06 Jun

Here is the scenario: You developed a lead into a qualified opportunity, held meetings to demonstrate your value proposition, answered questions, arranged customer visits, and crafted a return-on-investment case that impressed the Economic Buyer. The buyer's interest grew, leading to calls for more information, workshops, contract requests, and training queries. They analyzed your solution, asked their questions, and examined the alternatives. Then, you were informed that your solution was selected from among the several they were considering. However, the deal suddenly stalled, your contact is not returning calls, and the opportunity remains open.  Has this happened to you? Your contact informed...

06 Jun

When pursuing a prospect in the sales cycle, it might seem advantageous if there is no competition. Indeed, discovering a lead and completing the sales process without the threat of a competing supplier can be less stressful, as no competitors are highlighting potential shortcomings of your company or product. Such scenarios are uncommon and should be celebrated when they occur. This has become even rarer since the pandemic, which has made access to prospects more challenging. However, competition can sometimes be beneficial in closing an opportunity. This may sound counterintuitive, so allow me to elaborate. An essential aspect of ensuring that time...

22 May

Nature versus Nurture? The debate on whether excellent sales pros are born or made is a classic nature versus nurture argument. After extensive experience in hiring, coaching, and managing over a thousand sales pros, the author concludes that most (not all) high-performing sales pros are born with innate skills, which they further develop. While some mediocre sales pros can improve with training, they are a minority. The author disagrees with best-selling author Daniel Pink's view that everyone is naturally a salesperson, citing statistics and personal experience to support the idea that natural-born sales pros have a significant advantage. I had the opposite view! When...

28 Apr

Have you ever walked into a meeting where one person dominates, trying to prove they know more than everyone else? And that you don’t know anything? It’s unwise to challenge them head-on. Handling Mr or Ms “Smarty Pants”: Navigating the Know-It-All Factor in Sales Every salesperson encounters brilliant evaluators eager to prove their expertise, often at your expense. They do not hate you or your company. It's usually an ego issue—they need to show off in front of peers. They rarely act this way in one-on-one conversations. Their sharp intellect and relentless questioning can derail your presentation and threaten your sale if...

09 Apr

As a former accountant, sales manager, economics instructor, and someone who spent many years calling on large financial institutions and major corporations in the anti-money laundering field, I have always been fascinated by the concept of risk. Risk may be defined as the measured avoidance of negative consequences of an action. Whether it's losing money on a financial transaction, loaning money, or jumping out of an airplane, risk is an inherent part of our lives. Risk assessment is a fundamental part of our decision-making process, often done unconsciously. We first learn about risk, at a young age, when deciding whether to...

02 Apr

This is paraphrased from a famous line in a song written by Bob Dylan. The song suggests youthful idealism often gives way to realism with age. Many think they're brilliant when young but learn more as they grow older. I found this true in my career—from thinking I was brilliant in my 20s to becoming wiser in my 30s, 40s, and 50s. Life's complexities often show fewer black and white absolutes and more nuances. Adapting to technological changes means embracing new ideas and continually retraining. Rapid advancements require us to understand new technology's benefits and drawbacks. Success comes from being adaptive,...

11 Mar

I love sports and often use sports analogies. Now is the time of Major League Baseball's Spring training. At every team's camp, at least one or more young men try to earn a place on the team's roster. Here is a hypothetical situation: Your team has two people at camp competing for one position, let's say third baseman.  So far, one young player, Smith, has had a terrific Spring.  His batting average is .453, he has stolen three bases, his fielding has been perfect, and his attitude has been exemplary. Smith was undrafted out of college, where he played for three years and...

24 Feb

This past week, I had a case of influenza. It reminded me of an incident many years ago when I began my career as an accountant. I joined the cost accounting department for GD Searle & Co., then an independent, more than one-hundred-year-old, family-controlled public biotechnology company, now a Pfizer subsidiary. The CEO at the time was Daniel Searle, a great-grandson of the founder. Searle was known for releasing the first birth-control pill, Enovid, and for developing Metamucil, Dramamine, Celebrex, and aspartame. The leader of my cost accounting team was Glen, who was in his forties.  Glen had worked for Searle for...

17 Feb

“Catch-22” was a popular fictional book and later a movie published by Joseph Heller in 1961. In Heller’s book, an Air Force lieutenant desired to be exempted from a bombing mission because he claimed he was insane.  But, claiming he was insane to avoid a dangerous mission demonstrated that he was sane.  Therefore, he could not be exempted from the mission because he was not insane. Merriam-Webster defines “Catch-22” as “a problematic situation for which the only solution is denied by a circumstance inherent in the problem or by a rule.”1  A typical example is a job-seeker not being hired because they...

10 Feb

One of the most overlooked keys to sales success is Attitude. A positive attitude consists of being mentally optimistic and self-confident. It is essential in sales—and life! Attitude is as important as skill in determining sales success.  How can you perform well if you’re not in your best mental state? If you don’t believe you will be successful, you will not be. I went into every sales call believing I would win and close each sale, regardless of the circumstances. This was not conceit or overconfidence. If I gave a better-than-average explanation of how my solution could provide the prospect with exceptional...