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Tony Cole

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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

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


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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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