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Tony Cole

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How Do I Become an Extraordinary Sales Manager?

Posted by Tony Cole on Thu, Nov 01, 2018

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 Are you doing everything possible to make your salespeople successful?

That is the question you must ask yourself if you are responsible for the management of salespeople.

How do you know if you are an extraordinary sales manager?

An Extraordinary Sales Manager:

  • Sets High Standards and has Strict Accountability Policies that don’t allow for excuses
  • Encourages salespeople to set Personal Goals that are intrinsically motivating
  • Rewards Success and Disciplines Failure
  • Coaches through the use of Smart Numbers and Critical Ratios
  • Holds Regular Sales Huddles and Collects Activity Data
  • Uses Best Practices in Hiring Salespeople
  • Consistently Upgrades Sales Team through Intelligent Assessment-Based Guidance

If you want to take your management to the next level, you must read this guidebook, The Extraordinary Sales Manager. It will give you the tools to Take Your Sales Team from Good to Great.

Click below to Download your FREE copy!

Download Free eBook:  The Extraordinary Sales Manager

Topics: sales management responsibilities, consultative selling, building sales team

The High Cost of Replacing Unsuccessful Salespeople

Posted by Tony Cole on Mon, Aug 20, 2018

Before the Salk Vaccine:

“Until 1955, when the Salk vaccine was introduced, Polio was considered one of the most frightening public health problems in the world. In the postwar United States, annual epidemics were increasingly devastating. The 1952 U.S. epidemic was the worst outbreak in the nation's history. Of nearly 58,000 cases reported that year, 3,145 people died and 21,269 were left with mild to disabling paralysis, with most of its victims being children. The "public reaction was to a plague", said historian William L. O'Neill. "Citizens of urban areas were to be terrified every summer when this frightful visitor returned." According to a 2009 PBS documentary, "Apart from the atomic bomb, America's greatest fear was Polio.”

Before the Objective Management Pre-hire assessment:

In the late 1980s, David Kurlan founded the Objective Management Group (OMG). The primary focus of his company was to help sales organizations uncover the root causes for the sales opportunity gap – that variance between how a sales team is performing and how it should be performing. Kurlan’s main objective is to answer the question “will they sell?” That's the essential question every sales interview is geared to answer. So why do we so often end up with salespeople that can't or won't sell despite our best efforts and intentions? 

hiring chart

I'm not trying to compare Polio to hiring salespeople-- just trying to make a point that something dramatic had to happen (a significant change in preventative medicine) to eliminate ‘America’s greatest fear’. Hiring the wrong salespeople is happening today constantly and it’s crippling. Bad hires have an impact on:

  • Top line revenue
  • Profitability
  • Effectiveness of Sales Managers
  • Culture
  • Productivity of the rest of the sales team
  • Wasted time money and effort on training and development

Several years ago I met with a group of financial advisory managers. As part of our meeting we used the Hiring Mistake Calculator to help them determine their specific cost of bad hires. When we finished, I asked the president of the advisory program what number he came up and he said $2,000,000 a year. Based on best estimates, a bad sales hire is a $100,000 to a $1,000,000 mistake. If you are a hiring manager, an HR director with a recruiting team or a president of a company, this 2-comma problem should cause you to realize that a dramatic change is needed.

Everything that the hiring manager and supporting HR team does when attracting, vetting, assessing and selecting salespeople should be focused on ONE thing! Will they sell? Not: Can they sell? Do they know banking? How well do they understand coverage’s and employee benefits? Can they conduct a financial plan? 

Over the years I’ve asked sales managers and presidents this question: How many people that are no longer with you are gone because they didn’t understand insurance, banking or investment advisory. The answer for 25 years has been; Zero! Not a single person was fired or left because they didn’t know the how to of the business. Bad hires are bad hires for 1 primary reason – they can’t or won’t sell. Yes, you will sometimes have cultural, compliance or HR issues but 90% of the time people are exited because they did not perform the basic fundamentals required to be successful in selling.

Click on the links below to learn more about the Objective Management Group assessments and how having a strong recruiting process will help eliminate hiring mistakes!

The OMG Assessment

Eliminate Hiring Mistakes for Outside Salespeople

What Does Your Best Sales Person Look Like

Understanding the Make-Up of Your Current Sales Team

Hire Better Salespeople Recruiting

How to Hire Bankers Who Will Sell

Why is Selling so #%&@ Hard

Topics: OMG assessment, assessing sales talent, #1 sales assessment

11 Sales Lessons – What I learned During My Summer Vacations (Part 2)

Posted by Tony Cole on Fri, Aug 03, 2018

As I mentioned in my previous article, I’ve had two vacations this summer. One trip was to Canada for fishing and another to Falmouth, Massachusetts to relax and visit our niece and her family. While there we relaxed, had some great meals, walked all over Falmouth, visited with a client, and ate lots of ice cream. All the while, I continued to be amazed by the sales lessons I learned during our daily adventures.

