I am a firm believer in scheduling important events, especially those activities that don’t directly involve clients; key is that they don’t involve clients directly, but have a direct impact on my success with clients.  This includes time for voice mail, e-mails, planning, but top of the list is my appointment making time.  The reason is simple, it is the most important thing you can do.  Go ahead, challenge it, but there is no way around it, the most important thing you do as a seller is prospect.  We have all heard the expression “nothing happens till a sales is made”, well sales don’t get made without prospects, so what can be more important than prospecting.

Having said that, very few sales people I work with schedule time for prospecting.  When you ask them why, they can’t tell you.  I hear things like:

“I know I gotta do it, so I don’t schedule it, I do it”

Did you prospect today?

“No”

Yesterday?

“No”

So when?

“I’ve had a really busy week, had to see a client, they needed a replacement for their battery.”   Yup, that $20 you saved on a messenger, will certainly save your company’s bottom line; personally I believe a couple of good prospects could do just a bit more.

This is typical, but does not have to be, just schedule the time.  It is an interesting thing, when something is in your calendar it becomes more important, more real, and people deal with real things differently than abstract concepts.

It has been shown that If you have a meeting scheduled in your calendar, you are less likely to alter it, you will work around it.  Think back to last time you had something scheduled for 10:00 am, and someone of equal importance asked if you would meet with them at the same time, I bet you response was “I can’t do 10:00, but how is 11:30?”  99% of the time the other party rolls with it and you end up meeting both.  Well if you had your prospecting time in your calendar, the same phenomenon would kick in, and you’d get both things done.

I know it seems simple, some of you are saying this is so obvious, yet it doesn’t get done, why, because it is not written down, it is not scheduled in your calendar.  Yes it is basic, but success is built on the basics, the fundamentals.   After all, if it was important, it would be in there; all your important appointments are, including lunch with your buddy.  So why not your most important appointment?

What’s in Your Pipeline?
Tibor Shanto

Last week I met a young man, fresh out of school, entering real estate as a career.  He seemed excited when he discovered what I did for a living, only slightly deterred when I kept insisting my work is best suited to B2B sales, not the residential or consumer focus he was dealing in.   He was keen to tell me that he had just started a company sponsored prospecting program, one his company had employed for all their new realtors with great success.

As he was telling me about the program, which based on what he told me seemed sound and effective, and has delivered consistent results for his employer, he seemed to be hiding a question or a comment.  It turned out that there were aspects of the program that “didn’t appeal” to him, and he was going to ignore or change them, and he was looking for some “expert advice” as to how to change the prospecting system he was being taught.

While it would be easy to write this off as being due to his inexperience, the reality is that you run into the same thing with “experienced, tenured” reps.  In fact the latter group is often worse, the newbie reps want to change or avoid things they don’t understand or scare them, which is the likely scenario with prospecting.  The tenured reps, ostensibly should know better, but they still change things they are presented by sound sources, because they’re experienced, have “earned the right” to do it their way.  Often this “right” is absent when looked at through the filter of results.  Much better to do it the right way, despite rights you think you may have earned.

I since looked up the trainer and their system, and it has a solid track record, what I read made sense, and the broker my new friend works for has been number one or in the top three realtors in their region every year in the last ten years; despite my ego, doesn’t sound like it would improve instantly or measurably from my input.

So in effect, what this young man and every other wannabe, was looking for was my permission to skirt the hard work needed to succeed in his field.  When taken to its logical conclusion, he was looking for me to OK his plan to be at best average, or in many cases where people fail to apply the discipline of success, a failure.

These same sales people don’t apply the same approach to their own athletic pursuits, the need to challenge and stress to improve.  The young man in question and I initially started talking about the Toronto Marathon which we had both run the week before, he told me about his training routine, how he not only keeps to a training regiment, but how he continues to ramp up the routine in order to improve each race he runs.  He spoke about the challenges, pain, recovery and the process of improvement.  The same process he should apply to his sales.  He finally connected the dots when he realised I was telling him that to achieve the improvements in his sales that he was experiencing in his race times, he would have to adopt the complete program, stick to it, and execute it day in and day out if he wanted to see the improvement in his sales result.

What’s in Your Pipeline?
Tibor Shanto

Many sales people, managers and sales leaders spend a lot of time and energy worrying about “buyers’ objections”; making this even a worse problem, is the fact that much of that time and energy is spent on trying to avoid “buyers’ objections”.

Realistically however, there is only one way to avoid objections, it works every time, with the only side effect being a lack of revenue; the secret is to stop interacting with the market.  If you don’t make or go to the call, you will not face rejection.  Surprisingly, many is sales have chosen this path, and have maintained employment with some pretty lackluster companies.  But assuming you are looking for revenue, growth and success, the above is not the strategy for you, you are much better off dealing with or managing buyer objections as they come up.

