The Key to Sales Motivation….
Your Real Goal
Your goal is to become a transformational leader, the kind of person that motivates and inspires people to perform at levels far beyond anything that they had previously thought possible.
Keep People In the Know
Transformational leaders empower others by keeping them "in the know," by keeping them fully informed on everything that effects their jobs. People want and need to feel that they are "insiders," that they are aware of everything that is going on. There is nothing so demoralizing to a staff member than to be kept in the dark about their work and what is going on in the company.
Give Regular Feedback
One empowering behaviour practiced by transformational leaders is regular feedback on performance and results. People need to know how they're doing so they can improve if performance is below standards and so that they can be proud of their successes. The more feedback you give to people, the better it is, as long as the feedback is objective and not critical. My friend, Ken Blanchard, says that, "Positive feedback is the breakfast of champions."
Be Generous With Praise
Be generous with your praise and encouragement. Remember, people are the only asset that can be made to appreciate in value by giving them warmth, respect, approval and by creating a climate of positive expectations.
Create An Exciting Future
What companies and countries and institutions need today are courageous visionary leaders who are committed to creating an exciting future for themselves and others. You have within yourself the ability to evolve and grow as a leader and to make a real difference in the world around you. And the one thing you can know for sure about yourself is that, no matter what you've accomplished up to now, there is far more that you can do.
As you practice the behaviours of effective leaders, you will grow more and more toward the realization of your full potential. It's completely up to you.
Action Exercises
Here are two things you can do immediately to put these ideas into action in your work.
First, hold regular meetings with your staff and tell them everything that is going on. Invite their comments, questions and concerns. Make everybody feel as if he or she was an insider in the organization.
Second, continually look for opportunities to give positive feedback, praise and encouragement. People need praise and encouragement like roses need rain and sunshine. Take every opportunity to make people feel better about themselves and their work.
Written by Brian Tracy and Trained by Mark Garbelotto.
Three Powerful Principles for Success
Be Clear About Your Goals
There are many simi larities between business and war. In both cases, the victor is the one who uses superior strategy against his or her competition.
There are three principles of military strategy you can apply to your work every single day. The first idea from the military is called the Principle of Man euver. The principle of man euver says that you should be clear about the goal, but be flexible about the process of ach ieving it. According to the Menninger Institute, this quality of flexibility is the most important single quality that you will require for success in times of rap id change.
Be Open to Continuous Feedback
A key peak performance quality for you is to "accept feedback and self-correct." Peak performers are those who can take information from their environment and even if the information is contrary to all of their planning, they can accept the information, modify their plans, and continue moving forward. They are always open to new ideas and insights.
Learn What You Need to Know
The second military principle you can use is the Principle of Intelligence. This principle of intelligence means simply, "get the facts!"
The most important thing in business decision making is for you to get accurate information. Facts don't lie. It is important that you get the real facts, not the assumed facts or the apparent facts or the obvious facts, or the hoped for facts, but the real, provable facts.
Make Better Decisions
Perhaps the key job of the executive is decision making. The quality of the decisions that you make will be in direct proportion to the amount of time that you take to gather timely and accurate information. The very best thing that you can do, if you have insufficient information, is to delay making a decision at all.
Invest Your Resources Wisely
The third military principle applied to strategic planning is the Principle of Economy of Force. Economy of force means that you expend only the resources necessary to achieve the objective and not more. It also means that you commit sufficient resources to achieve the objective once you have decided upon it.
Since your own personal en ergy is all you really have to invest over the course of your lif etime, the military principle of economy says that you should be very selfish when deciding how you are going to use your self. Keep asking your self, "How important is this?" and more important, "How important is this to me?"
Action Ex ercises
Here are two ideas that you can apply immediately to be more strategic in your work and personal life.
First, remain flexible when you are working towards your goal. In times of rap id change, all of your best ideas can be contradicted by new information. Be willing to try different things. Be open to new inputs and ideas.
Second, get the facts! The more and better information you can acquire before you make a decision, the better your decision will be. The very best managers spend a good amount of time getting the real, provable facts before they take action.
Written by Brian Tracy and trained by Mark Garbelotto
Build Long-Term Relationships
Full 85 percent of the happiness and success you enjoy in life will be determined by the quality of your relationships with others. All of your selling success today, and for the rest of your career, will be based on the quality of the relationships that you form with your customers. Because of the complexity of your product or service, customers are usually unable to make an accurate judgment of the details of what you are selling. Instead, they have to depend upon how they feel about you and your claims. For most customers today, the relationship comes first. It is more important then the product or service itself.
Relationship Selling Model
The building and maintaining of high-quality sales relationships proceeds in four stages. We call this the Relationship Selling Model.
