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Tony Cole

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What is the Most Powerful Management Question Ever?

Posted by Tony Cole on Mon, Nov 19, 2018

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While driving into work earlier this year, I heard an incredibly powerful performance question while listening to the Dan LeBetard with Stugatz ESPN radio show. An ardent Michigan State Football beat writer asked this question during the Big 10 media day.

“You came to Ann Arbor with perhaps the most hype of any coach in the history of the Big Ten. Maybe in all of college football. A few years later you’ve got a third place, a third place and fourth place finish. And you’re 1-5 against Michigan State and Ohio State. What do you have to do this year to demonstrate to the Michigan community that you are on the path to achieving what they hired you to achieve?”

I immediately thought about all the sales managers we’ve worked with over the last 25 years and the challenges they faced getting their salespeople to perform as expected. Let me explain for just a minute:

  • New hires are not hired hoping/expecting that they will be average
  • Hiring managers search for, find, interview, screen, and contract new producers thinking/expecting them to be great
  • According to Geoff Smart in his book Topgrading – 75% of new hires are no better and often perform worse then the people the replaced.

In most companies we find that the bottom 40% of producers are responsible for less than 20% of the total sales production (in many cases less than 10% of new business- even when we take out new hires with less than 2 years of service). So the question must be asked– did you hire them this way or make them this way?

So let’s look again at this reporter's brilliant question:

Reporter's Question: “You came to Ann Arbor with perhaps the most hype of any coach in the history of the Big Ten. Maybe in all of college football. A few years later you’ve got a third place, a third place and fourth place finish. And you’re 1-5 against Michigan State and Ohio State. What do you have to do this year to demonstrate to the Michigan community that you are on the path to achieving what they hired you to achieve?”

Your Question: “You came into ABC company with high expectations and a strong track record of success that we thought you would continue here. Here we are two years later and in our stack ranking for new business you have finished 9th and 10th. And your pipeline is consistently 66% of what it is supposed to be and your average size sales is $10,000 instead of the anticipated $15,000. What do you have to do over the next 120 days to demonstrate to yourself and to the company that you are on the path to achieving what we hired you to achieve?”

This is the question you should be asking your non-performing people NOW!

This question should have been asked of an under performer within 6 months of the end of the expected ramp-up period. In other words, if your ramp-up period is 18 months and Jamie is at 12 months and not projecting to meet and exceed expected performance, this conversation needs to take place.

Be brave, ask the tough questions about performance, improve your coaching and get better results.

If you liked this article, please share it with friends, family and colleagues below!

Topics: managing sales people, Sales Effort, sales management responsibility, successful sales teams, sales advice

What Makes a Sales 'Hall of Famer'?

Posted by Tony Cole on Thu, Nov 15, 2018

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Assuming for a second that when you think about hiring for a position in your organization, you are thinking about hiring the best, especially in the early rounds of looking for talent. No one reasonably goes about writing a job description like this:

“ABLE Sales Company is looking for the most unbelievably average salespeople we can find. We already have enough top producers and those that are failing. What we really need are some people to bump up the middle of our bell curve. If interested, show up and you’ll get a job.”

No, you are not looking for average- you are looking for people who can get your organization to the next level. You’re looking for the best of the best.

Which leads me to today’s story: I was listening to ESPN radio and tuned into The Golic and Wingo Show. They were sharing stories about the Baseball Hall of Fame inductees that a reporter had heard from each during his time as a sports reporter.

I would like to share 3 of those stories with you today and how they are great analogies for recruiting the best of the best.

Vladimir Guerrero: Vladimir is a Dominican born in 1975. He arrived to his first professional baseball try-out on a bicycle. He was wearing baseball shoes that didn’t match and one was so big he had to stuff it with socks so that it wouldn’t slip off. He was on the field for 5 minutes hitting, throwing and catching when the scouts told him he was finished. They signed him to a contract and now he’s in the Baseball Hall of Fame. So, how does this relate to recruiting talent?

  • When you got it, you got it
  • Don’t judge a book by its cover

Trevor Hoffman: Trevor was born in Bellflower, California in 1967. When he tried out to play professional baseball, he did so as a shortstop. However, after a few minutes of taking the infield, somebody told him he was terrible as a fielding shortstop and he was a weak hitter. They said if he was going to make it in the pros he might want to try pitching. He did and now he’s a Hall of Famer. What’s the hiring lesson here?

