Posts Tagged ‘networking’

Simple 3 step revenue production system

It still boils down to who you know, what you know, and a tested, revenue-producing selling process.

1. It’s still who you know.

Surprise. The Internet hasn’t changed the importance of human relationships. If anything, it has made them even more valuable. On one hand, Technology has made it easier for buyers to search for product and services when they know what they’re looking for. On the other hand, technology has allowed buyers to erect “firewalls” to protect them from sellers. Sellers like you who have new ideas, breakthrough products, and innovative services can’t assume that buyers will figure it out themselves.

You’ve got to master the art of business networking to get in front of the best prospects. So get out there and work your Rolodex®. And if you think I may know people who know people, check out my LinkedIn profile and send me an invitation to connect our networks.

2. It’s the process, stupid.

For every business there’s an optimal process for building the customer base. Most organizations, though, fail to write it down. The absence of a documented process creates the notion that Selling is a Black Art, with the sales staff being the magicians.

Leave Merlin in Camelot and define your process.

But don’t stop there. Create a procedure for assessing your sales opportunities. For example, here are the questions my firm (Venture Marketing) uses to determine where we’re at with each prospect. It’s pretty simple. The process takes the guesswork (and the sandbagging and excuses) out of our forecasting while keeping everyone on-task.

Venture Marketing (VM) Opportunity Assessment System

  1. This quote is for the final decision maker
  2. A decision has been promised upon delivery of our quote
  3. I know what can go wrong, if anything
  4. Proposed project will be profitable
  5. The prospective customer is creditworthy
  6. We want to do business with this organization
  7. It won’t upset any existing customers
  8. I have a good assessment of the potential headaches
  9. Decision maker has agreed to buy from us
  10. It’s a real opportunity, i.e., they are committed to buying from someone
  11. Budget exists
  12. They know about how much it will cost
  13. There is not competition (including the option of doing marketing in-house)
  14. There isn’t a marketing vp or they’re looking for one and are open to outsourcing to VM
  15. There is dissatisfaction with the current marketing vp and will drop him/her for us
  16. The time frame is appropriate, reasonable
  17. They don’t need competitive quotes
  18. Partnering with VM will solve their problem
3. Get a Tune-Up

After winning a long and tough tournament, Lee Trevino heads off to the driving range to perfect a single shot by practicing it two or three hundred times, until his hands are blistered. What do you do to perfect your pitch [shot]?

What are you doing to keep your sales team “in shape?”

Top professionals know how to stay in shape. They practice, focusing on their weaknesses. They make time to practice and work through mock sales situations where they can make mistakes without negative consequences. Customers are not their proving ground. God forbid.

Smart managers know, too, that investing in continuous improvement has pays off…big. Training improves the top line and continues to be the best employee retention program going. Don’t belive me? Ask your employees.