Sales & Sales Management Expertise

Variability of Performance – A Side Story

Tags: individual sales success, sales management, Peter Jensen, the 3rd factor, variability in sales performance

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I’ve been writing about solutions to variability of performance and, as often happens, I see/find something connected to the theme of sales or sales management.

Earlier, I discussed three reasons for variability of performance:

  • Situational Factors
  • Task Characteristics
  • Individual Differences

Dr. Peter Jensen, sports psychologist, founder of Performance Coaching, instructor at Queen's School of Business, Canadian Olympic Coach and author of Ignite the 3rd Factor, states the following:

“The developmental potential of human beings has three major components: nature, which establishes the physical and mental road map of an individual; nurture, which includes social and environmental factors that help would an individual; and the Third Factor, which is the factor of choice or "the important role an individual plays in his or her own ‘becoming’.”

Nature, nurture and The Third Factor define individual differences.

I was taking my morning walk when I noticed a young boy and what appeared to be his dad riding their bikes in the cemetery across the street from our house.  The boy seemed to be enjoying himself and feeling the excitement of peddling his bike faster and faster.  I turned my attention back to my walk and then looked back one more time.  I noticed the young boy on the ground, his bicycle a few feet on the ground away from him and his dad dismounting from his bike.  It appeared that the boy had tried to take the corner too fast, lost control of his bike and fell.

I stopped to watch and make sure that there wasn’t a serious injury. The dad walked over to the boy, bent down and spoke to him. Then he sat down on the ground and the boy moved over to sit on his lap; it appeared the man was checking for any injuries on the boy’s arms, legs and head.  All seemed to be well.
I continued walking and then crossed the street like I normally do.  I looked over to my right and again saw the man talking to the boy. The boy climbed back on his bike and continued riding.  And then I pondered.

The boy didn’t wait until the next day to start riding. He didn’t push the bike back to his house.  He didn’t sit there for an hour looking at it, debating if he should try again or not.  He didn’t appear to cry or be afraid.  He just got back on the bike and peddled away.

The Third Factor at work.

As a sales manager or hiring manager, it is difficult to assess talent.  There are many contributing factors that make recruiting difficult.  At Hirebettersalespeople.com, we define 8 steps that, when implemented and executed well, can help eliminate hiring mistakes and improve the probability of success once the hire has been made.  But, one of the steps – the vetting step (assessing, qualifying and interviewing) – is always challenging because of the human factor.

Specifically, the vetting process is difficult because of how hard it is to determine “the will” to succeed in selling rather than “the can” succeed in selling.  The will to sell = The Third Factor.  Objective Management Group’s sales talent assessment and pre-hire assessment does the best job of this (Worlds #1 Sales Talent Assessment) with the following findings:

  • Desire
  • Commitment
  • Responsibility
  • Outlook
  • Figure-it-out factor
  • Source of motivation

Why is this important do know?  It’s important to know because resumes and application answers are great works of fiction.  Over the last 22 years in this business, I’ve seen the development of resumes go from a bullet-pointed document about the history of a candidate to a short story of great accomplishment and adventure.  There are no “bad” resumes anymore.

When you calculate the cost of bad hires, hires that don’t produce as expected, hires that are there and then gone in a blink of an eye (calculate the costs of ghosts), the problem can be, as Roy Riley described it, a two-comma problem.  Yes, you want people that have the required technical expertise; yes, you want people that have experience in your industry; and yes, you want people that have experience selling in your environment and have success selling to prospects you are looking to sell to.

But, if you don’t know exactly how they have succeed in the past, if you don’t know if they are wired to sell and help your company grow, if you don’t know the “third factor” choices they make to succeed in spite of all external factors, then you will continue to fall victim to hiring people that fall off the bike and have a difficult time getting back on the seat.

 

Additional Resources: 

FREE HIRING WEBINAR - You can't afford to miss this one! Do you need to know how to find, recruit and onboard the best possible salespeople? If you answered yes, then join us at 12pm ET on Sept 22 for the Hire Bankers Who Can Sell webinar. Reserve your spot now! --> REGISTER HERE

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Variability in Performance in Sales Teams, pt.3

Tags: improving sales results, managing salespeople, getting consistent sales performance, variability in sales performance

It all starts with people, right?

