ACTG Sales Management Blog

Sales & Sales Management Expertise Blog  

The Solution vs. Budget Dilemma

Posted by Jack Kasel on Wed, Sep 25, 2019

There is an age-old debate about which came first, the chicken or the egg? 

While that debate may never be solved, there is one “which comes first” situation that shouldn’t be up for debate and that is, “See the solution first OR know the budget first?

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In our work helping client’s develop their sales talent, there are two topics that get avoided on a regular basis.  Plus, both are to the detriment of the salesperson.  Those two taboo topics are discussing the incumbent and discussing the budget.  We will address the incumbent discussion in a later blog.  For now, let's talk about the "dreaded" budget discussion.

When we refer to the “budget”, we are referring to it in three categories commonly known as
TMR—Time, Money, and Resources. It is our experience that the stronger sales professionals don’t shy away from that discussion.   They aren’t afraid to ask, “How much have you set aside to make this problem go away”?

They are successful because they follow these rules:

Rule #1Have the conversation.  The 800 lb budget gorilla is in the room, so talk about it.  If you have taken the OMG sales assessment, look at the section on “Ability to Discuss Money” to see if that is a weakness or strength.  If it’s a weakness, put a plan together to help overcome this obstacle.

Rule #2Provide context.  Regardless of the investment your prospect needs to make to fix their problem, it needs to be framed in the context of their pain and your ability to eliminate it.  If the pain is minimal, then your solution won’t seem that great.  We’ve had prospects tell us their problem is a “two comma” problem, meaning their cost of turnover was over $1 million dollars.  That’s context.  Know their cost before you proceed!

Rule #3Don’t show your solution until you know the budget.  It’s really that simple.  If you have ever provided a solution to a prospect only to hear them say, “that’s more than we intended to spend”, then you have an issue discussing the budget.  Does it make sense to know their appetite for change, including budget, before you provide your solution? Here is where the strong sales professional is different.  If the prospect doesn’t want to discuss budget, they know it can be for one of two reasons.  You haven’t uncovered enough pain or they simply want to use you as a pencil sharpener for the competition.  You don’t get paid to be a pencil sharpener so don’t become one.

In closing, don’t be afraid of the conversation.  In the history of sales, no one died from discussing budget, I doubt you will be the first.

 

Topics: Meaningful Sales Conversations, sales management, time, money, budget, solution, sales conversations

Practice Schedules: A Perfect Sales Productivity Tool

Posted by Tony Cole on Fri, Sep 20, 2019

I started this series of articles by relating my experience coaching football to selling.  It is my goal now each week to focus in on one of the 9 football related tools that can be applied to selling.

Our first, the practice schedule, is one of the most important tools used by football teams.  Overall, practice is an essential contributing factor to success on the football field. 

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It is important to note that, in football:

  • Understanding your opponent is critical
  • Reviewing practice and game performance is needed
  • A team has to have a solid strategy in all aspects of the game
  • Great athletes must be able to make game time adjustments and decisions
  • And yes, an occasional good bounce can be additive

At the end of the day, however, improving skills, practicing the game plan, and getting feedback from the practice sessions are crucial for success!

4 Minute Practice Makes Perfect Video

But back in the day, before I retired from coaching, we used to have 30 practice sessions before each game.  Each session was at least 2 hours. For every hour on the field, there was at least 1 hour in the classroom and at least 1 hour of film study or playbook study.  This was all for about 8-10 minutes of actual action on the field.

How much time are you spending practicing to improve your sales management skills?  How much time are you spending coaching your people to improve their craft?  And don’t tell me:

  • We hire / I have experienced people
  • We hire adults — we expect them to do what they need to do to get better
  • I’ve been at this for 20+ years, I think I know what I’m doing

Tell that to the greatest coaches of any sport in the game and they will tell you how wrong you are to believe that experience, or years in the profession, means that less time is needed in practice.

Tell that to Tom Brady.

Now let’s talk about practice as a sales productivity tool.

