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Will You Add? - Sales Management - How to Stop Wasting Expensive Technical Resources
Ever had that perfect life when everything seems perfect yet you wanna die. I am in the situation where I have the perfect imperfect world. I have a daughter which might not be mine after 6 years of believing she is, I have a girlfriend who is so imperfect she is perfect for me. A son well he is only 8 months old and he seems to be the only perfect balance at the moment.My girlfriend doesnt know what she wants in life and with the internet at my finger tips it doesn't help me much why cause its not perfect. I discovered many mon
Armed with this information, you will be prepared to make CONSCIOUS resource allocation decisions.
This will enable you to focus your expensive technical resources on QUALI
Too many people are trying to start their home businesses with an ordinary employee's way of thinking. This has become a common reason why not long after sitting down and giving it a fair look into even the most lucrative business opportunity they bump into, they put it away and decide not to take any chances.What has happened here is that the most lucrative business opportunity has been looked into by an ordinary 9-to-5-worker, who appears NOT to be business-minded.If you are like most people, you have probably consider
How often does this happen?
An excited salesperson contacts his or her sales manager and alerts them to a new opportunity. The sales manager assigns a technical expert to visit the prospect with the salesperson. The salesperson and the technical expert drive (or fly) to the prospect's location and spend days or weeks analyzing the prospect's situation. They perform product demonstrations and evaluations. Eventually they prepare a detailed proposal and deliver it to the prospect.
Unfortunately, the deal never closes...
The opportunity languishes in the salesperson's pipeline for many months and is eventually deleted. Even more unfortunate, all of the time and money your company invested to pursue the opportunity (salesperson and technical expert salaries, travel and entertainment expenses, product demonstration and evaluation costs, proposal preparation costs, etc.) was COMPLETELY WASTED.
If your want to minimize wasted technical resources, hold your salespeople accountable for collecting specific information PRIOR to allocating expensive technical experts to assist them with their opportunities. At minimum this should include requiring your salespeople to provide reasonably detailed answers to the following questions:
- What BUSINESS PROBLEMS does the prospect have?
- What is the IMPACT of these business problems on the prospect's business?
- Can the impact of the business problems be QUANTIFIED?
- How does the quantified impact COMPARE to the (estimated) cost of solving the business problems?
- Is this quantified impact substantial enough to justify the PROSPECT investing time and resources to pursue a sales cycle?
- Is the prospect WORTHY of time and resource investments by your company to pursue a sales cycle? For example:
- Are they CREDIT WORTHY?
- Do they have a BUDGET they can allocate to solving the business problems?
- Have all key DECISION MAKERS and INFLUENCERS been identified?
- Has the INFORMATION the decision makers need to have to enable them to make a buying decision been identified?
- Does the prospect TAKE PROPOSALS OUT TO BID? If they do, what benefit will your company receive for designing a solution?
Armed with this information, you will be prepared to make CONSCIOUS resource allocation decisions.
This will enable you to focus your expensive technical resources on QUALIF
When starting a retail business, there are two ways you can choose to do your business. You can choose to do all of your business online with a virtual store where people can look at what they want and buy it without ever having to go into a store. You can also choose to have a display (whether it be of a small portion of your products or the whole line). You can be sure that there is a great number of people who wish to see, taste or feel the products that they buy.This is where wholesaling can be of great benefit to you. Yo
Unfortunately, the deal never closes...
The opportunity languishes in the salesperson's pipeline for many months and is eventually deleted. Even more unfortunate, all of the time and money your company invested to pursue the opportunity (salesperson and technical expert salaries, travel and entertainment expenses, product demonstration and evaluation costs, proposal preparation costs, etc.) was COMPLETELY WASTED.
If your want to minimize wasted technical resources, hold your salespeople accountable for collecting specific information PRIOR to allocating expensive technical experts to assist them with their opportunities. At minimum this should include requiring your salespeople to provide reasonably detailed answers to the following questions:
- What BUSINESS PROBLEMS does the prospect have?
- What is the IMPACT of these business problems on the prospect's business?
- Can the impact of the business problems be QUANTIFIED?
- How does the quantified impact COMPARE to the (estimated) cost of solving the business problems?
- Is this quantified impact substantial enough to justify the PROSPECT investing time and resources to pursue a sales cycle?
- Is the prospect WORTHY of time and resource investments by your company to pursue a sales cycle? For example:
- Are they CREDIT WORTHY?
- Do they have a BUDGET they can allocate to solving the business problems?
- Have all key DECISION MAKERS and INFLUENCERS been identified?