Wrong… or at least I believe that to be wrong.  When I was the strength coach at Iowa State University, we had a debate/discussion/disagreement on in-season strength training.  Actually, the disagreement was with just one person, our defensive coordinator, who eventually went on to be a great success in the NFL while I went on to start and run a success business in sales training, coaching and consulting. 

The reason for the discussion was to eliminate variability of performance mid to late season. At the time, I didn’t recognize it as eliminating variability of performance. I just suggested to our football staff that, if we wanted to eliminate or minimize injuries to our players, we needed to keep their strength and endurance at a high level.  Other consistently high-level performing teams, like Nebraska and Penn State, had very aggressive in-season conditioning programs.  I respected the conditioning coaching at both of those programs and the records of the teams spoke for themselves.

The argument started and ended with this:

  • Coordinator: “What good is it if my linebacker can bench press 300 pounds but doesn't know where to go?”
  • Me: “What good is it if he knows where to go but gets his ass kicked once he gets there? Or if the guy that is supposed to be there is on the sideline because he separated his shoulder, blew out a knee or pulled a hamstring?”
  • Head Coach: “Starting next week, we’ll make sure our guys are working out at the end of practice every Tuesday and Thursday and we will include light lifting sessions during our recovery running and stretching sessions on Sunday.”

The variability of performance didn’t just apply to a single individual, but the performance of the team was impacted by the inability of one person to perform or perform well because of injury or endurance.  What an organization needs is a system and process in place to minimize lapses or lack of performance by individuals.

I believe it all starts with systems and processes in place to support the function and execution of the people expected to perform.  The organization needs to be strong and have endurance to support the skills of those going to the right place at the right time.

Take a look at the following findings from a Sales Effectiveness and Impact Analysis that we conducted for a sales team:

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Management is asked to identify, answer questions about the systems and processes in their organization that support the implementation and execution of effective selling by their sales team. The numbers and colors you see are reflective of how they answered the questions.  There are no “leap in logic” questions and findings here.  Just straight up math based on an individual evaluation by the manager.  If they said “yes” to five questions in accountability/tracking, they got a five.  In this example, the number is 2.

Forget about what the colors and numbers actually represent in terms of implementation or execution - just look at the variability of numbers in the red boxes.  This alone is a major contributor to the variability of performance expected of those to execute sales systems and processes that are designed to help them be more productive.  Looking at “accountability” alone should give you pause to think about your own organization:

  • Failure to have or execute a tracking system that looks at leading indicators for future sales success
  • Tracking frequency is hit or miss on critical “smart numbers”
  • There is a lack of automation thus making it easy for salespeople to make excuses about having time to record data needed to help them grow and improve.
  • If there is automation, in this case, there aren’t any standards or there is a lack of accountability to using the automation (score of 4). So, if you have incomplete data, or missing data or incorrect data, then how can an organization gather any reliable business intelligence to help support sales teams grow, correct problems or eliminate constraints in their sales approach?

If variability of performance is an issue - and it always is (see below) - then assess your systems and processes as you assess the variability of the individuals that make up your sales management and sales team.  That post is coming NEXT!

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Additional Resources: 

FREE HIRING WEBINAR - You can't afford to miss this one! Do you need to know how to find, recruit and onboard the best possible salespeople? If you answered yes, then join us at 12pm ET on Sept 22 for the Hire Bankers Who Can Sell webinar. Reserve your spot now! --> REGISTER HERE

 

Variability in Performance in Sales Teams, pt.2

Tags: sales management, managing sales teams, getting consistent sales results, variability in sales performance

Let’s start with the right people

This isn’t new.  Jim Collins in Good to Great clearly explains the concept of “getting the right people on the bus” and “getting those people in the right seats”.  Aside from that, however, there are other “people” components that have an impact on the variability of performance that are probably just off the radar of our thinking when we discuss ‘The Right People”.