  • When interviewing people don’t be afraid to push a button that might upset them. It’s going to happen in their sales career anyway so you might as well find out how they are going to react. Will they absorb the challenge or get emotional?
  • Every candidate you interview and eventually hire is going to come with some warts. What you want to know is – are they coachable?

Chipper Jones: Chipper was born in 1972 in Deland, Florida and played his entire career with the Atlanta Braves. Chipper was the #1 MLB draft pick in 1990. As the story goes, the Braves were ready to make him an offer but his dad was encouraging Chipper to hold off because he could probably get more money from another team. Chipper told his dad that he wanted to be the #1 draft pick and that the money didn’t matter. He knew that he was going to be successful and that he would earn his ‘big’ money based on his performance rather than what another club thought he was worth today. Again, why is this important when hiring salespeople?

  • You have to be patient. Just because it’s hard to find the right person, doesn’t mean you should hire one that is close. Close enough isn’t good enough (you already have some of those on your team and you don’t need more).
  • Hire people that are willing to bet on themselves. Often recruiting managers, HR, and recruiters shy away from those that don’t exactly fit the pedigree. When interviewing and working the compensation into the hiring contract, be bold enough to challenge the candidate to put some money at risk. If they are as good as they think they are they will make up for it in spades in the long run.

There is nothing easy about hiring. If you listen to the stories of these recent inductees you will find that there was nothing easy about getting into the Hall of Fame.

Need more help hiring the best of the best? Download our free Recruiting Success Formula document and Interview Questions guide to improve your recruiting process today!

 

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Topics: solving sales issues, sales growth and inspiration, things to do for sales success, sales stories, building sales team

7 More Sales Core Competencies

Posted by Tony Cole on Mon, Nov 12, 2018

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In 2008, I posted two blogs covering 14 of the 21 core competencies identified by the Objective Management Group Sales Person Assessment.  Between then and now, much has taken place that I've written about, and as I fly from Atlanta to Portland, Oregon, I have some time to write about the remaining 7 core competencies.  I know that you've been waiting with baited breath.

1.  Establishes early bonding and rapport:  The ability to quickly establish confidence and trust in the first meeting, rather than taking several meetings to develop a strong relationship.

2.  Uncovers actual budgets:  The skill and the consistency in knowing what the investment parameters are going to be so that you eliminate money, time or resource objections at time of presentation.

3.  Discovers why prospects will buy:  As elementary as this sounds, most sales people do not find out exactly "why" a prospect will buy. They know what is important, they have an idea of what a prospect will consider or look at, but that is entirely different than knowing exactly why someone will buy.  You know that you have this competency when you get decisions instead of "think it overs".

4.  Qualifies proposals and quotes.  Those that have this competency and execute it consistently will make sure that they will get a decision or, at a minimum, a very clear future once they present.  Those with this competency only make proposals and quotes when they know that the prospect is committed to buying.

5.  Gets commitments and decisions:  This competency manifests itself prior to making presentations.  It needs to happen once you have uncovered the compelling reasons someone will buy, you have their commitment to buy, you know the budget issues and you know that you are talking to the decision maker(s).  Once these items have been covered, a great sales person simply asks the prospect to make a decision, yes or no, when the presentation is completed.  More importantly, they make the commitment to decide stick.

6.  Possesses a strong desire for success in selling:  this is defined as being passionate about your success.  It is someone that enjoys selling.  Someone with the appropriate desire is someone that looks forward to generating new relationships and is passionate about pursuing and achieving their goals and the goals of the company.  They don't just set goals; they achieve them.

7.  Commits to succeed in selling:  I have identified three types of commitment:  1) WIT: Whatever it Takes.  2) WITALAIITU:  Whatever it Takes as Long as it Isn't Too Uncomfortable.  3) Coast to Coast: When they are just going through the motions and coast from the beginning of the day to the end of the day.  However, there is only one level of commitment that contributes to extraordinary success:  WIT.

Think about these 7 core competencies and how they relate to your ability to execute an effective sales process.  These 7, along with the other 14, should be considered the "root causes" of your sales issues.  If you are to continue your improvement in sales, then you might consider working at the correct end of your problems:  Theses 21 core competencies of selling.

DOWNLOAD our FREE eBOOK -   Why is Selling So #%&@ Hard?

Topics: sales competencies, improve sales, OMG assessment, sales improvement

What’s Your Funniest Sales Story Ever?

