Sometimes the best advice is simply stated which is true of this Inc.com post titled The Fallacy of an Open-Door Policy. This topic catches my attention in that some of the worst managers I worked for claimed profusely that they had an open-door policy. They stated it, but we sales reps all knew it was a ruse. I think the author strikes a perfect chord with this: You need to create an environment where people can speak up in any venue. I’ve had some of my most important communications with employees driving in the car, standing in the lunchroom, or walking through the shop floor. How true…and difficult to put… Read More
Continue Reading3 Steps To Successful Negotiation
We’re in the middle of a couple negotiations between our customers and their top sales candidate selection. The companies are smaller and these positions are fairly important within the department so they are not “slotted” pay ranges that are more common in larger companies. Both negotiations have similar topics (salary and commission plans are always prevalent in sales negotiations) but different approaches by the candidates. Call it serendipity, but I came across a timely SalesHQ article titled How To Structure A Negotiation. The author, Jonathan Farrington, provides 3 important steps for any negotiation whether it be for a potential hire or a potential customer: The recommended structure for negotiations is:… Read More
Continue ReadingRedefining The Sales Funnel
This video from Selling Power discusses a unique look at the traditional sales funnel. The author in the video states that the sales funnel has to be thrown out and redesigned based on the prospect’s process. The 4 minute video is an excellent discussion on this topic: If you have trouble with the video, here is the link to watch it on the Selling Power website.
Continue Reading7 Deadly Sins of Sales Managers
First we posted on the 7 Deadly Sins of Salespeople over a year ago. Now comes the follow up – leaders, or sales managers. Each item has a full paragraph explanation to it which I have removed for space. However, 3 of them warranted the full paragraph: 1. Passiveness 2. Unaccountability 3. Thoughtlessness Leaders think. They acknowledge they are making assumptions when they make them and that they are considering opinion rather than dress it up as a fact. They do not apply business models from other industries or businesses without considering whether their external operating environment, strengths and weaknesses are or can be made to be similar. They do… Read More
Continue ReadingManaging Remote Relationships
The management landscape is changing drastically as more salespeople move to remote/home offices within their territory. Yet, many aspects of sales seems to be moving more towards relationship-based sales. Yes, relationships have always been a key part of selling, but it seems to be the greater piece today. Information flows freely on the Internet so the differentiation between companies is being pushed onto their salespeople. So we have arrived at the place where relationship-driven salespeople work remotely instead of at the corporate office. The strain of this new arrangement falls squarely on the sales manager. The modern-days sales manager has to work with limitations that were less common just 10… Read More
Continue ReadingShortening The Sales Cycle
Salesopedia.com offers a good article this week on a timely topic – How to Shorten Your Sales Cycle. The author cuts to the quick on an issue we encounter frequently: To begin with, many sales people just don’t know how long their sales cycle is, we ask and we hear things like “depends” (sometime it fits), “it changes” (it always seems longer during Daylight Savings Time), and the all time favorite, “well you know it’s different in our business”. Well it’s not really. Underlying this is the fact that many reps and organizations do not know what their sale looks like, they have not deconstructing their sale, identified the basic… Read More
Continue ReadingDon’t Drink The Kool-Aid
The doom-and-gloom economic reporting continues and as a sales manager it is important to keep a pulse on your team. More articles are being released on the topic of employees getting skittish about their future with the company. Bob Rosner offers some good advice for these employees in his Working Wounded blog: Be careful to not drink the Kool-Aid with coworkers by being hyper-critical about your company’s future. Get an outside opinion. If you work for a public company, talk to a stock broker. A search in our city listed 391 brokers who offer a free consultation. If you work for a smaller company, check with vendors to see if… Read More
Continue ReadingMarquee vs. Mundane
I’ve been working with a handful of sales managers recently as they onramp new salespeople and I have seen a stumbling block occur more than once. The issue has to do with the sales manager’s perception of the typical sale. Sales managers, in most instances, work primarily with large, high-visibility accounts as they should. The issue that occurs is that the manager starts to view these marquee accounts as the model, or even norm, for all other accounts. What happens is that the manager loses sight of the history of activities that went into earning that customer’s business. Rarely do new salespeople fly out of the gate and close a… Read More
Continue ReadingFrom Closing To Coaching
Selling Power.com’s Sales Management newsletter provides an excellent article that addresses a common issue in sales management – how do you move from salesperson to sales manager? One important aspect of this move is becoming a coach for your sales team. The suggestions in the article are worth the read, but this one is especially remarkable: Keep questions open. Most managers know they should ask open-ended questions in a coaching situation, but closed questions still crop up far too often. Closed questions can be answered in one or two words – yes, no, good, okay. Open-ended questions, on the other hand, require the responder to think and elaborate and help… Read More
Continue ReadingRetention Strategy – Limit Rules
BusinessWeek.com’s playbook section offers a very short, but highly intriguing article title How Netflix nets and keeps talent. Here it is in it’s entirety: PAY LAVISHLY Higher-than-average salaries—and tying bonuses and raises to the market, not a pool—can make stars less likely to bolt. Money is no object in hiring. PROVIDE COMPENSATION CHOICE Employees are more likely to excel if they can pick how much of their compensation they get in stock rather than cash. FOSTER TALENT HUNTERS Encouraging everyone to hire the three people they’ve loved working with most during their careers creates an intense, fun workplace. LET THEM GO Don’t give B performers a middling raise. Give them… Read More
Continue Reading