There are three other contributing factors:

  1. The Executive Champion – The executive champion has to support the effort when things get tough. The executive champion has to be able to manage up and down when resistance begins to fight against change.  This leadership starts at the very beginning of the process of trying to get it right relative to minimizing/eliminating the variability of performance.  When we first started our engagement with the community bank at Key Bank, their fearless leader, Beth Mooney, stated time and again in all of our kick-off sessions that “This too shall NOT pass.”  Beth did a great job of anticipating the reactions of the participants and warned them early that they were not going to be able to “wait this out”.
  2. The people being trained/coached/motivated/instructed on what and how change was/needed to take place need to be coachable and trainable. In our studies of sales organizations over the last 20 years, it is clear that about 20% of the population is not trainable or coachable.  This doesn’t make them bad people. This doesn’t mean that they should be exited. BUT, if some of these people manage large books of business and, as a result, have become account managers instead of business developers, then there is going to be a variance in performance simply because they are unwilling to change.
  3. The trainers – Are they capable of leading people to a place where they themselves have never been? Think about a field general trying to lead a group of soldiers into a battle and that general had never experienced the stress, fear, and confusion of battle.  How can a trainer possible facilitate transformation discussions if they’ve never done it themselves?

Let’s talk about the right stuff

We are getting ready to submit a recommendation for a workshop at a conference where we’ve had the great privilege to speak for the last 6 years.  One of the topics we can submit content for is Insurance and Protection Products.  I’m anticipating that respondents attending the conference looking for a platform to speak about their insurance and protection products are also going to submit proposals. Those proposals, I'm assuming, will consist of how their insurance products can solve a variety of problems facing the prospects in the market that are looking to:  pass on an estate, transition their business, protect assets, avoid unnecessary taxes and avoid the risk of losing buying power to inflation. These will be very solid presentations…but they will focus on the wrong stuff.

You see, the problem at this conference isn’t a lack of understanding of how and why insurance and protection products are important to their clients.  The problem isn’t a product knowledge problem.  And I would suggest to you that when you evaluate your sales team and your sales team’s results, you would probably rarely arrive at the conclusion that your people fail to sell because they lack technical expertise or that the technical expertise needed isn’t available.

What you would find out is that one of the two factors below is the significant contributor to lack of results:

  1. Lack of effort
  2. Lack of execution

Lack of effort is a recruiting and performance management issue that needs to be addressed by training and coaching your management team rather than training your salespeople to “do more”.  Lack of execution has a number of deep-rooted causes that keep salespeople from asking quality questions, getting to decision makers, and uncovering motivation to change or take action.  Salespeople have been taught the techniques and the language, but they still fail to execute.  Why?  Consider the following root causes for failure to execute:

  1. Lack of desire to commitment to success in selling
  2. Failure to take responsibility for outcomes
  3. Unsupportive belief system about certain aspects of selling
  4. Fear of rejection
  5. Difficulty recovering from rejection
  6. Too trusting of prospects

These are just a few samples areas that can be remediated by training and coaching the right stuff.

Lets talk about the right way

When we started our business over 20 years ago, the primary technology for delivery of training was face-to-face instructor-led training.  A lot has changed since then and now there are many options for distance learning.  BUT WAIT – distance learning has been around since the 15th century… in the form of books!

Distance learning isn’t new.  It’s been redefined by technology, but there have been hundreds of thousands of sales eople trained and coached by reading books and listening to audio materials.  What made those technologies work are the same things that make distance learning work today – the ability to learn and study when it works for the learner.

I have listened to hundreds of hours of David Sandler, Tony Robbins, Mark Victor Hansen, Og Mandino, Zig Ziglar and countless others.  I have bookshelves full of books that I’ve read at 5:30am on airplanes on the way somewhere and late at night in hotel rooms.  The unavoidable truth is your training and development program must be delivered the right way.

  • Get the technical information delivered via written, audio or video form,
  • Use live webcast for discussion principles, tactics and ideas
  • Use live – interactive – preferably face-to-face – instructor led training (from someone that has already been where you want your people to go) for the soft skill development needed via drill for skill, role play and strategy development.

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The current state of building and developing an effective and consistent sales team is as tough as it has ever been for many reasons, including the difficulty recruiting talent and keeping up with changes in the buyer’s buying process.  However, the mobility of people and the availability of information via technology allows for training/learning anywhere at any time.

Make sure, when looking to deal with the variability of performance, you are dealing with:

The right people, doing the right things, the right way!

Additional Resources:

FREE HIRING WEBINAR - You can't afford to miss this one! Do you need to know how to find, recruit and onboard the best possible salespeople? If you answered yes, then join us at 12pm ET on Sept 22 for the Hire Bankers Who Can Sell webinar. Reserve your spot now! --> REGISTER HERE

 

The Solutions to Variability of Performance in Sales Teams, pt.1

Tags: sales management, managing sales teams, factors affecting sales results, variability in sales performance, how to improve sales results

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I have a question for you: Why does variability exist? 