Here are the 6 sales lessons I learned while visiting the Cape.

#1: Small sales can be very rewarding as you watch them grow

Linda’s niece Laura and her husband Sebastian have an infant boy: Javier Miguel Fuentes. He is 9 months old and a delight. We met him when he was a month old and now he is crawling. It was a blast to spend time with him and see how he continues to develop and grow. Yes, there is lots of pressure to make ‘big sales’ but you can choose smaller ones when you believe the growth will be worth all the effort.

#2: Little things do matter and make a difference

While dinning at Anejo Mexican Bistro, not only was the food delicious but the staff was exceptional and paid attention to the little details. It made our visit and experience exceptional and Anejo become our ‘go to’ place to eat during the trip.

theknob

#3: If you want the right kind of clients, you have to be where they are

The picture here is of ‘The Knob’. The Knob is a piece of land donated to the Audobon Society by Miss Cornelia Carey in 1973. To get there, you have to go to Woods Hole, find the little out-of-the-way road to Buzzards Bay. You may have to park ½ mile away and walk to get to the Knob. But if you want to see the beautiful sunsets from the Knob, you have to go to the Knob. It won’t come to you.

#4: Take risks

We are creatures of habit. We go to restaurants and order our favorites, our standbys, because we know what we like. I ordered a mahi mahi fish sandwich with aioli sauce and a slice of pineapple on a brioche bun. Those who know me know this isn’t my go to meal. It was great. So great that when we got home that was the first meal I prepared for our Sunday family dinner. We spend a lot of time in training sessions with ‘seasoned’ salespeople who have been doing what they’ve been doing for decades. Some of these people fear taking the risk of trying something new. What is interesting to me is that those that are most successful are those that always take the risk of trying something new.

#5: When on vacation, you can eat ice cream anytime

Linda and I managed to find lots of places to eat soft serve ice cream. Normally it didn’t matter what time of the day it was. When we found ice cream we would stop, consider and buy. In your sales day, there is never a bad time to prospect. Anytime you spend prospecting – just one call between other ‘things you have to do’ is time well spent. Anyone you meet might be someone that needs to hear your story. Don’t convince yourself that prospecting is something you just do on Thursday. That prospect you are looking to connect with on Thursday may not be there.

#6: You really can’t do it alone.

Salespeople have huge egos and believe that ‘they’ are the center of the sales universe. Sorry, it doesn’t work that way. We have a client in NYC that has an extraordinary sales support structure. Without it much, if not all, of the recurring revenue wouldn’t happen. The ‘expertise’ of their product specialist is exceptional. Yes, the producers hunt and develop relationships and that is no doubt a BIG part of the job. But the rest of the team fulfills the promise and is always there to pick up the pieces when something goes wrong. It took a number of people to pull off the wonderful trips I’ve had this summer. Special thanks to our family: Jeni, Steven, Alex, Ireland and Mike for taking care of things at home and watching over Anthony. Thanks to our people at Anthony Cole Training Group for taking care of business and my clients while we were away. The guys I fished with have been doing this trip for 30 years. Without Gerald, Bob and Barry and their expertise there is no way the trip would have been as extraordinary.

So there you go, vacation sales tips from Canada and Cape Cod. Enjoy the rest of your summer. Send a picture of your summer vacation to tony@anthonycoletraining.com and you will receive a free, 30-minute pre-call strategy session with me to discuss a sales meeting you have coming up or a post-call debrief for a prospect meeting you already had.

Topics: sales lessons, successful selling

11 Sales Lessons: What I Learned During My Summer Vacations (Part 1)

Posted by Tony Cole on Tue, Jul 31, 2018

In June, I went on a 7-day fishing trip to Lake McCrae Ontario, Canada with 3 friends of mine. 2 weeks later, Linda and I spent 5 days in Falmouth, Massachusetts and 2 days in Boston.

My vacations have provided some insights that correlate very well to what it takes to be successful in selling. To make this a little easier to digest I will take the 11 Lessons from my summer vacations and break them down into two articles.

The 5 Sales Lessons from My Canada Fishing Trip

#1: Anticipate an unexpected turn of events and prepare to respond

Lake McCrea is very remote. There is no cell or phone service. Last year was my first trip there and I was concerned that if something happened or if something happened at home there wouldn’t be a way to get help or leave if I had to. To prepare, I rented a satellite phone.

