Direct Sales - What's a small company to do? - iFive Alliances2024-03-29T13:38:06Zhttp://ifivealliances.ning.com/forum/topics/direct-sales-whats-a-small?commentId=3234727%3AComment%3A16550&x=1&feed=yes&xn_auth=noAnd now (self servingly) I ha…tag:ifivealliances.ning.com,2013-11-23:3234727:Comment:165502013-11-23T17:40:33.451ZPaul Terlemezianhttp://ifivealliances.ning.com/profile/PaulTerlemezian
<p>And now (self servingly) I have added a fourth component to "Are you a contractor, consultant, company?" - It is "Are you a collaborator?"</p>
<p>I got an email today with the following question: </p>
<ul>
<li>"I recently have been asked by a company to do some consulting. Without going into to much detail, I think I can do what they need in about 40 hours. I thought you might have some insight into "typical" pricing; Any thoughts are appreciated."</li>
</ul>
<p>Here is my…</p>
<p>And now (self servingly) I have added a fourth component to "Are you a contractor, consultant, company?" - It is "Are you a collaborator?"</p>
<p>I got an email today with the following question: </p>
<ul>
<li>"I recently have been asked by a company to do some consulting. Without going into to much detail, I think I can do what they need in about 40 hours. I thought you might have some insight into "typical" pricing; Any thoughts are appreciated."</li>
</ul>
<p>Here is my response:</p>
<ul>
<li>What is it worth to the buyer and why?</li>
<li>How confident are you that you can help them?</li>
<li>Do you want more business like this with them and others?</li>
</ul>
<p> </p>
<p>Which of the following is your pricing motivation?</p>
<ol>
<li>To win (quote a low hourly)</li>
<li>To win and establish your reputation (quote a modest fixed price)</li>
<li>To win, establish your reputation and be sure you are helping your client (quote a higher fixed price)</li>
<li>To win, establish your reputation, be sure you are helping your client and leverage more business (Put some of your compensation at risk)</li>
</ol>
<p> </p>
<p>You also need to be sure that your motivation matches the buyer’s interests? Do they view you as:</p>
<p> </p>
<ol>
<li>A contractor doing just what they tell you to do?</li>
<li>A consultant that has a process that produces better results without having to be told what to do?</li>
<li>A company that commits to assuring that they get the results they want now?</li>
<li>A collaborator that can be depended on to help get results now and in the future?</li>
</ol>
<p>How is your answer reflected in your scope of work (actions) not just in your words (intentions?)</p>
<p></p>
<p><br/> <br/> <cite>Paul Terlemezian said:</cite></p>
<blockquote cite="http://ifivealliances.ning.com/forum/topics/direct-sales-whats-a-small?commentId=3234727%3AComment%3A521#3234727Comment521"><div>One of the questions I try to get answered as I work with a small training or consulting companies (but not with small technnology companies) is the following:<br/> <br/> <b>Are you a contractor, consultant or a company?</b> Most answer that they are a company since they have formed a legal entity that proves that they own a company. My question is focused on how you operate and how your customers perceive you. The way you successfully sell will become a function of which of these entities you really represent. The kind of questions that your buyers ask or answer will communicate you how you are perceived.<br/> <br/> <u><b>Contractor:</b></u> Delivers a defined product/service (usually defined by the buyer) for a predetermined price. You'll be asked what you do and what it costs.<br/> <br/> <u><b>Consultant:</b></u> Focuses on determining source of the buyer's need and then defining the process to address the need and produce the solution. The scope of the solution is often broader than the consutant's ability to implement. If the buyer is reluctant to engage at this level of discussion with you it may mean that they perceive you as a contractor or that they are only enabled to engage contractors. You'll be asked how you help, how long it will take and what other investments they will need to make to be successful. You will need to answer these questions.<br/> <br/> <u><b>Company</b></u> Promises to deliver the business results that the buyer needs. This will involve performing a consultative role and then fulfilling the solution - even if and especially if the solution requires capabilities outside the direct control of the company. You'll be asked to describe the results you've produced for others. You'll need to prove their ROI is achieved.<br/> <br/> Which are you? Contractor, Consultant or Company? Is this how your buyers perceive you? What has been effective for you in changing the perception of your buyer?</div>
</blockquote> Today, I responded to a discu…tag:ifivealliances.ning.com,2013-10-11:3234727:Comment:163012013-10-11T18:50:50.992ZPaul Terlemezianhttp://ifivealliances.ning.com/profile/PaulTerlemezian
