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Negotiating on the First Tee (Part 2)

Posted by Tony Cole on Fri, Jun 19, 2020

In Part 1 of "Negotiating on the First Tee, we discussed the practice of negotiating with your prospect before you begin your presentation.  In Part 2, we continue this discussion and add more to the conversation.

In order to increase sales and close more deals, you must understand the client's business strategy, build a strong foundation for negotiation, and cross off all the boxes for a killer Sales DNA.

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  1. Establishing the ground rules for time of presentation are critical. Before we get to that though, you must have a transitional discussion
    • "Let me take a minute to review where I think we are..."
    • "You have the following issues a,b, and c that if not taken care of within this time frame will cause the following to happen and this outcome is a have to fix problem"
    • "Your capacity to invest time, money and effort to fix the problem is this…"
    • "And I’m assuming for a minute that if we are able to fix this for you, in the budget you’ve identified with the right criteria and priorities, you would also want me to be in a position to answer any and all questions at that time"
    • "Did I get this right?" (Buyer says yes)
    • "Good, assuming we can do this I will be prepared to do all those things. If I can’t, I will call in advance and cancel our presentation meeting.  Fair?" (Fair)
  2. Ground rules discussion:
    • "It may not be effective here, but there is a process that we recommend to make sure we are all on the same page, can I share that with you?" (Yes)
    • I need for you to be prepared as well:
      • "As I am going through my presentation, you will be thinking one of 2 things: 1) this makes all the sense in the world; let’s do this, 2) This won’t work for me, the money is wrong or I don’t think there is a fit"
      • "When I’m finished, I’m going ask you which one you are thinking. What objections do you have to that process?"
    • Anticipate and prepare for objections when you complete step six. Keep in mind that  an objection, stall or questions does NOT mean they are telling you no. They just need more information or you need to find out more clarity about compelling issues, capacity to invest or clarity on decision making. At the end, you do your best to eliminate any TIOs (Think It Overs)
    • Let's assume for a minute that this works for you. You are not done minimizing the opportunity for negotiation at time of presentation.  When you finish this discussion, you must return to your  office and write out and send the "As we agreed to letter" that covers the 3 “Cs” and inform the buyer you will call to confirm the information you’ve sent.  Then call to confirm.
    • Presenting to get a decision is as much of a mindset as it is a process:
      • Review what you’ve discussed
      • Review the as we agreed to letter including money and decision process that will take place today
      • Ask, “What’s changed?”
      • Make the presentation starting with their priority item not the first page in your presentation
      • Answer all of their questions about each solution, get them to score that solution on a scale of 1-10. If you are 7 or better you are in good shape but still you need to get them to a ten.  Once you get the ‘10’ you check that item off.
      • Ask our closing question:
        • "What where you thinking as I went through this. Assume for this discussion they said, This is really great we should do this! 
        • You ask, what should we do now?
  • Or your alternative is:
    1. Do you believe based on what we presented that we understand your business and what you are trying to accomplish?
    2. Do you feel we can help?
    3. Do you want our help?
  1. Despite this great process and effort, you can expect buyers to ask you questions that they haven’t asked yet, raise objections, or present you with stalls.  The first thing is this: Be prepared by conducting pre-call strategy meetings and role play these challenges.  Always understand that prospects are looking out for their best interests and not yours. Do not get emotionally involved when they throw you the curve ball!

Now I bet you are thinking, Tony, where is all the negotiation stuff?  Well that’s it right there. You win the bet on the first tee.

Topics: compelling reasons to buy, communication, communicating expectations, cost of hiring mistakes, crucial elements, desire for success, consistent sales, commitment to succeed, commitment, decisions, desire, creating habits for success, coaching salespeople, evaluating salespeople, developing sales skills, evaluating sales teams, creating sales habits, core values and beliefs, creating advocates, consistent sales results, consultative selling, create & convert leads, complacency, contacting prospects, deal or no deal, creating new sales opportunities, consultative sales coaching, corporate sales training, consultative sales coaching cincinnati, consultative selling cincinnati, corporate sales training cincinnati

Enough is Enough

Posted by Alex Cole-Murphy on Thu, Apr 18, 2019

Complacency in selling is not a new phenomenon.  In fact, it has been going on for a number of years with salespeople accepting their status, their shiny new toys, and their numbers in the business, while exclaiming,

"Enough is enough.  I've accomplished it all!"

In this article, we discuss three keys to help sales managers bust the myth that “enough is enough” and continue to get the most out of their top producers.

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Too often, highly successful salespeople reach a point in their career where they become complacent and “enough is enough”.  This happens for many reasons, but one of the main causes I've observed is because "they've made it".  It doesn't matter what the gender or tenure may be — all that matters is that one day the sales person wakes up, takes a look around, and discovers that all of the things they strived for when they entered into the business have been accomplished.

For example:

  • They have the big house
  • They have the right car
  • They have the club membership
  • They are either empty nesters or they have the kids in private schools

In the past, Dave Kurlan at Objective Management Group has said that highly successful salespeople are motivated by earning more money. Recently though, Dave has done some additional research to indicate that money is NOT really the primary motivator, especially with today's younger generations.  

With this in mind, I don't want to focus on money as the motivator, but I don't want to totally discount the idea either - Money does help people achieve the other extrinsic motivators that are important to them. However, it is actually the specific goals of the individuals, that provide the motivation for earning more money.

For example, let's suppose you have a sales person who says spending time with the kids in extracurricular activities is important. I would suggest that being successful in selling "buys" one the time to have balance in their life and “buys" the ability to make the choice to go to a field hockey game at 3:30 in the afternoon. This freedom of time and choice might require your sales person to succeed at a higher level. People who are actively dreaming and motivated to reach their goals will continue to work towards financial success to fulfill those goals.

Here are 3 Keys to help sales managers bust the myth that “enough is enough” and continue to get the most out of their top producers. And if you are a top producer yourself, these are three areas you should question and reflect on for yourself.

  1. Ask the right question(s). It really isn't about money - how much they want to make, how much they want to have, when they want to retire, etc. The better questions focus on helping your highly successful salespeople determine what they would like to have to shape and define their lives. Ask them to rethink their goals to include some things that would be important to them to have as a legacy regarding who they are and what they accomplished.
  2. Create an environment where goal setting is also goal sharing. Too often, sales managers don't feel that it is necessary to know exactly what it is that motivates their salespeople. As a sales manager you may argue this, but the OMG data shows that 75% of all sales managers do not feel it is important to know what motivates their people. However, once you know what is important to you then, then you are more effective as a mentor and a coach.
  3. Build the company sales revenue plan from the ground up. Start working with your people and help them identify what their requirements are to have a lifestyle filled with happiness, success, and financial freedom. Document their individual requirements and provide a process to translate those requirements into a selling success formula. 

I've explained to salespeople that if the company has a bigger goal for them than they have for themselves, they shouldn't blame the company. The salespeople need to blame themselves because smaller expectations are a clear indication that they have stopped dreaming and stopped setting goals. I’ve explained to executives that it isn't about shareholder value. Their salespeople, unless they own shares, don't give a hoot about shareholder value. They care about sending their kids to school, buying a place in the mountains, paying for the weddings, etc.

When you have an environment where your people can continue to make their dreams come true, then you have something special where “enough is enough" is never an issue. 

Topics: motivating sales people, effective sales management, salespeople, sales opportunity, driven, complacency

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    About our Blog

    Founder and CLO Tony Cole has been working with financial firms for more than 25 years to help them close their sales opportunity gap.  He is a master at using science based data and finely honed coaching strategies to help build effective sales teams.  Don’t miss his weekly sales management blog insights.

     

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