The fact is, I don’t really understand why it is sellers want to avoid objections to begin with, after all objection indicate the beginning “engagement” at some level, and isn’t engagement what we are after?  Ideally quality engagement, but without a beginning, it is hard to build quality.

Once you accept that objections are not the enemy but an opportunity to leverage and expand on a point or a line of discussion.  How you do that will differ slightly based on you current relationship with the buyer, and when in the cycle the objection surfaces.

Early in the cycle, the initial call, maybe even a cold call, you are likely dealing with two dynamics, first their need to avoid yet another interruption from a sales person.  As has been discussed in this blog before, the one thing you and the buyer have in common is the 24 hour day, how you use it will determine success, our call, is an attempt by an unknown party to steal some of that precious time, so unless you are calling the exact right person, at the exact right time, you are an interruption, a time thief, something to be avoided.

Second, the basic instinct of reluctance to change.  Even if you can get past the point above, change requires time, money and effort.  What you hear as an objection, often is a vocalization of their weighing the pros and cons of considering and/or acting on the change.  If you can look at it that way, you can also understand what you have to do to help them take on the consideration for change, and move the process from prospecting to selling; in the EDGE vernacular, from Engage to Discovery.

Late in the cycle, objections are manifestations of another factor, but one that extends from the risks and realities associated with change.  Even though you may have effectively dealt with this earlier, it comes up again just before they agree to move forward.  In other words, the objection is good, and ripe with opportunity.  Unless you blow it by getting defensive and start “justifying things”.  If you executed the Discovery stage well, and used what you learned to gain commitment, there is no need to be defensive.  Just reiterate points you agreed to and gain agreement before moving on or glossing over the point.

Remember, they are about to bring on a change, while they may be comfortable with it, they carry the risk if something goes slightly wrong, even if only a temporary glitch, they are in the spot light in their organization and in front of customers.  Their objection is more a cry for reassurance than indication that they do not want to commit.   Give me that objection any day, as it is a clear opportunity to reassure and win.

What’s in Your Pipeline?
Tibor Shanto

For maximum impact, sellers need to focus on changing and improving elements of their sale that they need to execute day in and day out.  All too many sales people fixate on unimportant elements of their sales, costing them time, sales, and stress.  Does not need to be that way, after all, you’ll need you health to spend your hard earned commissions.

http://www.youtube.com/watch?v=C4AqaJc6xUI

What’s in Your Pipeline?
Tibor Shanto

Few sales people are true hunters, and even among hunters, few call outside of their comfort zone, specifically senior executives. We can pretend it’s not true, but based on my discussions with sales VP’s and business owners it is.  They tell me their people don’t do it enough, and they hardly hear from sales people selling things that impact critical parts of their business.  But let’s not dwell on why some don’t do it, and let’s focus on why they should and how it will help them win.

1.  Top Man/Woman on Totem Pole – no matter how big or small the company, the President along the VP’s set the strategic direction for their companies, and the more you are aligned with that the better you will do. The challenge is that these are rarely expressed in terms of product, but objectives, thing the want to and need to achieve. So if you sell using the the language of product, you need to stop, and start speaking the subject “here is how I, my offering and company will help you exceed your objectives”. Once you do that you will have a number of doors open to you, both figuratively and literally. The literal part segues us to the second reason.

2.  Use My Name, Please -  No one knows better who the real decision makers, influencers, movers and shakers are within their organizations. That knowledge and understanding alone is worth gold, but an introduction, a recommendation, a direct mandate, well, thats like a cocktail mix of gold, oil, and more. Want to be the gold standard, nothing beats being sanctioned by the leader of the organization.

3.  Friends in High Places – we have all faced scenarios where the decision was down to you and an alternate provider, that is when you want to have the right people in your corner, and who can be more “right” than the president or VP.  When there is a tie, you want to have a tie breaker, and of you master point number 1 above, that tie breaker will break for you.

These are three reasons why you ALWAYS WANT TO CALL HIGH, in the organization that is. Master this and you will win more deals, not only due to the points above, but the process of mastering them will set you up for continuous improvement and success in engaging with the entire organization, and help you play to win.

Next Step

• Call everyone involved in the success you can deliver
• Sell in a multilingual way
• Don’t hesitate to lean on your friends

“The doer and the thinker, no allowances for the other”

Strategy and planning are important to sales success, but nothing beats execution.  Acting, with some forethought, will pay dividends almost every time, and every time, is infinitely better than not acting until “it’s just right”.