<p>Today, I responded to a discussion in the Sales and Marketing Executives LinkedIn Group related to cold-calling. My response got "likes", positive comments and it generated a phone call to me from one of the participants (A President of a 25 person Furniture Manufacturing company.) Here is my response:</p>
<p> </p>
<p>Cold calling today is as out-of-date as using a fax for "instant communications." <br></br><br></br> Instead of cold-calling I suggest you upgrade your sales skills to the 21st…</p>
<p>Today, I responded to a discussion in the Sales and Marketing Executives LinkedIn Group related to cold-calling. My response got "likes", positive comments and it generated a phone call to me from one of the participants (A President of a 25 person Furniture Manufacturing company.) Here is my response:</p>
<p> </p>
<p>Cold calling today is as out-of-date as using a fax for "instant communications." <br/><br/> Instead of cold-calling I suggest you upgrade your sales skills to the 21st century. <br/><br/> -Have an interesting LinkedIn Profile (one that would encourage people who are your prospects to learn more about you.) <br/> -Be an active participant in LinkedIn Groups and networking activities where your intentions are to learn and to help others - but never to sell! <br/> -Be generous towards others. Endorse them or recommend them via LinkedIn - with sincerity, "like" their comments. <br/> -Start your own LinkedIn Group and invite others to start discussions. Use it to bring attention to others that are helping others learn - again - do not use it to sell. Use it to learn and to give visibility for others. <br/> -Engage in one-on-one dialogue via LinkedIn with people that make interesting comments. <br/> -Expand your network with people who know you and value what you do. <br/> -Target your prospects - join groups that they are in - study them - find someone that knows them and is willing to introduce you to them - not because you are a salesperson - but because you are an interesting person that is interested in others and is known to help them. <br/><br/> Selling is a wonderful career - because it forces us to constantly become better - embrace it and enjoy it - love what you do, love helping others, love bringing value to others - enjoy the benefits that will follow!</p> You've done a smart thing by…tag:ifivealliances.ning.com,2013-09-28:3234727:Comment:160362013-09-28T02:45:21.838ZPaul Terlemezianhttp://ifivealliances.ning.com/profile/PaulTerlemezian
<p>You've done a smart thing by defining your target buyer (strategic focus.) Your next step will be to define and execute your approach. Cold-calling via phone or email is the least efficient approach. Speaking engagements are good - what else have you thought about doing to make contact with buyers?<br></br> <br></br> <cite>Robert Earl Baldwin said:…</cite></p>
<p>You've done a smart thing by defining your target buyer (strategic focus.) Your next step will be to define and execute your approach. Cold-calling via phone or email is the least efficient approach. Speaking engagements are good - what else have you thought about doing to make contact with buyers?<br/> <br/> <cite>Robert Earl Baldwin said:</cite></p>
<blockquote cite="http://ifivealliances.ning.com/forum/topics/direct-sales-whats-a-small?commentId=3234727%3AComment%3A16032&xg_source=msg_com_forum#3234727Comment16032"><div><p>As Progressive Solutions (an online provider of continuing education for Nursing Professionals and Medical Technicians) enters its second year as a registered small business, we have only just become fully operational. With that said, we are focused on effective sales strategies, and figuring out what that will look and sound like for our company. Verbally provoking interest in who/what a company is about to its target demo is directly connected to any business's ability to succeed. Progressive Solutions is now perfecting our process for achieving this goal by,</p>
<p>-calling skilled nursing facilities by phone (in states where there are Nursing CE requirements) to connect with a Director of Nursing (DON), and offering free CE hours for their nursing staff</p>
<p>-contacting the Director of Nursing Education (by phone and/or email) at GA hospitals and Skilled Nursing Facilities to bring attention to the Georgia upcoming 2016 Nursing CE requirement, and to offer enticing ways for their organization to fulfill the new requirement through Progressive Solutions.</p>
<p>-host speaking engagements that showcase our expertise and open dialogue about the 2016 GA requirement.</p>
<p>-with regard to Govmnt Contracting sales, we will contact appropriate current contract holders who's contracts expire within 1 years time and focus on not only our ability to perform, but our Minority Veterans Business Owners status to assist us in being plugged into the government agencies needing our services.</p>
</div>
