06 Jul

Have you observed that the effectiveness of your standard sales pitch varies significantly based on the personality of your buyer? If not, it is essential to pay closer attention. Individuals possess distinct personalities and respond differently to various situations. I suggest that sales pros study buyers, not just pitch products. It is essential to tailor your messages and pitch to the specific type of buyer. Failure to do so may result in your message not being well received. For example, if your contact is a risk-averse introvert who is hesitant to try anything new, imagine how she might react when asked...

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...

06 May

Understanding Economic Cycles Economic cycles, comprising phases of growth or expansion and contraction or recession, are a fundamental aspect of the financial landscape. These cycles are a natural occurrence in all free economies, influencing how corporations navigate their operations to optimize profits and efficiencies. The U.S. economic cycle typically spans about five and a half years, although it can vary between eighteen months and ten years. Good times lead to difficult times, and vice versa. The stock market is dissimilar to the economic cycle, although they often experience similar behavior, as investors' beliefs in the future economy and company profits influence...

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...

14 Apr

I recently received a call from a sales professional seeking assistance with her strategy to beat her primary competitor, referred to here as ACME, on a significant sales opportunity. ACME frequently emerged as a finalist in many of her sales opportunities, compelling her to exert considerable effort to secure the sale. During our discussion, I inquired about her approach to competing against her top competitor. She responded: "What do you mean? I just informed you that ACME, whom we have been discussing, is my top competitor." I clarified that while ACME was a formidable competitor, it was not her foremost...

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...

24 Mar

Some people struggle to get started in the morning.  I never have had that problem.  I've always approached mornings with a clear sense of purpose, direction, and inspiration. I wake up early, feeling eager to commence the day's activities.  I seek challenges. Before having coffee, eating breakfast, or getting ready, I already know what I want to achieve that day. Often, I dream about the day's challenges while I sleep, which helps me mentally prepare. I create a "To-Do" list daily, checking off completed tasks and carrying over unfinished ones to a fresh list for the new day. Keeping this list...

17 Mar

You are the CEO of your personal brand. What does this mean, and why does it matter? In today’s world, whether you’re building a career in a corporation, as a skilled car mechanic, a talented beautician, or a dedicated elementary school teacher, managing your personal brand is essential to distinguish yourself from others. Think of yourself as a business. You market and sell your value—your skills, talents, and contributions—to employers, clients, or consumers. In return, they compensate you for that value. You also engage in transactions and purchase goods and services from others. Who runs this business? You do. As the...