Posted by Tony Cole on Mon, Nov 12, 2018

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I'm heading to a sales training session about 12 years ago.  It's a client in downtown Cincinnati and I've been working with them for two years.  They know me as a high energy, enthusiastic and entertaining sales trainer.  In other words, I stand up, I move around, I'm engaged, I role play, we learn a lot and people make more sales.

I'm running late this one particular day, so I grab a chocolate chip bran muffin (These are the best bran muffins made in the world and they are made by my wife, Linda.) and a bottle of Gatorade then off I go.  It is early, about 6:45, and it is dark, mid-January.

As I am driving and eating, I sense that something has fallen from my muffin onto my lap or more accurately under the crotch of my pants.  My best hope is that it is a piece of the bran muffin.  My worst fear is that it is a chocolate chip.

I get to the office early. Thank goodness no one else is there yet, and so I sprint to the men's room only to discover my worst fear.  As I turn around and look at my "disaster khakis" (They are called this because it seems that I always come home wearing some food on them somewhere), there in exactly the right spot on the back of my pants is a notable brown spot that will easily be seen by anyone behind me.

I get to the training room, set up my flip chart with my notes, the white board with further information and then firmly plant myself in the chair at the head of the conference table and I do not move again for the next 3 hours.

Now, I don't know what the participants thought.  Surely they had to find this strange as I never sit down during a session.  Certainly, I was polite as I shook hands with them as they left.  Then and only then did I find a way out of the office with my spot undiscovered by any of my participants. I immediately go home and rid myself of the disaster khakis once and for all.

So, what is YOUR funniest sales story ever?  We know that you have one!  What we're looking for here is a little fun over the next several weeks.  We would love for you to share with all those that view this blog your funniest or most embarrassing sales moment, sales call or selling situation.  After 30 days, we will announce a winner for this years' "Funniest Sales Story".

Come one, come all, let's have some fun.  As a matter of fact, I will call on our CMO, Jeni Wehrmeyer, to share her story.  It may be one of the funniest of all!

 DOWNLOAD our FREE eBOOK -   Why is Selling So #%&@ Hard?

Topics: sales people, sales techniques, training sales, inspirational, sales problems

5 Direct Sales Activities that Lead to Sales Success?

Posted by Tony Cole on Sat, Nov 10, 2018

5 Keys to Sales Success

In my recent newsletter, You Are Tomorrow What You Are Planning For Today, I discussed the importance of planning for sales success.  Even though many salespeople put together "business plans" for their upcoming sales year, often it is nothing more than a financial projection of estimated new business, known lost revenue, estimated lost revenue and current pipeline opportunities.

On rare occasions, there is some information about the marketing activities they are planning on engaging in to help drive news names to the database.  However, in the end,  your sales business plan has to be much more robust than that.  Greg Evershed has an in-depth articles posted about Planning for Success that provides a nice framework about what this plan should look like, smell like and act like.

When I think of a robust plan, I don't mean that it has to be a published book. But, it must contain certain elements if you want to improve your probability of actually achieving your stated goals.

So far, in this series of posts, I've covered:

1.  Start with the end in mind

2.  Establish metrics for sales success

3.  Setting high standards for your sales success

Today, I'll focus on this: Identifying those activities that you MUST execute on a consistent basis to be successful. 

These activities MUST primarily be SALES activities or what I call GREEN activities.  GREEN means GO, which means GO to the BANK.

Green activities would include and pretty much be limited to:

  1. Activities that lead to getting names - networking, speaking engagements, sponsored seminars, meeting with centers of influence and/or asking for introductions
  2. An outreach to assess interest or need
  3. Conversations and meetings to uncover a buyers buying journey
  4. Gathering additional information that when they buyer is ready to select you present a 'winning' solution
  5. Presentation/pitch meetings that lead to decisions

That's it! Those are your green activities that lead directly to generating sales revenue. Everything else you do is in support of these five activities.  If you are like most sales people, you MUST spend somewhere between 25% and 33% of your time in Green Time!  Every minute you don't in Green Time, you are losing money.

DOWNLOAD our FREE eBOOK -   Why is Selling So #%&@ Hard?

Topics: keys to sales success


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    About our Blog

    Anthony Cole Training Group has been working with financial firms for close to 30 years helping them become more effective in their markets and closing their sales opportunity gap.  ACTG has mastered the art of using science-based data and finely honed coaching strategies to help build effective sales teams.  Don’t miss our weekly sales management blog insights from our team of expert contributors.

     

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