</blockquote> As Progressive Solutions (an…tag:ifivealliances.ning.com,2013-09-17:3234727:Comment:160322013-09-17T18:19:50.892ZRobert Earl Baldwinhttp://ifivealliances.ning.com/profile/RobertEarlBaldwin
<p>As Progressive Solutions (an online provider of continuing education for Nursing Professionals and Medical Technicians) enters its second year as a registered small business, we have only just become fully operational. With that said, we are focused on effective sales strategies, and figuring out what that will look and sound like for our company. Verbally provoking interest in who/what a company is about to its target demo is directly connected to any business's ability to succeed. …</p>
<p>As Progressive Solutions (an online provider of continuing education for Nursing Professionals and Medical Technicians) enters its second year as a registered small business, we have only just become fully operational. With that said, we are focused on effective sales strategies, and figuring out what that will look and sound like for our company. Verbally provoking interest in who/what a company is about to its target demo is directly connected to any business's ability to succeed. Progressive Solutions is now perfecting our process for achieving this goal by,</p>
<p>-calling skilled nursing facilities by phone (in states where there are Nursing CE requirements) to connect with a Director of Nursing (DON), and offering free CE hours for their nursing staff</p>
<p>-contacting the Director of Nursing Education (by phone and/or email) at GA hospitals and Skilled Nursing Facilities to bring attention to the Georgia upcoming 2016 Nursing CE requirement, and to offer enticing ways for their organization to fulfill the new requirement through Progressive Solutions.</p>
<p>-host speaking engagements that showcase our expertise and open dialogue about the 2016 GA requirement.</p>
<p>-with regard to Govmnt Contracting sales, we will contact appropriate current contract holders who's contracts expire within 1 years time and focus on not only our ability to perform, but our Minority Veterans Business Owners status to assist us in being plugged into the government agencies needing our services.</p> Another favorite technique is…tag:ifivealliances.ning.com,2012-06-07:3234727:Comment:135112012-06-07T20:10:24.370ZPaul Terlemezianhttp://ifivealliances.ning.com/profile/PaulTerlemezian
<p>Another favorite technique is what I refer to as the "Past, Present, Future." The purpose of this technique is to help your client/prospect discover something they did not know they needed. It is part of the value creation of the sales process itself. Would it be "music to your ears" if your client/prospect said to you as their salesperson: "I am so glad you called, I always learn something useful about <span style="text-decoration: underline;"><strong>my</strong></span> business when I talk…</p>
<p>Another favorite technique is what I refer to as the "Past, Present, Future." The purpose of this technique is to help your client/prospect discover something they did not know they needed. It is part of the value creation of the sales process itself. Would it be "music to your ears" if your client/prospect said to you as their salesperson: "I am so glad you called, I always learn something useful about <span style="text-decoration: underline;"><strong>my</strong></span> business when I talk with you."</p>
<p> </p>
<p>I use this PPF technique when I have a new prospect or when I am reviewing my work with a past client. Sometimes I use it subtly as part of planning my questions and other times I try to make it into a joke. Here's the joke (please laugh or at least humor me by telling me that it made you laugh:</p>
<p> </p>
<p>Joke:</p>
<p>Dear client/prospect - I've been thinking about you a lot lately and I have three areas that I am really concerned about.</p>
<p>Client/prospect/response: "Really - what are those three?"</p>
<p>Punchline: Your past, your present and your future</p>
<p>Client/prospect/response: Genuine laughter</p>
<p> </p>
<p>And then you get serious:</p>
<p> </p>
<p>Past: I would like to fully understand your previous investments related to (the value your client/prospect desires.) My goal is to find a way to extend the value you are gaining from your previous investments.</p>
<p> </p>
<p>Present: I would like to understand your current priorities. My goal is to accelerate the success of your identified initiatives.</p>
<p> </p>
<p>Future: With your permission I would like to present my ideas for where I see the future in relation to (the value your client/prospect desires.) My work every day allows me to see innovations that others are embracing.</p>
<p> </p>
<p>Then, with permission I ask my questions related to these three areas.</p>
<p> </p>
<p>Almost without exception - I get an enthusiastic positive response to this approach. Also - one area stands out in the client/prospect's minds - which one do you think it is?</p> Interesting article - 10 Thin…tag:ifivealliances.ning.com,2011-10-11:3234727:Comment:96482011-10-11T12:38:28.359ZPaul Terlemezianhttp://ifivealliances.ning.com/profile/PaulTerlemezian