Let’s check in with an article by the American Psychological Association written in 1982: *Locke, Shaw, Saari, and Latham (1981) concluded that the relationship between goal setting and performance is reliable, persistent and strong.  Specific, difficult goals led to higher performance than did nonspecific, “do your best” goals in 90% of the studies they reviewed in which the goals could be assumed to have been accepted by the subjects.  However, the strength of the relationship varies considerably from study to study.  Despite care considerations, large amount of performance variability is unexplained by goal condition.  Three potentially important contributors to performance variability are:

  • Situational Factors
  • Task Characteristics
  • Individual Differences

In the world of selling, certainly there are situational factors that change from prospect to prospect, client to client.  But, generally speaking, if you have a tight niche/market that you are attempting to capture, you can identify, plan and train for the variability in situations.

Task characteristics should only be variable if you have failed to implement a mapped, objective, centric-measured sales process.  This is the “engineering” aspect of developing a sales managed organization. This helps minimize variability in task characteristics.

The BIGGEST and probably most difficult variable is the difference in individuals. The uniqueness of each fingerprint is expressive of the uniqueness of each individual you hire when recruiting for a sales team built for growth. HOWEVER, there is science available to help you identify the variables that are consistent among your top performers as well as your bottom performers.  By using that science and implementing a consistent system (engineered) of attracting, qualifying, interviewing and onboarding, you can improve the probability of success and minimize bad hires.

But, none of this matters unless you have an answer to the question: “Why eliminate variability of performance?”  I cannot possibly answer that question for you. However, along with acknowledging the real costs of recruiting, training and paying those that fail to perform, I can list some additional possible reasons why you might want to eliminate variability of performance:

  • The HR cost of managing PIP
  • Additional oversight required by management to manage underperformers
  • Use of training time and money with zero impact on results
  • Perception in the marketplace about your company – churn and burn
  • Strain on other members of the team
  • Impact of poor work ethic on those that perform and expected
  • Interpretation by others on the team that “it is okay to not hit the goal”
  • Unknown cost of lost opportunities
  • The real economic difference between expected sales and realized sales
  • Drain on the executive committee members discussion about the continuation of employment by those not performing

If your company is experiencing any of these items, then eliminating or minimizing the variability of performance must become a front burner issue.

What I believe I understand about building a sales team for success is that there has never been a discussion between a hiring manager and an executive that signs off on the approval of a hire where the hiring manager and the executive have a discussion like this:

Manager – “I think we should hire Joe Smith.”
Executive – “I agree because I believe Joe is going to be the most unbelievable average producer we’ve ever hired.”

I don’t believe that conversation ever takes place, but somehow there are people in the sales team who are occupying the middle standard deviations space defined as “the average producer”.  But, you didn't hire them with that intent, so how did they get there?

The issues around hiring, motivation, coaching, training, and management of talent are what I will be presenting in this series and I hope you will participate and join me in a lively and candid discussion.

Additional Resources:

FREE HIRING WEBINAR - You can't afford to miss this one. Do you need to know how to find, recruit and onboard the best possible salespeople? If you answered yes, then join us at 12pm ET on Sept 22 for the Hire Bankers Who Can Sell webinar. Reserve your spot now! --> REGISTER HERE

18 Years, Waking Up & Toby Keith

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18 years ago this morning... I didn't wake up. 

I didn't wake up... because I never went to sleep. 

I didn't go to sleep... because my wife and I were up all night with our son, Anthony, at Cincinnati's Children's Hospital. Our son had suffered a cardiac arrest and subsequent traumatic anoxic brain injury.

This morning, I woke up... thinking about how, 18 years after the event, Anthony celebrated the event by singing with Toby Keith at Riverbend.

Toby was so gracious and engaging and Anthony loved every minute singing every word to Toby's song, "I Love This Bar." They brought the house down!

How did we do it? How does Anthony do it?

One day at a time.

