personal compensation, abilities and character.

The task of your potential employer and yourself is to find a good match between the objectives of the role and the person who will hold it. So, as you work to prepare to interact with potential employers, take time, perhaps substantial time, to become conscious of the attitude you hold and communicate, the natural aptitudes, or strengths, you possess, and the areas in which you have become skilled.

There are many techniques that can help you bring these aspects of yourself to mind and prepare to communicate them to potential employers. We can consider these later. For now, the important thing is to recognize that you must understand yourself so well in these areas that you can, with confidence:

1-      Communicate them to a potential employer to help them make an informed choice among candidates; and

2-      Hold them up to what you understand about your potential new organization, role and manager to make your own choice as to whether you want this new role.

Anthony Nicoli

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Categories: Differentiating You, career development, professional development, professional growth

Effective Negotiation Skills

May 21, 2010 by Scott Olsen

How important is your ability to negotiate, your ability to get what you want and/or need from others? My friend’s daughter wanted to play volleyball in college after a successful high school career. She was accepted into Seattle Pacific University for her academics and the volley ball coach welcomed her onto the team, but didn’t offer her a scholarship. My friend suggested that his daughter specifically ask for a scholarship. After a little more prompting and motivation, my friend’s daughter did ask, and she did receive… a half scholarship! A huge value!

In the book, Women Don’t Ask, by Linda Babcock and Sara Laschever, they note that “By neglecting to negotiate her starting salary for her first job, a women may sacrifice over half a million dollars in lost earnings by the end of her career…” Imagine what effective negotiation skills might mean to you in your personal life, professional career and your ability to make a major impact for your company.

I’d love to hear about the biggest negotiated win you’ve achieved and how you did it! Please share in the space below.

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Categories: Differentiating You, Sales Management, Sales Stories, Tactical Selling Skills, career development, negotiation skills

Establishing Trust and Credibility

July 22, 2008 by Scott Olsen

No Trust No Sale.

As animals, we sense things before our minds have a chance to think things through. We can sense if someone is being authentic, vulnerable and real verses hiding behind a mask or being guarded. 

What instantly imbues trust and credibility?

This is a question that is at the very core of my work as an executive coach and trainer. I had the opportunity to witness first hand the rise of a Regional Account Manager to the position of VP of Sales of a very large and successful software company. We hadn’t talked for over 7 years. In the interim, he left the company amid many changes, including several executive team transitions. With a new CEO on board, he was recruited to come back, not as a Regional Account Manager, but as their VP of Sales with an offer he couldn’t refuse. What was it about him? One of the things was the ability to establish instant rapport with others, especially his ability to do this over the phone with his customers with only the use of his voice. He left me a simple voice message about needing to miss a meeting I inviting him to. I was so impressed by it, I saved it to play it back to participants in my sales training courses (Tactical Selling Skills). In addition to being relevant and personalizing the message, what made his message authentic was the tone of his voice, inflection and pace. His thoughtfulness came through, as he used humor, laughter and vulnerability to explain why he hadn’t called earlier because he was at his daughters art class while his wife was traveling.

What establishes trust and credibility with you?

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Categories: Differentiating You, Engaging Your Customers, Sales Skills, Sales Stories, Trust and Credibility, selling

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