Malcom Gladwell’s oft quoted “10,000 hours” of practice to become expert in a skill may in fact be more of a platitude than a fact.  What appears to be a fact is that there are contributing factors to practice that are connected to competency and eventual expertise in a skill.

One of those contributing factors is a feedback loop“A feedback loop [provides]…the necessary information for adaptive measures to achieve the desired levels of teaching and learning objectives.”  Brunel University Study

At Anthony Cole Training Group, we have delivered workshops and focus on the concept of an ideal week in all of our training programs.  To support the ideal week, we help our clients develop their ideal week.  Within that ideal week is time allocated for practice.  Regardless of the outcome of the "10,000 hours" debate, there is no debate about implementing practice as a requirement to improve a skill or performance across the board.

What should practice look like?

Your practice should include the following sales practice components:  Drill for Skill, Role-Playing and Strategy Development.  To accomplish these exercises, you should have pre and post call checklists as well as phone call scorecards and data from your sales huddles. All of these data points act as ‘video’ of how you or your people are actually performing. Using the data and real time information allows you to make your coaching and practice sessions more intentional.

To find out more about the ideal week and other tools we offer, visit our Sales Productivity Tools resource below:

https://blog.anthonycoletraining.com/sales-productivity-tools

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For those of you that like to do the research on the research:

Practice Makes Perfect – Science Daily

Deliberate Practice – Business Insider

How To Learn any Skill With Your Own Weekly Plan – Kayla Mathews MUO Blog Post

 

 

Topics: practice, Sales Enablement, sales practice, creating new sales opportunities, football, sales and sports, practice schedules, selling tools, sales productivity tools

Football & 9 Sales Productivity Tools That Will Change Your Results

Posted by Tony Cole on Mon, Sep 16, 2019

We often find there is a direct connection between sales and competitive sports. Due to his time on the football field as both a player and coach, Tony Cole has identified 9 Sales Productivity Tools that will help your producers build better plays, hit harder on the field, and come home with more wins. 

Over the next several weeks, Tony will be releasing a series of blogs discussing the 9 Sales Productivity Tools mentioned below in greater detail. Stay tuned for more information!

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I recently started working with the Moeller High School football team and am inspired to share some of my experiences in this blog and with my followers. I will try not to get too carried away with my football stories, analogies or metaphors but I will likely fail.

Coaching football and coaching sales have so much common ground. My current experiences at Moeller have helped me identify 9 football related sales productivity tools that I will introduce below and write about for the next 9 weeks. It's the season!

When these sales productivity tools are used by managers and salespeople, they will create more productive and effective sales results.

From 1963 to 1984, I either played football or coached football.  It was in my blood, it defined me, and it was all that I thought about.  It’s how I framed my world.  My language and thoughts were always tied to the game, the sport, and the competitive nature of football.  I still think and talk like a football player/coach:

  • You’re out of bounds
  • That’s a Hail Mary!
  • You must have played without a helmet
  • He’s on the all shorts team
  • That’s a long shot
  • What do we have to do to win?

If you are not a football fan, you are missing out on something great.  No other sport requires the same level of commitment, skill, discipline, courage and motivation as football. But I’ve been out of football since 1984.  However, this spring, my friend Tim Mackey asked me to go to lunch to discuss an opportunity he was offered at Moeller High School. That is how I am now involved in one of the most storied high school football programs in the country.

As I started working with the team and other coaches at Moeller, I discovered the linkages between coaching these two great sports: sales and football. The sales productivity tools I describe below are inspired by working with our football players and will help all of the salespeople we coach as well. 

Dig in!

