The Alternative Board - East Valley

SALES PROCESS - Build trust and Rapport with Prospects

Due to all the scandals which have befallen this economy, it takes more of a conscious effort to build trust and rapport with a prospect then ever before.  People and companies are afraid to buy from untested suppliers and would rather stay with established vendors even when there are problems.  How do we build the level of trust and rapport necessary to get new business?  Don't think it is by lowering prices.  I think most sales are lost because the rapport and trust just was not there, NOT price or the other excuses for not buying.  Here are some tips on building trust and rapport.

1.  Watch body language and gestures - 55% of communication is body language.  Be aware of your body language and the prospect's body language.  An effective listener notices all aspects of communication and is aware of voice tone, facial expression, repetitive movements, muscle tension, and particularly body language.

2.  Listen and hear what your prospect is saying - Make a conscious effort to hear every word and let them finish their thoughts.  Do not respond directly without using phrases like the following:

a.  If I understood you correctly......

 b.  I appreciate what you are saying .....

3.  Try and get to know your prospects on a more personal basis - Know where they came from and what got them in the business.  However, you must be very sincere about your interest.

4.  Develop the mindset of a business consultant rather than a sales person - find out other problems and challenges, and if your product or service does not fit, perhaps your experience or contacts can help them.

5.  Take notes and repeat back the actions that must be taken to move forward on the sale - Set dates when it will be done, and follow up, follow up, follow up.

6.  Keep a consistent contact - use your CRM to make periodic phone calls, send e-mails, or send interesting articles or information which pertains to the prospects problems and challenges.  DO NOT send jokes, religious, or politically slanted information.

These are only one of many issues we brainstrom and try to help each other with at the Alternative Board meetings.  If you would like to discuss this topic frurther with me, have discussions with your sales team, or disucss about joining a Board, please do not hesitate to contact me. 

The Sales Process - Prospect Development

In our discussions at our monthly TAB meetings, we frequently speak about how to manage salespeople. Managing sales people is not always an owners primary concern and their performance is usually only judged by the revenue produced. This is very dangerous. Throughout my career, I have seen many instances where the sale has cost the company more then the revenue generated. Understanding the sales process, benchmarking your best sales person, and having an integrated sales measurement system are keys to managing a sales force and maximizing profits. In November, we spoke about Lead Generation and Management . This is only the start. Prospect Development requires a whole different skill set for sales people. We now have the appointment, and now is the time for the salesperson to sell himself, the company, and then the product. Keep this in mind. A company can have the greatest product in the world, but if the prospect does not believe in you or your company, the product will not be sold. When asked 9 out of 10 sales people will tell you that they sell, because they are able to develop relationships. Although there is much truth in this statement, the sale sometimes never goes beyond that point. It is absolutely CRITICAL for the salesperson to be asking the right questions, and listening to move the sale beyond the relationship phase. Your best salesperson is the best listener, NOT the best talker. Only after the right questions are asked should a presentation be made. In this way the presentation will fit the buyer’s needs. A good exercise for your sales group is to develop a series of at least 5-10 questions for each of the following categories and then determine what are the most important in each category to be asked before a full blown presentation be made: 1. Relationship and Rapport Building – Show an interest in the person first. Ex. How did you get started in the business? There has to be sincere interest. 2. Lay of the Land and Information Gathering– What prompted you/your company to look into your product or service? How, who, and when will a decision be made? What has been budgeted for this project? What are the expectations? 3. Pain – What challenges has the company/person faced with product or service? 4. Fear – What is the company and the person afraid to do? What is the risk involved in making the decision to go with a new company, new product, or different product or service? 5. Consult Questions – The idea here is that the salesperson is bringing in the companies expertise into the picture. This really starts the differentiation from the competitors. This is especially important when dealing with multiple solutions to an opportunity, or a commodity type product. At this point the close is either to go to the next step and make a presentation, or set up a second appointment for a more full blown demonstration or proposal. Your sales team should be required to ask and document at least 5-10 key questions for every prospect appointment made. Again, get those CRM systems working so you can document, track, measure,teach, and take the proper ACTION to move forward. If this is interest, and you want further discussion, please do not hesitate to contact me.

KEYS TO BEING A SUCCESSFUL BUSINESS OWNER

I was just reading a post from the Business Owners Blog written in December from one of my collegues Ray Brun called SIXTEEN MIND FRAMES OF SUCCESSFUL BUSINESS OWNERS.  Even though this was written in 2006, the mind frames are even more important today.  He refers to Successful Owners of Businesses as SOB's.  Affectionately, of course.  One does not have to perform every mind frame to be successful.  However, if you are not doing at least 50% you may want to consider taking action.  Can you add more to the list?    These are also great discussion points at your Alternative Board meetings or with your particular peer advisory group.  I hope everyone has one.  Here is the short version of the Mind Frames. 

