Increase Revenue By Solving Sales Problems

increase revenueThe role of the professional seller is to generate revenue. For companies to grow, they need to increase revenue. Sometimes though, sellers may fall short of goals. And then you need to do something about it.

Are your sellers creating as much revenue as they could be?  If the answer is “no”, then there is a problem in your sales process.  Following is a list of obstacles that may be standing in the way.  I think you will find it pretty comprehensive.  Your challenge, should you choose to accept it, is to:

1) Identify what pertains to your organization

2) Prioritize what will have the greatest impact on revenue if corrected

3) Set a S.M.A.R.T. goal around removing each obstacle

4) Execute, track, measure, and continuously evaluate your progress

If you want to increase sales, this should be a major focus for you!

 

Here are the most common obstacles to increasing revenue: 

Reluctance to prospect (attitude)
Lack of prospecting focus (skill)
Lack of a systematic approach to prospecting (marketing)
Unable to establish enough interest by prospects for an initial meeting

Fear of personal rejection
Unable to secure an adequate number of referrals
Can’t develop an adequate number of centers of influence
Unaware of a prospect’s buying process
Ignores the fact that a buying process exists<code Continue reading

You Can Improve Productivity By 50%

“What we need is not more knowing, but more doing!”

Many years ago, Charles Schwab, CEO of the Bethlehem Steel Company was talking with a management consultant.  The consultant inferred to helping Schwab’s people gain more knowledge around managing.

Schwab issued the famous words “What we need around here is not more knowing, but more doing!  If you will help us to do the things we already know we ought to do, I’ll gladly pay you anything you ask!”

Like any smart consultant would do, he took Schwab up on his challenge.  “In 20 minutes, I’ll show you how to get your organization to do at least 50% more” the consultant said.

The advice he gave was as follows:

– Write down and prioritize your 5 most important tasks to complete in the next business day
– Put the list in your pocket until tomorrow when you will take it out and start working on number one
– Look at that item every 15 minutes until it’s done
– Then move on to the next and then the next
– Don’t be concerned if you only finish two or three or even one because you will be working on the most important things

Schwab, who was paid a million dollars per year by Andrew Carnegie for his abilities, said that this was the most profitable lesson he had ever learned.  What was it?  

The organization small or large that understands and executes on the power of focusing on priorities will progress and succeed.

Schwab paid the consultant $25,000 for this advice, which was A LOT of money at the time.  Especially for just a few minutes.  And there you have it for nothing!

Now you just need to do something with it.  If you need some help implementing, just call!



~adapted from “Mastering the Rockefeller Habits” by Verne Harnish

15.5 Powerful Reasons To Make Goal Setting A Habit

goal setting

Everybody knows that the concept of goals exists, right?  The reality though is that only about 5% of  business people have written goals as part of a strategic plan and action steps for achieving them.

Would it be any surprise that the most successful business people are conscious intentional goal setters!?  I hope not…

If you want to know why goals are such an important part of your plan and how you can benefit from making them a habit in your business and life, here are 15.5 powerful reasons (Do you need any more?!)

1) Goals separate the high achievers from the masses.  Achievement of desired goals is the one thing that is the difference between mediocrity and the success you want.

2) Goals help you make better decisions.  When you have an important decision, you need only to look at your goals and priorities.  Your choice will be the one which helps take you closer to your goals.

3) Goals help establish direction and clarify your thinking on what you really want.

4) Goals help keep you on target.  They provide your constant North Star.

5) Goals help keep you focused.  After all, the outcomes and rewards are what you decided you really want, right?

Continue reading

Find Inspiration In Unexpected Places

Inspiration

Sometimes we can get inspiration from the places you least expect it.  To illustrate, I took my son to an optional Saturday morning science lesson at his school.   I decided to stick around for the hour and found myself wandering the hallways to take up some of the time.  Consequently, I was blown away by what I saw.

The Messages

The first saying I found stenciled on the wall was:

Live your life as an exclamation and not an explanation.”  Wow, I thought.  That’s a pretty cool message.  I continued walking and found:

If you find a path with no obstacles, it probably doesn’t lead anywhere”,

“Some succeed because they are destined, some succeed because they are determined” and,

“If you can dream it you can achieve it.”

By now I was thinking that I should be out conquering the world after just a few minutes here.  The kids in this school are surrounded by these sayings. They are reminded of  these messages every day!  Subsequently, I wandered further and found:

“I dream my painting and then I paint my dream” (Van Gogh),

“Don’t dream your life, live your dreams”,

and my favorite “Never let the fear of striking out get in your way”, Babe Ruth.

Conclusion

Positive conditioning in the early formative years will create the most effective leaders of tomorrow.  It leads to the attitudes of “I can do it” and “How can we do it?” As opposed to “We’ve never done it that way“, and “It cant be done.”. I’m thrilled with Immersing these kids in this type of positivity.

Indeed, we need this attitude motivation for ourselves too!  How often do you take the opportunity to fill your own mind with positive, achievement oriented thoughts?  The more you do, I guarantee, the more productive you will be.

To illustrate: When you read those quotations, how do those quotes make you feel?  Pretty good, I’ll bet.

Here’s how it works: Better feelings lead to better thoughts, better thoughts lead to better actions, and better actions lead to better results.  Surround yourself with positive people, and spend time everyday filling your mind with positive thoughts.  To this end, I’m thinking about auditing a few third grade classes so I can spend some more time in those hallways…

 

What Makes a Company Truly Great

Business Growth

If you want to increase your chances of delivering business growth and exceptional performance well into the future, read on!  The information that follows is relevant to you regardless of the size or revenue of your business.