Stage One
The first stage, roughly 40 percent of the sale, is the development of trust. This is best achieved by asking good questions and listening closely to answers. In fact, a recent survey of members of the Purchasing Managers Association of America (PMAA) concluded that the salespeople these professional buyers rated "the best" were the people who asked the most questions before attempting to sell.
Stage Two
The second stage of building high-quality sales relationships, 30 percent of the process, is focusing on identifying the true needs and wants of the prospect.
Instead of talking about what you are selling, you ask questions about the prospect and his or her situation. You probe the answers you get and, as Stephen Covey says, "See first to understand, then to be understood."
Once you have built a high level of trust by asking questions and seeking to understand how your product or service can help the prospect in some way, you move to stage three.
Stage Three
20 percent of the relationship between you and your customer is presenting solutions. In this stage, you show the prospect how he or she could be better off with what you are selling than he or she is today. You carefully match the prospect's expressed needs with the specific features and benefits of your product or service.
Stage Four
In phase four, the final 10 percent of the Relationship Selling Model, you ask for confirmation from the prospect to make a decision and take action on your offering. You close the sale.
The relationship selling model is based on trust. You develop trust by asking the customer about his or her needs and then by listening intently to the answers. The more you ask good questions and listen carefully to the customer, the more the customer will trust you and open up to you. When the customer trusts you enough, he or she will tell you everything you need to know to9 either make a sale or to determine that this customer is not a good prospect for what you are selling.
Action Exercise
Focus first and foremost on the prospect and the relationship–before anything else. Concentrate on building a high level of trust. Only when you have built a bridge of understanding of the prospect's real needs should you start talking about what you are selling. When the relationship is strong, the sale will take care of itself.
Written by Brian Tracy and trained by Mark Garbelotto
The Endgame to Selling…
In golf, there is a saying that, "You drive for show, but you putt for dough." In selling, you prospect and present for show, but you overcome customer skepticism and gain commitment for dough. Your ability to answer objections and get the sale is the true test of how good you really are as a salesperson.
The True Test of Selling
This is perhaps the most stressful and challenging part of the sales process. It's where the rubber meets the road. It is your ability to answer the questions that the prospect puts to you and overcome his natural reluctance to make a commitment that wraps up the sales process. It is also the part of the sales process that salespeople dislike the most and which customers find the most stressful.
Plan It in Advance
The end game of selling must be carefully thought through and planned in advance so that you are thoroughly prepared to bring the sales conversation to its natural conclusion at the earliest and most appropriate moment. Fortunately, this is a skill, like riding a bicycle or typing with a typewriter, and you can learn it through study and practice.
Handling Objections Comes First
Handling objections and closing the sale are two different parts of the sales process but they are so close together that this chapter will discuss them as a single function. Just as there are reasons why people buy a product, there are reasons why they don't. Often answering an objection or removing an obstacle is the critical element in making the sale. You can answer the objection and close the sale simultaneously.
Make It a Reason to Buy
Objections can be turned into reasons for buying. Just as there is a primary reason for buying a product, a hot button, there is a primary objection that stops the person from buying it. If you can emphasize the one and remove the other, the sale falls together naturally.
Smaller Products Versus Larger Products
In selling smaller products or services, where you can prospect and make a complete presentation in the first meeting, your approach to closing will be different from that required if you are selling a larger product in a multi-call sale that stretches over several weeks or months.
Ask For the Order
In the shorter, smaller sale, the prospect knows everything necessary to make a buying decision at the end of your presentation. Your aim should be to answer any lingering questions and then ask for the order. In the larger sale, you may have to meet with the prospect several times before the prospect is in a position to make a buying decision. You will have to be more patient and persistent.
Action Exercises
Here are two things you can do immediately to put these ideas into action.
First, prepare yourself in advance for the endgame of selling by anticipating anything the customer might offer as a reason for not buying. Be ready.
Second, look for the hot button, the reason the customer will buy, and press it. Meanwhile, find out his major reason for not buying and remove it.
Written by Brian Tracy and trained by Mark Garbelotto – Australia’s #1 Corporate Sales Trainer
Time Management Techniques for Salespeople
Time Management Techniques for Salespeople
In 1928, the magazine Sales and Marketing Management surveyed American Businesses to determine how efficiently salespeople were using their time. They discovered that the average salesperson in America was only working 20 percent of the time, approximately one and one-half hours per day. This finding caused bells to go off throughout the sales industry. The idea that salespeople were only working ninety minutes per day became the emphasis for improved training, better time management skills, better supervision, and better control of the activities of salespeople.
Double Your Sales
In my sales programs, I teach what I call my minutes theory. It is based on a simple equation. If you are in sales today, 100 percent of your sales and your income are generated by the number of minutes hat you spend face-to-face with prospects and customers. If you want to increase the number of sales or the amount of money you make, you must increase the number of minutes that you spend in actual selling activity, face-to-face with people who can, and will, buy from you. My theory says that if you double the number of minutes that if you spend with customers, you will double your income, even if you do not improve in any other area of sales. If you manage your time as the top salespeople do, so that you are spending more time with customers, your sales will increase immediately.