1.  There is always a Better Way to Do it.

2.  Being a Marketer Turmps Being a Master Every Time (my particular favorite).

3.  Risk is alway Manageable.

4.  The Answer is Somewhere - Don't ever be afraid to ask for help.

5.  Delay is Costly and is Unacceptable - Take Action NOW.

6.  I can Always find Self Confidence When I need it Most

7.  Where There is a Problem There is a System to Solve It

8.  There is no such thing as a problem only opportunity.

9.  Mistakes are a Requirement for Success - See my previous blogs.  Embrace them and learn from them.

10.  They Set high standards.

11.  Creeping Excellence Trumps Perfection - There is no perfect company.  If you know one tell me, so I can work there.

12.  Focus equals power -  Who doesn't have difficulty with this one? 

13.  It is About the Goal Not the Plan -

14.  They empower others.

15.  They Break Overwhelming Projects into Small Steps

16.  Having Your own Business is a Joy.

WE ARE ALL IN THIS TOGETHER

As business owners in the East Valley, we are all in this economic crisis together.  As a community of business owners what benefits one benefits all especially in these challenging times.  The Alternative Board (TAB) has benefited over 3000 businesses both locally and nationally.  The Alternative Board is where business owners help other business owners in a confidential “think tank” environment.  They work on various business concerns such as sales, marketing, cash management and personnel.  They hold each other accountable, in a way in which only peers can do.  I recognize that it may not be for you.  Believe me, I am okay with that.  At the same time, I talk to dozens and dozens of business owners every month.  Some maybe possible prospects for what you are doing.  I am passionate about helping, and if your service can benefit the local business community or one of my contacts, I will be happy to pass it along.  Regardless what you decide to do regarding TAB, each of us will have a resource if the need arrives.  Can we meet so we can discuss some of your business concerns, the Alternative Board, and get a better understanding of your business, so I can refer you when the need arises? 

WHERE IS YOUR BUSINESS NOW AND WHERE IT IS GOING?

Difficult economic times call for ACTION.  One of the unseen challenges of small business owners is to know exactly where they stand with their customer, their employees, and consequently their business.  I do not know how many times I have asked business owner why they sell, and then ask one of their customers and get a completely different answer.  Honestly ask yourself the following questions: 

1. Is your management team in alignment with your Vision and Goals of the Company?
2. Is your organization aware of the factors which are critical to your success? 
3. What does your staff REALLY think about the direction of the company?
4. Do you really understand your companies Strengths and Weaknesses? 
5. Do your customers really KNOW what you do better than all your competitors, and do they pay for it? 

At The Alternative Board® we offer an on-line business assessment tool which will evaluate the company performance utilizing the input of yourself and key company employees.  We can also compare your results to those of companies with similar SIC codes.  It will give you an in-depth 360 degree snapshot of your business and will help you brainstorm ideas, create goals and strategies, and prioritize those areas most important in developing your business.  The key functional categories include:

Sales                                                                Operations

Marketing                                                          Corporate Finance

Planning                                                            Computer Technology

Customer Service                                               HR Procedures

Internal Communications                                    Employee Development

There are special sections for different company situations such as

Overseas Markets                                              Not for Profits

Time Management                                             Retail

Manufacturing                                                    Distribution

Planning to sell

 

Call to Action: If you are in the metropolitan Phoenix area and would like a complimentary TAB Business Vantage assessment plus a one hour face to face debriefing of the report please give me a call at 480-656-3565 or e-mail me at allanh@tab-scottsdalenorth.com .

 

 

Better Communication - A Key to Growing Your Business

Throughout time miscommunication has always been a problem. Today, with the advent of e-mails, texting, and voicemails, miscommunication has become dramatically worse. We have more communication and greater misinterpretation. People are more likely to avoid face to face confrontations and difficult discussions, and rely on e-mails and voicemails. In these difficult times, where fear and security in companies is prevalent, clear communications understanding, and empathy are vital in growing your business. At The Alternative Board, we encourage open communication among business owners. This requires strong interaction,confidentiality, respect, and commitment. We use TABenos to assure that the egos are checked at the door. TABenos is derived from the Greek word “temenos" meaning: “A sacred palace in Greek Mythology where warriors felt so safe, they could take off their armor. We ask two basic points: 1. What characteristics have to be present for you to feel totally safe, so safe you can be completely honest and open with those around you? 2. What does your armor look like? That is, how do you defend yourself? How can the group recognize it, so that it does not impede further communication? There is a list of approximately 200 behaviors and attitudes under these two points. This is a great group exercise. If you are interested in getting more information, call me. DON’T e-mail. LETS TALK.