Two Deloitte consultants conducted a study of twenty five thousand companies to come to a conclusion of what makes a company truly great.  They selected 340 that had done well enough for long enough to qualify as truly exceptional.   It is a study similar to that of Collins in his work “Good to Great.”  Although the Deloitte results showed that:

The many and diverse choices that made certain companies great were consistent with just 3 seemingly elementary rules.”

The rules are:

#1:  Better before cheaper

#2: Revenue before cost

#3: There are no other rules

According to this study, these rules are not how a company takes specific actions.  Nor can this be considered strategy.  Rather they are “fundamental concepts on which companies have built greatness over many years.”

Mergers and acquisitions, customer focus, innovation, and risk taking were associated with all levels of performance equally from the good to the great.  The rules came into focus when the emphasis was shifted from what these companies did to how they thought.   An interesting concept…

The rules provide what is believed to be credible answers to every business leader’s basic questions about superior performance.

Let’s take a deeper look at each. Continue reading

Is it Work or is it Productivity

productivity

Do you remember the physics definition of “Work”?  Specifically, it’s moving ‘X’ pounds ‘Y’ distance.

The next definition is significant as well.

Managerial Talent can be defined as: The behavior exhibited by a manager which increases the amount of productive, results-oriented, and profitable behavior on the part of others in the organization on a daily basis. 

This definition assumes:

  • That desired results are clearly defined and,
  • That the behaviors leading to those results are known.

Understanding both definitions is important to a manager or leader.

Let’s tie them together…

If you pushed on one of the walls of your office for a whole work day and it didn’t move, did you work?  Certainly not!  Energy expended doesn’t matter.  The question is: What did I accomplish?

 Indeed, if I was responsible for delivering newspapers and I drove around all day but didn’t deliver a single one, was I productive?  I was busy!  However,  not productive, right?  The productive behavior is the delivery of the newspapers.  The desired result is 100% of subscribers got their papers on time.

 

A key takeaway:

Never confuse motion with progress and activity with results.  Continue reading

The Reason You Are Losing Sales

Sales

I’ve been in professional sales for over 20 years.  But, I don’t ever sell anything.  “What!?” you might be saying.

I don’t sell anything because I sit back and let my probable purchaser take from me.  I know that if I give them enough information and ask the right questions, they will make the decision which is in their best interest.

The key: they need to see the benefit

Whenever two people see things the same way, they most likely come to the same conclusion.  This is a universal law.  Effective questioning in your sales process will help people see what you see.  Which is that they should do business with you.   Giving the right information, only the information that is relevant and important to your probable purchaser will help too.  (Note well that I am not talking about “pitching!”) Continue reading

Meeting and Information Flow- How Well Do You Do This?

meeting flow

Having a meeting flow routine  is an important discipline all high performing organizations have, regardless of size.   I took the following from “Mastering the Rockefeller Habits” by Verne Harnish.  (A great read by the way!)

There may be some things that you can add to your organization which would be beneficial.

I would suggest talking with your leadership team about how this might benefit you.  If it’s a “GO”,  make a decision on how to implement ASAP.

Most importantly, make a COMMITMENT to stick with this for the long haul.  Specifically, you don’t want to be viewed by your employees as leaders who start an initiative and then allow everyone to slip back into their old ways.  This will make any future continuous improvement efforts you have much more difficult if they are viewed as a “flavor of the month.”

 

Meeting Flow: A routine to set you free!

Predictable winners are those who have established a rhythm and a routine of having meetings.

How will you make your quarterly goals if you aren’t driving performance monthly, weekly, even daily?

Regular meetings with key people allow you to talk about new opportunities, big picture concerns, and bottlenecks as they arise.

 

Daily Meeting-An Imperative

Continue reading

Time Management Problems? They’re Not What You Think!

time management

I can’t even count how many executives, managers, professional sellers, and entrepreneurs over the years have told me they have time management problems.  Time management problems are not even time management problems.  They are GOALS CLARIFICATION problems.  Because when you are clear on your goals, you know how you should be spending your time.   Period.

If you, my reader, self-identify with time management problems, you probably don’t have goals.  How close am I?

Forget about “Oh, I have goals in my head…”  If they aren’t written down, you don’t really have goals.  Period.  You’re just pretending you do.

If you think you have time management problems, here is what you need to do:

Continue reading

If You Don’t Plan, You Are Guilty of Neglect

business planning

I believe that there are 3 basic beliefs when it comes to business.  They are particularly relevant when it comes to business planning:

1. The best way to predict your future is to create it. 

2. The greatest form of abuse in this world is neglect. 

3. If you fail to plan, you are planning to fail. 

There is a simple reason which makes this important.  If you don’t invest the time to think through your goals and craft your plan  for the rest of 2017 and then for 2018, you’ll be guilty of neglect…and you will by default, compromise your future. 

Pause for just a minute and give that statement the consideration it deserves.

 You can create the future you want on your terms.  Use the planning model below.  It is simple to understand.  However, it is not simplistic. Plan on spending about 4-6 hours to work through it.  It is easy to implement but without focus and accountability, you can easily get off course.  All the components are there which are necessary for you to have a plan which is actionable.   

Get started on your future today. As Henry David Thoreau has so beautifully stated, “Go confidently in the direction of your dreams. Live the life you’ve always imagined.”

 

Business Planning Model Continue reading