 

 

What We Get a Chance to Do

Tags: time management, performance management, have to versus get to, to do list

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My wife and I just came back from Minong, Wisconsin where we visited with our friends, Barb and Gerald O’Dell.  Gerald, Barb and I go back a long way, over 30 years. We all met and worked together at Iowa State University.  We parted ways for awhile until Gerald became the athletic director at the University of Cincinnati.  Later, Gerald, a man of great integrity, decided it was time to leave UC and leave athletics for good. That was over 20 years ago.

After a day of catching up and retelling old stories (Linda, of course, heard many of the stories for the first time), we settled into a routine talking about our current lives.  In one of those conversations Gerald shared with me a practice management approach to his “to do” list.  Gerald told me that, a while ago, he consciously changed his thinking from, “Things I have to do” to “Things I get to do”.

Wow.

If you think about it, there is a huge difference between what I have to do and what I get to do.

  • I have to pay taxes.
    I get to go on vacation.
  • I have to take out the trash.
    I get to eat great meals and live in a cool home.
  • I have to go to work.
    I get to help people fulfill their potential.

The other night, I set the alarm on my iPhone.  If you’ve done this, you know that you have a chance to set the time, a chance to select a sound (the song I wake up to is “Isle of Hope, Isle of Tears” sung by the Irish Tenors – a must hear) and, if you can, an opportunity to title the alarm.  Until then, I had simply titled that alarm, “Wake up.”  It now reads, “What I get to do tomorrow.”

What’s interesting to me, though it might be boring as heck to you, is that when I see the title in the evening, it sets the tone for my night’s rest as well as the entire next day.  Instead of thinking and stressing over what I have to do, I have a smile on my face thinking about the things I get to do.

  • I get to talk to people and find out about their business.
  • I get to work with people in my company that are dedicated to our mission.
  • I get to coach sales managers and observe them improve as their skills change and confidence grows.
  • I get to talk to executives about business solutions for finding sales talent and growing sales.
  • I get to convert really cool ideas into client-focused solutions.

I’m not generally one to put forth challenges in these articles, but today I’m making an exception.  I challenge you to think differently about what you do and what your role is.  I challenge you to take some time to write down the things you have been thinking of as “have” to do.  Then, take the time to translate the “I have to” list to an “I get to” list.

But, don’t just do this as an exercise.  Invest in the process and let yourself get excited about all the things you get to do both professionally and personally.

What to Trust When Evaluating Sales Performance and Talent

Tags: managing sales teams, sales assessments, evaluating salespeople, assessing sales talent

When evaluating sales performance - past, present and future - it’s difficult to figure out what information or data to trust when making decisions.  Just like investments where past performance is not a guarantee of future results, past sales performance does not guarantee anything for the future.  It gives you some, not all, insight into sales results, but it doesn’t tell you how the result was created.

Pipeline analysis (a great performance management tool) is a lagging indicator that can be used to uncover previous sales activity and give you some indication of future sales, but there are problems with that data point:

  • The sales person might be putting in data just to keep you off their back
  • Unless your pipeline is mapped properly with check points,
    then the probability of opportunities is subjective, not certain.
  • If the CRM being used does not provide reporting on conversion ratios from one sales step to the next, you certainly don’t have information needed for intentional coaching.

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Linda and I went to a “box store” to find appliances for a townhouse we had purchased.  We needed to replace all four major kitchen pieces: dishwasher, refrigerator, range/oven and microwave. We were working with a salesman and we were getting close to making a selection between models.  As Linda and the salesman were talking, Linda asked me to search for the ratings on the appliances.  This is what I found:

  • Refrigerator/freezer – 4.3 – 1,200 ratings
  • Range/oven – 4.2 – 2,000 ratings
  • Dishwasher – 3.2 – 1,600 ratings

I hadn’t looked up the rating yet when Linda asked me what I found out.  I reported the 4.3 and the 4.2; however, as I reported the 3.2 on the dishwasher, the salesman stepped back into the conversation and asked what the 3.2 was.  I told him it was the rating on the dishwasher based on 1,600 customer ratings.  His response was “You cannot rely on those ratings.  Those ratings are based on this model two years ago when it first came out – this is a newer version of the model.”

It was so hard for me to not reply with, “So I should trust the 4.3 and the 4.2, but not the 3.2?”  I didn’t want to go there because I know how I get when I challenge someone trying to sell me something. I'm a pain in the *ss.  I cannot help it when a salesman screws up the opportunity to handle something the right way and fails.  But, that’s not my point here.  My point here in this story for this article is this:

Your salesperson, and any sales candidate you are interviewing, will also refute anything negative you ask about, but will never debate the positives.