The Job of the Salesperson
Let us begin with the job description of the salesperson. The job description of the salesperson is to create and keep customers. The measure of effectiveness of a salesperson is how many new customers she creates, or resales she generates, in any given time period. Everything else that salesperson does is secondary to creating and keeping customers. Therefore, the only time a sales person is working is when he is face-to-face, head-to-head, and knee-to-knee with a prospect or customer.
Begin with Clear Income and Sales Goals
Achieving Peak Performance and excellent time management in sales begins with your setting clear income and sales goals for yourself. The act of sitting down and deciding, in writing, how much you want to earn, and how you are going to go about earning it, makes it far more likely that you will achieve those goals than if you didn't set them at all. The goal-setting exercise I am about to share with you has led to the doubling and tripling of the incomes of many salespeople. It is powerful because it is simple and easy. You can learn it and apply it immediately.
Determine What You Will Have to Do
Once you have broken your income and sales goals down into monthly, weekly, daily, and hourly amounts, you then define these goals in terms of the activities necessary to achieve them. The critical element in this calculation is the factor of control. You cannot control your income or your sales on a day-to-day basis. They depend on too many other factors. But you can control your activities. You can determine and control what you do from morning to night, and as a result, you can indirectly control your income. If you engage in the activities necessary to make sales you want to make, you will inevitably achieve your sales goals.
Get Better at What You Do
Once you have determined your sales goals and worked out an activity schedule for each day, you immediately go to work on yourself to upgrade your skills in your key result areas. One of the best uses of your time is to get better at the most important things you do. Your goal is to upgrade your skills so that you achieve more and better results in a shorter period of time.
Action Exercise
Take charge of your sales career today; resolve to double the amount of time you spend face-to-face with prospects and customers.
Written by Brian Tracy and trained by Mark Garbelotto
Sales and Marketing Profitability
Do you know the return on your sales and marketing expenditures? It is not unusual for companies to spend 25 to 35 percent of their revenues on sales and marketing, yet often they don't know the actual return on these initiatives. Before adopting a new marketing initiative, determine how you will measure, not only its impact on sales, but on profits as well. What is an acceptable rate of return? How will you measure the return? Establish a monitoring system whereby you can gauge the efficacy of the program throughout its implementation.
Product Profitability
Every product yields a specific profit of a specific amount. When you offer more than one product, each will have its own profit margin. One of the most important things you can do is to determine the return on the investment you have put into each of your products.
Marathon and Associates
Marathon and Associates, a niche consulting firm, receives enormous fees from Fortune 1000 companies to determine the exact cost of each of their products. This enables their clients to make product-offering decisions based on the profitability of each product, rather than simply relying on gross revenue figures. In today's highly competitive business climate, such an approach is critical in ensuring their overall profitability and even their survival. This is no less true of your own business or organization. Eliminating just one losing product can make the difference between robust growth and mediocre performance or even the demise of your business.
Product Mix
Examine your own product mix. In addition to the normal “cost of goods,” you must include all expense incurred in delivering the finished product to the consumer, including research and development, promotion, associated sales and marketing costs, installation, customer service, product service, returns, proportionate share of general and administrative costs (overhead), and so on. Again, be sure to include the cost of your own time; apply your hourly rate to the amount of time you invest in the development, design, creation/manufacture, sale, and servicing of each product.
Break Down Costs Accurately
Many individuals and businesses lump all their expenses together and then guess at how much is attributable to each product. Your job is to break down so accurately that you know within a few dollars exactly how much you net from the sale of each product. When you have completed your costing analysis, simply deduct the actual cost of developing, selling, and delivering each product from the price to determine its profitability. Which products yield the highest return? The lowest? Do any actually lose money?
Market Profitability
If you sell into more than one market, the same principle applies. Some markets will be more profitable than others. When dealing in foreign markets, for example, you may incur much higher advertising and marketing costs. Conversely, your manufacturing costs might be significantly lower. If you export your products into foreign countries, import duties or tariffs may apply. At times, unexpected costs in dealing in new markets may make the difference between a profitable venture and a financial disaster.
Action Exercise
Identify your most and your least profitable/productive tasks and activities.
Written by Brian Tracy and Trained by Mark Garbelotto
The Invitational Close
The Invitational Close is simple, low-key, classy and powerful. You use it at the end of a sales conversation to conclude the transaction. It is preceded by a Trial Close such as: "Mr. Prospect, do you have any questions or concerns that I haven't covered up to now?" Or, "Mr. Prospect, does this make sense to you, so far?"
