I made that up, Sinking Stock Syndrome, from some interactions I have had recently with a couple of small business owners. Both owners suffered from this syndrome which had disastrously negative effects on their company, both in revenue and morale. Here is how I define my newly-minted syndrome – an irrational hope that a grossly underperforming salesperson will miraculously turn things around and become a sales superstar. It rarely happens. The problem stems from the business owner who has invested in this failing salesperson. Notice I used “business owners” – I do believe this syndrome is more prevalent among this group as they are closely tied to the business (i.e.… Read More
Continue ReadingSales Departure Time
I do think there is an impending, colossal jump of sales talent in the very near future. The Herman Trend Alert speaks to this potential in their latest report: According to a new CareerBuilder survey, more than one-quarter (28 percent) of sales employers are concerned about losing their high performing workers in the second quarter, while more than one-third (35 percent) of sales workers said it is likely they will start looking for a new job when the economy picks up. And here is why: Increased workloads, longer hours and fewer resources related to the recession may be contributing to job dissatisfaction. Looking at key factors that influence job satisfaction… Read More
Continue ReadingThe Slow Fade Of Strong Salespeople
It has been a hectic week of crashed computers, new blogs set up, new video integrations, business deals, etc. Suffice to say, I have been worn out by the myriad of tasks. In the middle of this busy week, I talked to a strong salesperson I know who has been quite successful in an industry that normally would suffer during this economy. Unfortunately, he is starting to fade in his current position. What I mean is that the company is grinding him down to where he is looking for another opportunity. The main reason is disgustingly simple – he can successfully close deals in this economy, but his company struggles… Read More
Continue ReadingImpending Movement
In sales there has always been career movement. Most successful salespeople have a “hunting” ability for closing deals. They also use this ability to close new deals for themselves in terms of a new job. I believe this approach is intensified in the younger generations – Gen X and Gen Y. This current economy is going to erode much of their loyalty as they watch companies shed employees. This downturn is far worse than that of 2001, but it is two career-altering downturns in less than 10 years. That has to have an effect on younger workers. Some of this movement can be seen in this article from Managesmarter.com: Even… Read More
Continue ReadingThe Key To Sales Retention
Listen, according to this Selling Power article: “One of the mistakes companies have made in the past is that they make decisions without real input from the people who are most affected by the hiring decisions,” says Opton. “Companies need to realize that they always have two sets of customers – internal and external. The minute that someone comes to work for them, that person becomes an internal customer to the organization. The organization needs to listen to what their needs are and act on those needs.” The article references a survey regarding executives’ wants, but it is representative of employees also. The interesting stat that always seems to come… Read More
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