And that is a problem if you are not aware of that and deal with it when it happens.  Case in point.  We use Objective Management Group for evaluating both sales teams that exists today and future talent to hire.  The tool has been “tested” hundreds of thousands of times and is the most consistent and reliable sales talent evaluation on the planet.  (check it out)

With this business tool, we find a mix of things that are supportive of successful selling:  Strong desire, commitment, responsibility, and sales DNA.  And there are findings that indicate hindrances to successful selling:  lack of skills in consultative selling, asking questions, hunting, closing, and qualifying skills.

Time and time again, when we review the results with the sales manager or the sales person and we ask, “What did you think?”, most of the time we can count on the following:

  • I thought it was interesting.
  • I’ve taken lots of these in the past and you just have to take the results with a grain of salt.
  • I thought it was dead on.
  • I thought the findings really depend on different situations; some of the questions didn’t fit the way I sell.
  • There were a lot of things I agree with and a couple of things I didn’t understand or agree with.

We ask the sales person to then discuss the finding they want to talk about first.  Almost 100% of the time, they will want to talk about the things they disagree with. Obviously, those are the things that are viewed as “negative”.  Never, not once ever in over 20 years, has someone gone to desire, commitment, responsibility, hunting or closing findings that are positive and said,  “I don’t agree with this.  I’m really not committed, I don't have desire for success in sales, I make excuses when I fail, I suck at prospecting and I can’t even close a door.”

NOT EVER!

What they all want to focus on is the 3.2 rating to try and convince me that the negative findings cannot be true, BUT all those positive things, “Yep, that’s me.”

So, there you go.  Your salespeople, as well as the candidates, will do their best to convince you that all the positive data and outputs are accurate and true, but anything negative can be explained away.

Buyer beware!

Additional Resources:

Sales Management When "Life Happens" - Failure is NOT an Option

Tags: sales management, radioactive plaque surgery, life happens, cancer

A year ago tomorrow, I was released from University Hospital here in Cincinnati.  Doctors Augsburger and Correa had performed radioactive plaque surgery on my right eye.  The plaque stayed attached to my right eye for 5 days with a lead eye patch covering it.  I was confined to a lead lined room.  On the 25th, they removed the plaque (disc),  sutured the eye and then sent me home for recovery. I was back to work the following Monday.

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I share this story in an attempt to relate “life happens” to sales management.

Life happens in sales and sales management.  When attempting to manage a sales team, “life happens”.

  • The economy tanks
  • A top producer leaves
  • A new producer that you thought would set the world on fire is going on a PIP
  • The company has changed its product mix, offerings or pricing
  • A new competitor has come to town
  • A new compensation plan is being implemented
  • A new CRM tool is being implemented
  • The Department of Labor passes new regs, changing the sales landscape for an entire industry 

Despite all the changes and all the “life happens” events that come your way as a sales manager, you are left with one ultimate objective – meet/exceed the sales targets established by the company.  Despite all the obstacles and challenges, at the end of the day, someone in the company is going to look to you and want to know if your team is going to hit the sales goal.

A month after my departure from University Hospital, I met with an oncologist.  Prior to the meeting, I had a blood test completed and a CT scan.  Both tests are designed to look for cancer cells possibly lurking somewhere in my body.  I am to continue this testing every 6 months for the next three years.  I will see my ophthalmologist once every 6 months.  At the end of each time period, all that matters is this – did I go another six months and stay cancer free?

So, what do you do to get from diagnosis – life event, business event, etc. – to whatever happens next?  Answer: You do everything possible to improve the odds for success. That is what you do.

I have another doctor.  Dr. Peter Shang practices eastern medicine and is a former practicing oncologist.  When I visited with him the first time, he told me one really important thing:  Cancer hates a healthy body.  He told me that we needed to find out how healthy my blood was and make it healthier so that it could effectively fight any cancer cells.  He also told me that cancer loves sugar.  And he told me that regardless of how healthy I thought I was, I needed to get healthier.  Exercising 5 days a week for a minimum of 30 minutes a day.