Probe for Lingering Objections
You ask these questions to be doubly sure that the prospect has no final objections lurking in the back of his mind that would block the closing of the sales process. You then invite the customer to make a buying decision by saying, "If you like what I've shown you, why don't you give it a try?"
Invite the Customer to Buy
Inviting the customer to buy is very powerful. This is a gentle way of nudging the customer into taking action. "Why don't you give it a try?" If you are selling services, you can ask, "Why don't you give us a try?" If you want to be more bold and direct, you can simply ask, "Why don't you take it?"
Change Your Wording
One of my seminar graduates doubled his sales by changing his words in the endgame of selling. After his sales presentation he would ask the prospect if he had any additional questions or concerns. If the prospect said "no," he would then ask, "Well, if you like it, why don't you take it?"
He was amazed to find that many prospects could not think of a good reason not to go ahead with his offering immediately. Both his closing ratio and his income soared.
Action Exercises
Here is something you can do immediately to put these ideas into action.
The next time you complete your sales presentation, simply issue an invitation to the customer to make a decision. "Why don't you give it a try?"
You may be surprised at your success.
Written by Brian Tracy and trained by Mark Garbelotto
Listening Wins Sales
There are books, articles and multi-day courses on listening. There are audio/video-learning programs that include hours of instruction and a variety of exercises. They are all valuable and helpful, but what they teach can be distilled down into a key skill. Your mastery of these skills, through discipline and practice, is all you need to become an excellent listener, with all that that entails.
Listen Attentively When Others Speak
The best listening skill is to listen attentively. Lean forward; face the prospect directly rather than at an angle. Focus your attention on the prospects face, on his or her mouth and eyes.
Hang On Every Word
Listen without interruption. Listen as though you were hanging on every word the prospect was saying. Listen as if the prospects were about to give you the winning lottery number and you would only hear it once. Listen as if this were a million dollar prospect who was just on the verge of giving you a major order. Listen as if there were no one else in the world to whom you would rather listen at this moment than this prospect, and to what this prospect is saying.
The Most Important Skill of All
The ability to pay close, uninterrupted attention to a person when he is speaking is the primary listening skill. It is the hardest facility to develop and is simultaneously the most important of all. It requires continuous practice and discipline. And it's not easy. It is hard to keep your thoughts from wandering, but the payoff is tremendous.
Action Exercises
Here are two things you can do immediately to put these ideas into action.
First, imagine that your customer is the most fascinating person in the world. Hang on every word as if he was about to place a million dollar order.
Lastly, lean forward when your customer speaks. Nod, smile, agree and be both active and involved. Listening builds sales relationships.
By: Brian Tracy
Partnering For Profit
The way you can stand out from your competitors is for you to position your self as a business part ner, always looking for ways to improve your customer's business.
Help Your Customer's Business
When you deal with a business person, you can be sure of one thing: that person thinks about his business day and night. It is very close to him. It is dear to his heart. And if you come in and talk to him and ask him questions about his business, looking for ways to help him run his business better, the customer is going to warm up to you and want to be associated with you and your company.
Differentiate Your self from Your Competitors
As a part ner, you should always be looking to help your customer to cut costs and improve results in his or her area of resp onsibility. You should look for ways to help your customer in non-business areas as well. You should position your self as someone who cares more about the success of your customer than anything else, even more than you care about selling your product or service. This approach to partnering in profit with your customer is a key way to differentiate your self and to keep your customer for the indefinite future.
Practice the Reciprocity Principle
There is a principle of reciprocity in business that is very powerful. It is simply this: If you do something nice for someone else, they will feel obligated to do something nice for you. You should be looking for opportunities to go the extra mile, to do more than you are p aid for, to put in more than you take out. By extending your self, you improve your positioning in the customer's mind and increasingly differentiate your self and your company from your competitors who are after the same business. If you do this long enough and strong enough, you will eventually develop the partnership to the point where your competitors don't have a chance against you.
Action Ex ercises
Here are two things you can do immediately to put these ideas into action.
First, think about how you can help your customer's customer with your product or service. Take time to understand how your customer uses your product to do his business better.
Second, focus on increasing your customer's profits and fin ancial results. Show your customer that doing business with you is both satisfying and profit able in the long run.
By Brian Tracy
Attention Employed Sales Professionals
Did you know that your employer may be eligible to receive $4000 per sales person in Commonwealth incentive traineeships to up skill employed sales professionals.
This means that if you or any of your sales team does not have a national accredited qualification in sales your company may be eligible to receive $4000 per person to attend our sales training. We are running the national accredited SIR30307 Certificate III in wholesales training workshop on the 26th and 27th of August 2010.
If you would like to know more about this please feel free to call me directly on 1300 795 129.
Kind regards
Mark Garbelotto