Too often we wait for the “perfect moment”, the “right opportunity” before we act, only to have some of the “almost right opportunities” slip away.  The buyer won’t wait, and despite what they may say, many will compromise and settle for a solution that met 90% of their expectations, especially when there is an astute sales person pointing out that perfection does not exist, and that 90% is often much more practical, and profitable than waiting for perfection.

There is no shame in formulating a plan, putting it into action, reviewing the outcome making adjustments, and going at it again.  In fact, it is an opportunity for a more meaningful engagement with your buyer as you put them in a position to help you better understand their requirements and objectives.

The problem with perfection is it leave no room for input, a risky scenario for sales people.  Funny because one of the reasons sales people give for wanting to get it “perfect” before they act, is not wanting to look foolish in front of the buyer, which is often the result of waiting for the perfect moment.  Not by design, what happens is that there is so much work and effort that goes into getting it just so, that  they now need to demonstrate the knowledge and effort that went into the call.  It is OK, and more productive to leave a little room to learn from the buyer, learning in this way can be profitable.

When review call or account plans, I often hear reps say “I think so”, I’ll ask why not check with the buyer, and they’ll tell me they don’t want to look foolish by asking.  Funny how some of the same reps don’t mind looking foolish losing the sale or missing quota.  Buyers are not evil, they are not out to see reps fail, they just want to get the best for their company and specific requirements, if your INTENT IS GENUINE and supported by your actions, buyers are much more likely to work.

It is easy to wait for the right moment, but as my friend Anthony Iannarino, pointed out, there is no sales metric for waiting.

We have all commented on the futility of paralysis by analysis, well we in sales are not immune to it, and like others, we can avoid it.  Don’t find yourself Failing By Omission, remember in sales, it is about Execution, everything else is just talk.

What’s in Your Pipeline?
Tibor Shanto

Ask any group of sales people what they want to achieve with their buyers, and a vast majority will tell you they want to build rapport and establish a “relationship” with buyers. It seems like the Politically Correct thing to say, sounds nice, sounds safe, and frankly sounds easy; all the ingredients that the 80% are looking for. Now don’t get me wrong, having a relationship with your buyers and customers is important, but when measured in results and revenue, not all it’s cracked up to be.

Myself, and I believe the 20%, would rather achieve being “important” to their buyers and clients. Because when they want to achieve important things, they turn to the people they believe and perceive to be important for the task, regardless of the relationship. How many times did you think you had a relationship, while the other company ended up with the order?

Read on…

What’s in Your Pipeline?
Tibor Shanto

One common objection sales people face when making prospecting calls, is when the potentially prospect says “now is not the right time”.  While timing is important, and understanding how specific triggers can help improve your timing, the fact remains that perfecting your timing will only help you in a very (very very) small way, in a very narrow part of you potential prospect segment.  Here is why.

Timing is only important with two buyer groups, Passive, those who have realized the Status Quo no longer meets their requirements, and have decided to learn or check out “what’s out there”.  Not actively looking, but getting feelers out, looking at some web sites, information, getting acclimatized, hence Passive. The other group are those Active buyers who have decided to buy, even what to buy, is now just down to where and from whom; this is where the order takers thrive.  But together these two groups are a small part of the market, maybe 30%, but the remaining 70%, the Status Quo, timing, will by definition always be off.  As a result, you have two choices, the popular choice for many whose business cards say Sales Representative, is to avoid prospecting and fully engaging with these potential buyers; taking the advice of some questionable experts who will encourage them to “nurture”.  “After some nurturing, when they are ready, they will call you, since you stuck with them.” OK

So if you want to really change the outcome, read make more sales and generate more revenue, you need to work on the Status Quo, the 70% where you will always be too early, the 70% where other fear to tread.

The reality of timing is it will ALWAYS be either too Late or too Soon.  If they are Passive or Active buyers, it will always be too late, and if they are in Status Quo, it will always be too early, because they do not perceive a “need”, until something changes and it needs to be NOW.

That being said, it is not as difficult to overcome the challenge as some will make you believe.  First resolve to engage the entire market, including those currently removed from the market.  Because you not only know that their circumstance will change, and what may seem too early becomes, “I need it now”, but given your experience you know what is likely to be the catalyst for that change, the challenges they will face and the solution they will need to resolve it.

How?  By studying and understanding what led to that moment in the past with existing clients, prospects, and deals that did not go your way.  Once you know this, by tracking deals you’ve won, lost and those that ended in no decision.  You will understand what events led up to and caused the change, with that you can prepare, position and act.  It takes work, sometimes boring work, but with the right tools, and right approach, you can take timing and turn it your way.

By studying past outcomes and inputs, you can take proactive steps to ensure that you don’t enter the fray too late, and always capitalize on opportunities other sales people and prospects will say is too soon.