Here are steps that are similar in personal health related problems and business problems:

  • Pay attention to the symptoms
  • Get a diagnosis to identify the root cause
  • Analyze the root cause and identify solutions
  • Determine if the outcome for doing nothing is acceptable
  • If doing nothing is un-acceptable, take action
  • Check your commitment to stick to the plan – you must have a non-negotiable reason to stick to it

I just had my second of my six-month checkups for eye, blood and body scan.  All good.  Also, I’ve continued to work, play tennis and golf.  I monitor my steps, my workouts, and my food intake.  I’d like to report that I’m completely off of all sugar,  but I have my lapses.  I was in a great habit of not eating sugar and then, when I hit a body weight target, I allowed myself to celebrate with my greatest food weakness – ice cream.  (If  you see me and we are dining, don’t let me eat dessert!)

I work out consistently, and I am healthier now than I’ve been in at least 30 years.  Every time I work out, I talk to cancer.  I tell it that it had better be ready for a fight because that’s what it’s in for.  I work out and think about others who are fighting the fight.  Doug, Ray, Cherie, Brooke and Jerry all are fighting the fight for health.  But… the major motivation is my wife, Linda. She is my non-negotiable reason to stay the course and fight the fight.

In business, you have to have that non-negotiable reason to fight the fight, to overcome the obstacles, challenges, and setbacks.  You are not always going to win the battle every second, every minute, or every hour.  But, win the battle every day. Then your days become weeks and the weeks become months and the months become the first year.

In the words of flight director of Apollo 13, “Failure is not an option!”

How to Grow Sales: The Never Ending Question Just Found ANSWERS!

Tags: sales evaluation, OMG, managing sales teams, evaluating sales teams

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Growing sales depends on the ability to know the answers to the right questions.  Often companies make a decision to invest in their people in order to improve performance.  Sometimes the investment pays off: other times, not so much.

When it pays off, it normally is a combination of the right things coming together at the right time:

  • Leadership that thinks sales skill improvement is important to improve sales
  • Sales management that really knows how to manager performance
  • Sales management that understands that coaching is the job
  • Recruiting that works to make sure the right criteria are being used to hire superstar sales people and doesn't settle for less
  • Marketing programs that increase visibility, strengthen the brand and generate interest in the product.
  • An economy built for growth
  • A no-excuses environment
  • Metrics for success that matter
  • Systems and processes that support effective selling
  • Salespeople that are motivated and committed
  • Salespeople that have the right skills to sell to the market the company is attempting sell to
  • Etc., etc., etc.

But… what do you do if sales growth isn’t happening as expected or needed?  Where do you start? 

  • New management
  • New leadership
  • New salespeople
  • New CRM and other sales enablement tools
  • New marketing strategy

And therein is the problem; most companies don't have the answer to the question(s) of…

  • How do we grow sales?
  • Where do we start?

At our company, Anthony Cole Training Group, we have partnered with the #1 sales team assessment company in the world – Objective Management Group.  With this partnership, we answer four critical questions for our clients:

  • Can we be more effective?
  • How much more effective can we be?
  • What will it take to accomplish that?
  • How long will it take to accomplish that?

To answer those four critical questions, our prospective clients work with us in an initial interview to get a “lay of the land”.  We spend time asking questions to find out what work isn’t getting done.  We listen to understand and we uncover the symptoms of the problems.   We discuss the impact on the business and the solutions attempted in the past.  What we know about every company is that they are perfectly designed for the results they are getting today and will get tomorrow.  If those results are not acceptable, then we go to work.

We go to work with them by providing them a series of questions that have to be answered by senior executives, sales leaders and, ultimately, the salespeople.  This thorough process results in a report that answers the 4 questions we’ve already discussed.  The answers to these 19 questions ultimately answer the BIG question – How do we grow sales?

If you’ve been looking for the answer(s) to that question, keep reading and let us know how we could possibly help you or find you the help you need.