<p><a href="http://www.bnet.com/blog/small-biz-advice/10-things-never-to-tell-sales-prospects/4789?promo=808&tag=nl.e808" target="_blank">Interesting article</a> - 10 Things Never to Tell Sales Prospects by Jeff Haden:</p>
<p>If you use any of the following phrases I encourage you to read the article and learn why Jeff thinks you should not use the following:</p>
<ol>
<li><strong>“Customer focused.”</strong></li>
<li><strong>“Best in class.”</strong></li>
<li><strong>“Low-hanging…</strong></li>
</ol>
<p><a target="_blank" href="http://www.bnet.com/blog/small-biz-advice/10-things-never-to-tell-sales-prospects/4789?promo=808&tag=nl.e808">Interesting article</a> - 10 Things Never to Tell Sales Prospects by Jeff Haden:</p>
<p>If you use any of the following phrases I encourage you to read the article and learn why Jeff thinks you should not use the following:</p>
<ol>
<li><strong>“Customer focused.”</strong></li>
<li><strong>“Best in class.”</strong></li>
<li><strong>“Low-hanging fruit."</strong></li>
<li><strong>“Exceed expectations.”</strong></li>
<li><strong>“Unique.”</strong></li>
<li><strong>“Value added.”</strong></li>
<li><strong>“Expert.”</strong></li>
<li><strong>“Exceptional ROI.”</strong></li>
<li><strong>“Partner.”</strong></li>
<li><strong>“Turn key.”</strong></li>
</ol>
<p>My understanding of his point is that it is better to understand, offer proof and demonstrate your fit for the value the client needs than to use words to convince. How did this article help you?</p> This article offered four sim…tag:ifivealliances.ning.com,2011-04-22:3234727:Comment:75722011-04-22T17:47:32.406ZPaul Terlemezianhttp://ifivealliances.ning.com/profile/PaulTerlemezian
<p>This <a href="http://www.bnet.com/blog/salesmachine/four-simple-rules-to-double-your-sales/15101?promo=808&tag=nl.e808" target="_blank">article</a> offered four simple ways to double your sales. Is it really simple to do so? Let's see:</p>
<p> </p>
<p>1. Use research as a platform for learning.</p>
<p> </p>
<p>I agree and here's how. Sincerely approach your prospect and your research as if you were the client. Would you purchase the products/services of your prospect? What would it feel…</p>
<p>This <a target="_blank" href="http://www.bnet.com/blog/salesmachine/four-simple-rules-to-double-your-sales/15101?promo=808&tag=nl.e808">article</a> offered four simple ways to double your sales. Is it really simple to do so? Let's see:</p>
<p> </p>
<p>1. Use research as a platform for learning.</p>
<p> </p>
<p>I agree and here's how. Sincerely approach your prospect and your research as if you were the client. Would you purchase the products/services of your prospect? What would it feel like to be their client? As you prepare this way and focus your questions with your prospect along these lines - your prospect will be doing the talkng and you will be less inclined to push your product/service. As you listen to their "pitch" you are likely to find ways that you can help them with their clients/prospects. If you cannot help them - you really have no chance in selling anything to them?</p>
<p> </p>
<p>2. Ask questions that create a broader context.</p>
<p> </p>
<p>Here's how - focus on understanding their previous investments that were related to what you have to offer now. Then move to their current interests and finish with what they perceive they will need in the future. Find out what worked or did not work and why. Find out what they believe is triggering current and future needs. Focus on finding a way to make their previous investments continue to provide value and gain their permission to provide break through ideas for the future.</p>
<p> </p>
<p>3. Present solutions in terms of customer value.</p>
<p> </p>
<p>You want to reach to the fourth level of executive access by understanding their value needs well enough that you can:</p>
<p> </p>
<p>Level 1 - describe how your capabilities meet their expressed needs</p>
<p>Level 2 - credibly prove that you can meet their needs</p>
<p>Level 3 - help them discover an unknown need that you can help them with</p>
<p>Level 4 - be the person they call when they have a problem that needs to be solved</p>
<p> </p>
<p>4. Consider "closing" as the beginning of the sale</p>
<p> </p>
<p>Actually, I prefer to consider the "closing" as the middle of the sale. If you are providing value to the prospect during every interaction and continually taking work off of their plate and putting it on yours - you will become the provider of choice.</p>
<p> </p>
<p>What do you think?</p> How about RAINMAKER! :)
Paul…tag:ifivealliances.ning.com,2011-03-10:3234727:Comment:65462011-03-10T21:28:50.340ZCarlos Quinterohttp://ifivealliances.ning.com/profile/CarlosQuintero
How about RAINMAKER! :)<br></br>
<br></br>