It is never the right time if you relinquish control, and always the right time if you are willing to put in the work, and ask, “is it ever the right time?”

Next Step

• Call everyone, not just the easy targets
• Understand where they may be based on experience
• You dictate the time

What’s in Your Pipeline?
Tibor Shanto

There a host of things you can focus on to master to improve your sales execution and results, but none more than the need to master time.  We all start with 24 hours at the start of the day, and how we use it will determine our success more than anything else.  I have never heard a sales person, no matter how good, tell me they have run out skills, but at one point they have all run out of time.

There are however a few simple things you can do to tilt things your way.  The key is keeping it simple, which is not easy, especially for people in ‘complex sales’; oddly and often, what makes the sale complex is inefficient  time allocation.  The other is actually taking specific planned steps, rather than putting things off forcing people to multi-task, a really stupid concept.

Chunk It – It is safe to say that most people’s attention is challenged throughout the day, but sales people, well we seem to have a special form of ADHD, jumping from thing to another, then multi-tasking (what a stupid concept), to try to catch up and get things done. It is a lot more practical chunk your time and focus on one specific task at a time.  Rather than making a call, then sending that same person an e-mail; then “researching” before the next call, then checking voice and e-mail.  Make your calls, then do all the e-mails you committed to send, do your research for all your calls at once, and so on.  If your memory is failing, then make notes and do them all at once.  Simple, but you need to do it, and bank the time you save.

Shift your tasks – There are certain things need to get done at a specific time, while other things can float, meaning they have to get done, but as long as they are done by deadline, doesn’t matter when it gets done.  Simple but to the point, you need to make your calls when the buyers are around, but I can write a proposal any time before I need to present it.  A proposal written at 2:00 pm is not better than one created at 6:00, but chances are better that a prospect will be open to meeting at 2:00 more so than 6:00.  This is also true for research, list preparation, product updates, and Starbucks.  Simple, but you need to do it, and bank the time you save.

Protect – Speaking of Starbucks, you don’t have to go when ever your buddies go, especially buddies who haven’t made goal the last few years.  People do not see time in a tangible way, as a result, they don’t always value it the same way as say food, or money.  We are social creatures, and therefore susceptible to group thinking, and if you believe the 80/20 rule, the unproductive 80%, seems to have a lot of time, and a lot of pull.  Just because they want to discuss every call in last nights game does not mean you have to.  Stick to your agenda, you can talk about the game at a time that suits you, not the 80%.  Ask yourself why they always seem to have time for that, but not for making quota.  Simple, but you need to do it, and bank the time you save.

Next Step

• Know what you have to complete to be successful
• Allocate your time to those success factors
• Do it

What’s in Your Pipeline?
Tibor Shanto

If you’re a basketball or hockey fan, you are (should be) enjoying the playoffs. For the most part the level of play, intensity and excitement of the game is at its highest level (most of the time).  Every play counts, it is do or die time, and it brings out the best in players.

Some players have made a career out of being clutch playoff players, think of “Mr. October”, Reggie Jackson, and others who have distinguished themselves with their post season play.  But while pro athletes can afford to or even thrive in being sporadic in their playing, as a sales professional you simply cannot.  You have to bring your A game, you playoff game everyday.

Team players may not want to go through slumps, others on the team can step up to fill the void, even solo athletes can survive a lull, but as a seller you can’t.   Easing up on you focus and intensity even for a short time can have devastating consequences now and in the future.  No where is that more evident than in prospecting.

Letting up on your prospecting to look after other “more important things”has an immediate negative impact, in the form of a light pipeline.  With a lack of prospects, there is greater pressure to close what is in your pipeline now, leading you to take desperate measures to close deals that you may not even pursue if you had a bounty of prospects in your funnel.  Deals you would disqualify, now you try to compromise, and let’s face it in sales speak “compromise” means discount. Discount means lesser margins, less reinvestment opportunity for your company, and more. The pressures of an empty pipeline are immense, regardless of the cause, it is a lot like falling behind early in the game, then using all you energy and skill to catch up, but not enough energy to put it away.

Further, you will the impact again at a predictable point in time in the future, in fact that point in time is exactly the length of your sales cycle.  If you have a three month cycle, and you don’t put anything in your funnel today, you’ll be getting little more in three months; and if you have a 3:1 closing ratio, you best be putting three things in your funnel just to have a chance in regulation time.

While the Habs may make some trades, pick up a draft choice and look to next season, your VP can’t trade, but he can fire, so you need to sell like its the playoffs everyday.

Next Step

• Know you ratios
• Make sure they are right for the entire cycle
• Don’t let it go to sudden death

What’s in Your Pipeline?
Tibor Shanto