For years I have held a strong belief that, in the consulting and training business, the most dangerous foe is not one of our competitors. Instead, our greatest competition comes from inaction; clients deciding to stay with the status quo, not hire anyone, or delay their training initiative altogether. Too often, we lose the business to “doing nothing” rather than our competitive rivals. If the economy worsens, “doing nothing” becomes an even more prolific option.
It is obvious that “doing nothing” has expanded its competitive presence into many other industries as well. Any industry where growth comes from zero sum game competition, (if you win the business another similar company is losing it) is being severely impacted by the specter of “doing nothing.” In a tough or uncertain economy, customers become more risk averse, preferring to ride the status quo. That makes it harder than ever for product/service providers to gain market share unless they are willing to dramatically lower the price point. I call that the “me too for less” pricing strategy and it is NOT a great plan in most cases.
Any industry viewed as dependent upon discretionary or “non-core”spending is being impacted like never before by the competitive rise of “doing nothing” Just look at the travel industry. Even such venerable travel destinations as Hawaii are posting a 16% drop in room occupancy over the same period in 2012. The car industry’s woes have certainly been well documented, as have most industries that depend upon gaining access to disposable income. Right now, “doing nothing” is often the keeper of the disposable income wallet.
So how do we combat the formidable competition of inaction and grow our businesses through lean or uncertain times? As stated above, lowering your price might help… in some cases… for the short term; but it’s a dangerous strategy at best. In many industries the main driver isn’t price anyway; because the customer simply may not have the budget regardless of the “deal” being offered. It can be a formidable challenge to be sure.
I wish I had an easy answer to the threat of “doing nothing” because, in my industry, we’ve been going up against this adversary for years. The only solution I have found is to hone in on the position you desire in your market, and commit
completely to owning that space. Get crystal clear on your organization’s strengths and competitive advantages and make sure everyone in your organization is aligned to your value proposition. As Simon Sinek writes in “Start With Why” you need to get clear and communicate why you are in business ahead of the what and how. Then go out and work your butt off. It isn’t glamorous, but it is effective. I have found that while “doing nothing” is a tough competitor, it is perpetually plagued with low levels of customer loyalty and is easily worn down if you just keep working hard at selling the right way.
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February 21, 2013
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As research for his latest book “To Sell Is Human” Best Selling Author Daniel Pink conducted research into how “non-sales” professionals spend their days at work. The survey was executed by the firm Qualtrics and the findings might be a bit surprising to many. The survey concluded that non-sales professionals currently spend over 40% of their day engaged in non sales selling, persuading, influencing, and convincing others in a way that doesn’t involve anyone making a purchase.
In a July Success Magazine article by Joe Polish, Dan Sullivan provided this definition of selling: “Selling is getting someone engaged in a future result that is good for them and getting them to emotionally commit to take action to achieve that result.” When you examine that definition of selling Dan Pink’s findings are not that surprising after all.
In the book “Real Influence” by Mark Goulston the process of “non-sales selling” is positioned as “influencing.” According to Mr. Goulston the real challenge for both selling and non-selling professionals is overcoming their “blind spot” in trying to influence others. The author explains that we need to get out of “Your Here” and get into the other persons perspective or “Their There” in order to influence in a way that is neither manipulative nor predatory. Said another way we need to become more perceptive at understanding how the other party thinks and feels while becoming less preoccupied with our own perspective or “blind spot.”
In “To Sell Is Human” Daniel Pink’s findings concur with that assertion in citing a study by Wharton management professor Adam Grant. In this study Professor Grant looked at the correlation of extroversion and introversion to selling/ influencing success. What were the findings? The difference in sales results between extroverts and introverts were almost non-existent but BOTH categories were significantly outperformed by a third category labeled “Ambiverts.” These types of people are the most common in society and display neither strong extroversion nor introversion characteristics and are therefore more likely to be able to FLEX their communication style. To put this in the context of Goulston’s writing Ambiverts are much more likely to be able to avoid their “blind spot” and understand the other person’s perspective or “Their There.”