<cite>Paul Terlemezian said:</cite><br />
<blockquote cite="http://ifivealliances.ning.com/forum/topics/direct-sales-whats-a-small#3234727Comment2101"><div>My thinking about direct selling - which I continue to self-challenge and invite challenge from others is based on <b>Treacy and Wiersema (Discipline of Market Leaders), Howard Stephens (Selling the Wheel),</b> iFive Alliances (SWOT) and Good Luck. Blending these four philosophies creates the best selling…</div>
</blockquote>
How about RAINMAKER! :)<br/>
<br/>
<cite>Paul Terlemezian said:</cite><br />
<blockquote cite="http://ifivealliances.ning.com/forum/topics/direct-sales-whats-a-small#3234727Comment2101"><div>My thinking about direct selling - which I continue to self-challenge and invite challenge from others is based on <b>Treacy and Wiersema (Discipline of Market Leaders), Howard Stephens (Selling the Wheel),</b> iFive Alliances (SWOT) and Good Luck. Blending these four philosophies creates the best selling approach (IMHO.)<br/> <br/>
<u><b>Discipline of Market Leaders</b></u> (What is the company’s strategy?)<br/>
i. Lowest cost most readily available solution<br/>
ii. Simply the best solution for everyone<br/>
iii. The best for you "dear client"<br/>
<br/>
<u><b>Selling the Wheel</b></u> (How does a specific prospect view the company?)<br/>
i. Complex solution to a savvy buyer<br/>
ii. Complex solution to an unsavvy buyer<br/>
iii. Simple solution to a savvy buyer<br/>
iv. Simple solution to an unsavvy buyer<br/>
<br/>
<b>SWOT</b> (What will the salesperson be able to execute effectively?)<br/>
i. Achievement<br/>
ii. Enjoyment<br/>
<br/>
<b>Good Luck</b> (Are the stakeholders ready for realism?)<br/>
i. Preparation meeting opportunity<br/>
ii. Hard Work<br/>
iii. Chance<br/>
<br/>
All of us (CEO, Sales person, prospect, external consultant) are subject to whimsical and measured decisions. That’s life and it’s also where the art of selling meets the science of selling!<br/>
<br/>
Please challenge my thinking - it will help me learn and therefore be better at helping you.</div>
</blockquote> No clear sustainable method. …tag:ifivealliances.ning.com,2011-03-10:3234727:Comment:64472011-03-10T21:27:42.552ZCarlos Quinterohttp://ifivealliances.ning.com/profile/CarlosQuintero
No clear sustainable method. Limited funds requires that we often bet on ONE individual at one time, vs. multiple individuals. Requirement by many to have a base salary, benefits, and upside potential makes it hard to sustain unless the salesperson is able to produce sufficient call activity (not sales) quickly, since the sales cycles are typically so long. How to nurture relationships that ultimately leads to training related solutions require a large learning curve for most.
No clear sustainable method. Limited funds requires that we often bet on ONE individual at one time, vs. multiple individuals. Requirement by many to have a base salary, benefits, and upside potential makes it hard to sustain unless the salesperson is able to produce sufficient call activity (not sales) quickly, since the sales cycles are typically so long. How to nurture relationships that ultimately leads to training related solutions require a large learning curve for most. A friend sent me this link to…tag:ifivealliances.ning.com,2011-03-10:3234727:Comment:64422011-03-10T01:42:38.662ZPaul Terlemezianhttp://ifivealliances.ning.com/profile/PaulTerlemezian
<p>A friend sent me this <a href="http://www.idonato.com/2009/03/11/11-rules-to-sell-to-donato-diorio-ceo-broadlook-technologies/" target="_blank">link</a> to an article written by a CEO. It expressed how he "likes" to be sold to. My guess is that he is not alone. Do you follow these guidelines?</p>
<ol>
<li>Get my name right.</li>
<li>Personalize. I will not respond to a mass emails. Period.</li>
<li>Understand what my company does.</li>
<li>Customize your sales pitch for my company. Don’t…</li>
</ol>
<p>A friend sent me this <a target="_blank" href="http://www.idonato.com/2009/03/11/11-rules-to-sell-to-donato-diorio-ceo-broadlook-technologies/">link</a> to an article written by a CEO. It expressed how he "likes" to be sold to. My guess is that he is not alone. Do you follow these guidelines?</p>
<ol>
<li>Get my name right.</li>
<li>Personalize. I will not respond to a mass emails. Period.</li>
<li>Understand what my company does.</li>
<li>Customize your sales pitch for my company. Don’t use generalities. Research what my company does and ask me good questions.</li>
<li>Call and email. </li>
<li>In your voice mail, say your phone number two times. </li>
<li>Don’t use a voice mail script. If you do, you are not at the level yet to successfully sell to me. Try again next year.</li>
<li>Don’t use a negative sell.</li>
<li>Know your product inside out. If you can’t answer nearly all my questions, you should not be reaching out to me.</li>
<li>Don’t call me if someone else at my company makes the decision.</li>
</ol>
<p> </p>