  1. How Does Sales Leadership Impact Our Sales Force?
  2. What Are Our Current Sales Capabilities?
  3. How Motivated Are Our Salespeople and How Are They Motivated?
  4. Can We Generate More New Business?
  5. Can We Be Better at Reaching Actual Decision Makers?
  6. Can We Shorten Our Sales Cycle?
  7. Can We Sell More Consultatively?
  8. Are We Selling on Price and Who Can Become a Value Seller?
  9. Is Our Value Proposition Consistent?
  10. Can We Close More Sales?
  11. Do Our Systems and Processes Support a High Performance Sales Organization?
  12. Can We Be More Consistent with Our Sales Process?
  13. How Well Are Our Sales Leadership Strategies Aligned?
  14. Do We Need to Change Our Selection Criteria?
  15. Can We Improve Ramp-Up?
  16. Can We Improve Our Pipeline and Forecasting Accuracy?
  17. Can We Improve Our Sales Culture?
  18. Who Can Become More Effective in Their Roles?
  19. What Are the Short-Term Priorities for Accelerated Growth?

Contact Tony Cole Directly:  513-226-3913 (call or text).  If text, use subject line: “I need answers!” along with your name. Or email: tony@anthonycoletraining.com

Additional Resources:

 

What the Numbers Tell Us about Salesperson Readiness

Tags: managing salespeople, building effective sales teams, salesperson readiness, DoL regulations

We recently delivered a webinar specifically for one of our clients – BISA (Bank Insurance and Securities Association).  The topic was The Customer-First Advisor: How to Help Your Salespeople Survive and Sell in the Coming DOL Environment – regarding the recent Department of Labor ruling outlining the fiduciary responsibilities of financial advisors giving advice to prospects or clients. (Click here to listen to recording.)

NOTE:  This post doesn't just apply to investment advisor salespeople.  Salespeople in all industries continue to face changes in economic, competitive and company climates.  As a sales leader, it is important to recognize that those salespeople that got you where you are today probably won’t be the same ones that will get you through the other side of change unless you get them ready.

Up until this year, advisors had to satisfy a “suitability” standard when providing advice.  The problem is that sometimes “suitability” also was conflicted advice. It was “conflicted” apparently because some of the products that were “suitable” were also the ones that paid the advisors the most commission.  I have strong feelings about this and why the DoL would stick its nose in this… but that discussion is for another day and time!

As a result, one of the issues at hand is how advisors actually conduct themselves now that there are new regs in place.  During our webinar (click here to listen to recording),we asked a couple of poll questions.  Here are those questions and responses:

Survey-responses.png

What does this tell us – you?

  • Skills to be successful – If you look at your sales results in a 80/20 power curve, you always see that about 36% of your team represents close to 90% of the sales results. What does that tell you about the rest of the team?  Answer: They either fail in effort or execution of the process, or they lack skills.  Question: Did you hire them that way or make them that way?
  • Pipeline – The question applies to anyone selling anything but ESPECIALLY if you are selling products and services of higher dollar amounts and selling B2B. Not everyone that fogs a mirror is a prospect.  Yes, people may call you out of the blue, walk into your office and ask to buy. Sell them!  But, day in and day out, your salespeople need to be looking for and talking to Zebras. (click here for book)
  • Depending on how your salespeople go to the market, the first contact has to be compelling. One of our rules is this: “Don’t look, act or sound like a salesperson.”  If your people open up with how good the company is, great pricing and unbelievable service, then they are bringing nothing to the conversation that is compelling.  REMEMBER THIS from Verne Harnish in Scaling UP – People are distracted.  Prospects have lots of other people looking to take their time.  You must have a compelling message in order to get people to keep listening.
  • Tracking is the name of the game when it comes to performance management. Lots of companies talk about performance management, but normally all that means is that there is an arbitrary line that someone has to cross before they go on a PIP – Performance Improvement Program.  By then, it’s normally too late. The key to performance management is to have systems and processes in place so that you can “catch them early”.

What does this mean?  It means the following:

  • Regardless of the levels of success in your organization, you should constantly invest in your people so that they continue to improve important skills and learn new ones.
  • Make sure that your salespeople clearly understand the ideal client in your organization and make sure that you have a process to “inspect what you expect” in terms of what segment of the market you are capturing.
  • Review your go-to-market messaging and ask yourself – “Does this really differentiate us from the market or are we trying to sell the same message everyone else is?”
  • Identify your sales steps. Have a process in place to calculate exactly how many of each step each salesperson has to execute in order to succeed.  Make sure that you have assumptions about the conversion ratios from one step to the next step.  These ratios will vary from person to person. Collect actual performance results.  Compare actual activity and effectiveness to target activity and effectiveness.

Additional Resources:

Building a Sales Formula for Success – Link to success formula

Tracking – Sample output of data collected