#2: If you change how you view things, you will see something different

Gerald was pointing out to me the structure of the rocks below the surface of the water. The sun was shining, the water was crystal clear and I could see in detail what I needed to see in order to be more successful at casting in the right areas. I immediately thought of salespeople and their relationships with prospects. I thought “if salespeople would just change how they view selling, they would see better what it would take to convert a prospect into an opportunity and perhaps a client. But many salespeople have a myopic view and look at all prospects the same and thus treat them all the same. Example: If the view is ‘prospects want to save money’ then the sales person will approach all sales the same way.

Dad and fish

#3: You can’t force big sales to happen

I managed to hook 3 monster Northern Pikes. The first was 40 inches long and at least 15 pounds. I was fishing with gear suited for fish that might have been 3 pounds. Not wanting to risk losing the monster fish, I set my drag and took my time. This catch took 50 minutes to boat.

#4: Learn from mistakes and successes

Two days later, I hooked another fish about the same size but learning from the first big catch I managed to bring this one in the boat in 25 minutes. A day later, I caught the granddaddy –a 48” Northern. I managed to get that one in the boat in 20 minutes.

#5: Create more opportunities – make more sales

My fishing partners have been making this trip for over 2 decades. They are really experienced and rarely get their fishing jigs caught in the rocks hidden beneath the water. I, on the other hand, had some trouble in this area and so I spent more time re-tying jigs and lures then they did. Subsequently they threw more cast and caught more fish.

So there you go, my sales tips from my 10-day vacation in Canada. Be on the lookout for part 2! Send a picture of your summer vacation to tony@anthonycoletraining.com and you will receive a free, 30-minute pre-call strategy session with me to discuss a sales meeting you have coming up or a post-call debrief for a prospect meeting you already had.

Topics: sales lessons, successful selling

How Committed To Success In SELLING Are Your Sales People?

Posted by Tony Cole on Mon, Jul 02, 2018

In 1975, I was Junior offensive lineman at UConn. On the team that year were a group of seniors that knew that their playing days were pretty much over. Younger players had been recruited and they were starting ahead of them. Those seniors formed a bit of a club – the Coast-to-Coast Club

The thinking was this: “We are not going to see any action on game day but I have to keep playing to keep my scholarship though I don’t want to get a serious injury just practicing. So, I will coast from the beginning of practice to the end of practice."

coast-to-coast

Years later when I was developing our content for our Sales Managed Environment ® Certification Program, I included a segment on commitment. In this article, Dave Kurlan discusses the difference between motivation and commitment. It is a crucial difference. You can do some things to help people become motivated but when it comes to commitment, a sales manager can’t teach it, or coach it. Commitment to success in selling is something the sales person must bring to your organization. You can demonstrate it, explain it and expect it but you cannot make someone more committed to success than they want to be.

Over the years I’ve discovered there are three levels of commitment. 

The first one is Coast-to-Coast commitment. These are the people that really do coast from the beginning of the day, week, month and year to the end of the time period. They show up and look busy but at the end of the day they didn’t break a sweat, didn’t do any harm, didn’t call anyone of significance and certainly didn’t move the sales needle. In other words, they’ve retired and just haven’t told anyone yet.

On the other end of the spectrum, there are the WITs – ‘whatever it takes’ commitment.  Let me be clear- when discussing WIT, or, doing everything possible to success, we always mean doing everything while abiding by legal, ethical and moral standards.These are the people that do the work, take risk, fail, succeed, exceed goals, take on challenges, push the envelope, challenge the status quo and continue to reach higher and further. They make themselves do uncomfortable things and sometimes they make others uncomfortable by asking difficult questions and having fierce but effective conversations.

Then we have the Hawaiian group – The WITALAIITU. These are the people in the organization that look like WITS but really are closer to being coast-to-coast club members.  They embrace new ideas but don’t execute. They are excited about training but never develop.  Do a great job of pre and post-call strategy sessions and role- playing but fail to execute in front of a prospect. They will give you the thumbs up when you attempt to implement a strategy of getting introductions from clients but never ask because it will make them uncomfortable when their client resists and they have to ask why.

It's important that you understand the commitment levels of your sales team and coach them accordingly.  That should be YOUR commitment.

If you’ve been in our training, you know what WITALAIITU means. If not, give it your best shot!  Email me your guess at tony@anthonycoletraining.com and I’ll give you the answer. If you send me the correct answer, I will send you a gift.

Topics: sales commitment, commitment to succeed


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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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