- Has the INFORMATION the decision makers need to have to enable them to make a buying decision been identified?
- Does the prospect TAKE PROPOSALS OUT TO BID? If they do, what benefit will your company receive for designing a solution?
Armed with this information, you will be prepared to make CONSCIOUS resource allocation decisions.
This will enable you to focus your expensive technical resources on QUALI
As we study the demographic regional variations for small service businesses we see many things. Let us take a mobile auto detailing business and break down the data and look at what drives sales and growth. We must search for areas with similar demographics in any new territory whether we are putting in one unit of one single unit owner operator or many units to blanket a region. Proper data mapping helps and if done right it eliminates risks and saves lots of time, not to mention hard earned marketing dollars. We are talking about v
If your want to minimize wasted technical resources, hold your salespeople accountable for collecting specific information PRIOR to allocating expensive technical experts to assist them with their opportunities. At minimum this should include requiring your salespeople to provide reasonably detailed answers to the following questions:
- What BUSINESS PROBLEMS does the prospect have?
- What is the IMPACT of these business problems on the prospect's business?
- Can the impact of the business problems be QUANTIFIED?
- How does the quantified impact COMPARE to the (estimated) cost of solving the business problems?
- Is this quantified impact substantial enough to justify the PROSPECT investing time and resources to pursue a sales cycle?
- Is the prospect WORTHY of time and resource investments by your company to pursue a sales cycle? For example:
- Are they CREDIT WORTHY?
- Do they have a BUDGET they can allocate to solving the business problems?
- Have all key DECISION MAKERS and INFLUENCERS been identified?
- Has the INFORMATION the decision makers need to have to enable them to make a buying decision been identified?
- Does the prospect TAKE PROPOSALS OUT TO BID? If they do, what benefit will your company receive for designing a solution?
Armed with this information, you will be prepared to make CONSCIOUS resource allocation decisions.
This will enable you to focus your expensive technical resources on QUALI
As of 2004 the furniture industry in Canada employed some 92,810 persons, more than 44% higher than 10 years ago, but almost unchanged since the beginning of this century. The improvement from its 1993 recession low of just 59,559 is truly remarkable. In other words furniture industry employment has exhibited much resiliency, especially considering the impacts the industry faced since the early 1980s from Canada’s free trade agreement. The more recent employment decline is a reflection of the industry’s slowdown due to the strengthenin
- Are they CREDIT WORTHY?
- Do they have a BUDGET they can allocate to solving the business problems?
- Have all key DECISION MAKERS and INFLUENCERS been identified?
- Has the INFORMATION the decision makers need to have to enable them to make a buying decision been identified?
- Does the prospect TAKE PROPOSALS OUT TO BID? If they do, what benefit will your company receive for designing a solution?
Armed with this information, you will be prepared to make CONSCIOUS resource allocation decisions.
This will enable you to focus your expensive technical resources on QUALI
“If I had to select one quality, one personal characteristic that I regard as being most highly correlated with success, whatever the field, I would pick the trait of persistence. Determination. The will to endure to the end, to get knocked down 70 times and get up off the floor, saying, “Here comes number 71!”—Richard M. DeVosThis is the story of two fishermen, Frank and Joe.Frank loves fishing. He goes fishing every day. He’s always trying new fishing spots. Sometimes he catches a lot of fish and sometimes
Armed with this information, you will be prepared to make CONSCIOUS resource allocation decisions.
This will enable you to focus your expensive technical resources on QUALIFIED opportunities, maximizing your company's return on time and resources invested. Plus, rather than acting as a crutch to help your salespeople perform initial opportunity qualification, your technical experts will be able to focus on working with prospect companies' technical experts to troubleshoot business problems, determine root causes, and identify potential solutions.
Other benefits can include reduced product and service training costs and increased size and quality of your company's sales opportunity pipeline.
How? If your salespeople become experts in FINDING and QUALIFYING opportunities, as well as LEVERAGING EXPERT RESOURCES to help them convert opportunities into sales, it will take less time for them to learn what they need to know to prospect effectively. Plus, if they focus the bulk of their time on finding and qualifying opportunities, they will source more qualified opportunities!
In summary, if your want to maximize your company's return on technical resource investments, hold your salespeople ACCOUNTABLE for collecting specific information PRIOR to allocating expensive technical experts to assist them with opportunities. Then, make CONSCIOUS technical resource allocation decisions. You should see immediate and significant improvements in your sales expense and sales opportunity close rates!
Copyright 2005 -- Alan Rigg
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