9 Football Related Sales Productivity Tools

  1. Practice Schedule – All professionals need practice. Every team I have ever been part of has a schedule for practice.  In that schedule, the game is broken down into units where each specific aspect of the game is practiced:  Offensive line, defensive line, running backs, linebackers, special teams, two-minute drill, punt return.  You get the picture; you need to have a practice schedule for your sales skills!
  2. Probability Sales Scorecard – The probability scorecard is like the yard markers on a football field. The markers tell you how many yards you must go to score or how many yards you have to protect to keep from being scored upon. The probability sales scorecard will tell you, with a high level of accuracy, what the likelihood is that you will either win or lose the deal.
  3. Huddles –Just like in football, huddles are a communication system that provides coaches with real time information so you can make real time decisions.
  4. Goal Setting – Most teams have a period prior to the season when the staff discusses objectives and goals for the season. The discussions are based on previous performance, expected competition and the talent level of the returning and newly recruited team.
  5. Success Formula –Each team knows or anticipates what it needs to do to win a game. They need to identify metrics such as: How many yards on first down do they need? What are the average yards per completion and what is the completion percentage? How many passes need to be completed?  How well does the punt return team have to perform and what is expected of the defense in the ‘red zone’.   You will have the opportunity to download the success formula sales productivity tool in a future blog or you can get it now at:  Sales Pipeline Calculator
  6. Ideal Week – Every team goes into a game with their ideal game plan. In other words what plays do they want to run in various situations on offense and what defenses will they call given field position and tendencies of the opponent.  Very little is left to chance. However, there must be flexibility because field position can change in an instant.  You need to have a game plan week in and week out and that is done by first identifying what your ideal week looks like.
  7. Pre-Call Checklist – In football, plays are most often called by the offensive coordinator from the sideline. However during weekly practice, the coordinator goes over a series of pre-snap situations with the offense so they can quickly adjust to the play called depending on what the defense does.  You and your salespeople should go into EVERY appointment with a pre-meeting or pre-call checklist so that they are better prepared to execute the play (sales plan) on the call.
  8. Post-Call Checklist – After every game and sometimes after every practice, the coaches review film and compare it to the plays or defenses called. This allows for a measurement of performance against the planned execution (pre-call checklist).  The post-call process allows for corrective action / training and more appropriate follow up steps with the prospect.
  9. Performance Recording Tools – Back in the day, we used 8-millimeter films to review our game performance. Now digital audio and video devices give football teams instant feedback on practice and game performance.  These tools must be used to record practice, and in some cases, live scenarios, so that actual performance can be observed. Observing what someone does is a lot more impactful for both the performer and the coach than attempting to coach based on hearsay or just data reports.

Each of these sales productivity tools will be discussed in detail and available to you in future articles so subscribe to Tony's blog today. As a bonus, sign up below for your 10th sales productivity tool- our Weekly Sales Brew!

Sign Up for our Sales Brew

Topics: sales tips, sales development, sales success formula, building sales relationships, Sales Tools, sales productivity, football, sales and sports

The Two Truths and a Lie of Prospecting

Posted by Tony Cole on Tue, Sep 10, 2019

Prospecting for salespeople is often a struggle due to varying factors including their ability to stay committed to the process and overcome rejection.

In this article, we cover the often dreaded, but mandatory, task of sourcing and creating new sales opportunities.

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Salespeople have to prospect – that’s the truth. Salespeople can find their prospects through a variety of different avenues, including; introductions, direct mail, internet offers, networking, internal referrals from business partners, cold calling, campaigns, association memberships, and business networking groups. 

What is also true is that, no matter how a sales person gets a name, the next step is to contact them. You can contact them by mail (email or snail mail) or by phone (the most common method). If you are going to have any chance to schedule time to talk with them about their current situation to determine if they are a prospect for you, you must have contact. That’s the truth.

Prospecting is FUN! Now, that’s a lie. Prospecting isn’t fun. It’s not intended to be fun. Anyone that says it’s fun is lying. If you are a manager, don’t tell your people to “just pick up the phone and have fun with it”. They will know you don’t know what you are talking about.

They’ve had fun before: Water skiing, swimming, hiking, going to a play or the opera, having a picnic, watching a ballgame, getting a promotion, a raise, or recognition for a job well done. All FUN! However, facing rejection, not talking to anyone, having people curse or hang up on you, having people who schedule appointments and then cancel or don’t show up?  ZERO FUN.