The fact that most of us are Ambiverts means that we were, to once again quote Mr. Pink, “born to sell.” If you would like to test yourself on extroversion/introversion/ambiversion you can go to the site www.danpink.com/assessment and complete a free assessment.
At my firm, SalesGrowth MD, Inc. we have long espoused the virtues of selling in a new way. Our “life skill” based approach to selling, powered by Sandler Training, is not only ideally suited to the changing world of professional sales (read Mr. Pink’s book if you don’t believe the world of selling has changed) but also to the emerging world of the “non sales professional” where 20 minutes of every hour are spent on “selling” activity. To learn more please visit us at www.salesgrowthmd.sandler.com .
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January 17, 2013
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The first of every year signifies a new start for all of us. It is a banner month for gyms and the diet industry as millions of us pledge to get ourselves in better shape. In business we get to wipe the slate clean and start all over again with the promise of an even better year than the one that just passed. For most companies that might mean a renewed focus on growing at a faster rate than the previous year which coincidently might involve getting in better shape as well! Here are 3 essential elements to make sure you check off your list in order to give your firm the best chance at explosive growth in the New Year.
1) Do you have a solid strategic plan for THIS YEAR? Many firms skip this step as it is viewed as busy work. Nothing could be further from the truth! It is not always the plan itself that delivers the most value but rather the planning PROCESS itself. In my blog “Planning For Growth” I covered the essential elements of a good strategic plan but he bottom line is this: if you don’t know exactly where you want to go your chances of arriving there are not as good. If you have sales people make sure they have plans for the year as well.
2) Are you chasing the right targets? Technically this should come out as part of the strategic planning process but it is so important I still listed it as a separate item. For many firms the targets are the same as
they have been for the past 10 years yet the game has probably changed. Those historic targets might not still be ideal current targets. Michelangelo, of all people, had a great quote that applies here, “The danger for most of us is not that our aim is too high and we miss but that it is too low and we hit it.” Go through the process of clearly defining what your ideal customer looks like. Go into as much detail and specificity as you possibly can and then compare that against the customers you pursued and landed over the past year. Are they the same? If so, congratulations your sights are correctly calibrated but if not, reset your scope!
3) Can you quantify the impact of your products and/or services? One of the most overused phrases in business is “value added”. Everyone says it but few can PROVE it! To the extent that you can clearly demonstrate and quantify the financial impact or “value” of your products or services above what your competition can offer you will consistently win the day. If you can prove the financial impact in your clients business that is great but if you can prove how your products and services impact you client’s CUSTOMER’S business then NOW you’re adding real value.
These three simple yet essential elements of creating sustainable growth may seem like common sense at first glance but common sense is definitely NOT common practice. Institute these essential items on a consistent basis and you will be in elite (and consistently growing) company.
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January 7, 2013
Short URL better sales, better selling, Business, Business Growth, Business skills, close more sales, Customer Loyalty, Customer Relationships, customer service training, Effective Presentations, Hiring For Sales, improved sales, Leadership, leadership ideas, Motivation, Overcoming Objections, poor sales, professional sales training, professional training, sales advice, Sales Assessments, sales development, sales effectiveness, Sales Force Management, sales help, sales ideas, Sales Leadership, Sales Management, sales management training, sales mentor, Sales Performance, Sales Presentations, Sales Professionals, Sales Prospecting, Sales Skills, sales success, Sales Team, sales tips, Sales Training, Selling, selling skills Building Company Morale, building sales force morale, Business, Business Presentations, Creating Value through the sales team, customers, dps sales training, Effective Presentations, positive energy, Power Point, Sales, Sales and Leadership Insights, sales growth, Sales Management, Sales Presentations, Uncategorized
completely to owning that space. Get crystal clear on your organization’s strengths and competitive advantages and make sure everyone in your organization is aligned to your value proposition. As Simon Sinek writes in “Start With Why” you need to get clear and communicate why you are in business ahead of the what and how. Then go out and work your butt off. It isn’t glamorous, but it is effective. I have found that while “doing nothing” is a tough competitor, it is perpetually plagued with low levels of customer loyalty and is easily worn down if you just keep working hard at selling the right way.