If prospecting isn’t fun, then what is it? Back in the day when I was still trying to figure out how to be successful in selling, my coach told me this:  “You don’t have to like it; you just have to do it!” And that is prospecting.  It’s called work and not play for a reason. It is work. You have to put a lot of preparation, emotion, intellect and skill into being successful at prospecting.

David Kurlan from Objective Management Group has found that the single biggest contributor to sales success is the ability to be rejection-proof. Even with all the skill, techniques, scripts and preparation, if you cannot handle the rejection and emotional roller coaster of prospecting, then you will struggle, be inconsistent and fail more than you succeed.

The bottom line is that this isn’t about making it fun. It’s about getting the job done so you have solid appointments that turn into solid opportunities that turn into closed business.

THAT’S where the fun is!

Topics: sales prospecting, contacting prospects, reaching prospects, prospect outreach, creating new sales opportunities

Sales Inspiration from Two Basketball Legends

Posted by Tony Cole on Fri, Aug 30, 2019

The buyer's cycle has changed. These days, when a buyer wants to make a purchase, they have all of the tools located in the palm of their hand.  If you are not making the buying process as frictionless as possible, then you are most likely going to lose out on a sale. 

Even if it's a long buying cycle, it still needs to be a seamless one!  In this article, we discuss valuable lessons for salespeople and their sales leaders, including an excerpt from legendary UCLA Head Coach John Wooden and his former player (and NBA star) Bill Walton.

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The only difference between successful salespeople and the other 77% is that the successful salespeople actually do the very things they don’t like doing.”  

This is a quote from Dave Kurlan’s blog post about Bill Walton and John Wooden (see Additional Resources below).  Dave uses role-playing as an example.  I see this all the time!  Ask someone to role play in front of the group and they shut tight like a clam. 

How can you possibly get better at pressure situations if you don’t practice under pressure?

Bill has published and is now marketing his book, Back from the Dead.  I read a couple of lines from an interview with GQ and immediately went to my Amazon add-in and downloaded the book with my 1-click.

Here was my amazing buying experience:

  • I read an article that got my attention.
  • I clicked on a button in my Firefox ribbon at the top of my page.
  • I searched Amazon for “Bill Walton”.
  • The book popped up.
  • I clicked on the little thing on the right side of the page that said, “Buy Now using 1-click.”
  • I wanted the Kindle version so I could read it on the plane without carrying a big book, so when Amazon asked me if I wanted it downloaded to my iPhone, I clicked “yes.”
  • This all took less than a minute.
  • And that, my friends, is today’s sales cycle.

In your sales world, it might not take as many steps or it might be more.  In your sales cycle, it probably takes more than a minutemaybe 30 days, maybe 120, maybe a year.

Bottom line: There is something that stimulates the buyer. The buyer gets the information they want and then… when they want to buy… they want to make the process easy and they want options.

If you are not doing those things (stimulating the buying response – providing information to make a buying decision – giving them options – making it easy), then you are going to lose the sale to those that do those things. 

Not only will you lose occasionally, but sooner or later, it will become a permanent condition.

Now, my favorite Bill Walton and John Wooden story.

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Watch the video to get the whole story, but in short, the lesson for the Sales Leader is this:

  • You’ve been hired to do a job – drive sales growth/win market share
  • Part of that responsibility is to put the best team in the market.
  • As the coach, you establish the culture for winning; you set the team rules.
  • You can lead people but you cannot make them do something – players have free will.
  • If someone violates the rules, something has to be done – bend the rules, keep the rules
  • If a salesperson wants to exert their independence, let them. But let them do it somewhere else.
  • They have to want to play for you and win more than compete against you and lose.

Additional Resources:

Dave Kurlan’s blog:
The Sales Success Secret Shared by Bill Walton and John Wooden

Unless you have strong leadership, the money you spend on sales training is wasted. Stop wasting money.  In addition to great players, the key to a sales team built for growth is great sales management Leadership and Management. Read more about our Sales Management Certification.

Make sure you get great players who are committed to winning for you – Hirebettersalespeople.com

Topics: NCAA, Bill Walton, John Wooden, close the deal, sales challenges, life lessons


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    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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