"If you don't know your numbers, you don't know your business!"
My friend (and Managing Partner at The Center for Sales Strategy), Matt Sunshine, got me into the CNBC television program, The Profit. And I am absolutely addicted to it. And I mean addicted… I might have just finished watching 6 hours of the program this weekend.
And you should be watching it, too!
Marcus Lemonis is the CEO of Camping World, and he uses his money to invest in struggling businesses that he features on his show. The stories are exciting, compelling, and full of drama! But, that's not why you should be watching the program.
Lemonis is a brilliant businessman who understands what it takes to make a successful company, and he shares his experience and expertise with his new partners each week on The Profit.
For Lemonis, every successful business must focus on three areas: People, Product, and Process. Often you'll find that a company is good at one or maybe two, but never all three. Of course, these are businesses that need his help.
So, why am I extolling the greatness of The Profit and telling you that you need to watch it? Because it will transform your business acumen. In the world of B2B sales, it all comes down to talent, training, and tactics, and by watching Lemonis, you will have a much better understanding of those areas. Whether you are an account executive or sales manager, you work with small and mid-sized businesses, and you need to know your client's business! And not just from an advertising or marketing perspective, but their entire business.
By watching Lemonis dive into these organizations and help them uncover their problems and solve them, you will increase your knowledge of what it takes to run a small business. And when you can speak like a business owner, talk to them about their business, and help them solve their problems, you will quickly elevate your level of business expertise in their eyes!
So, to be like Lemonis, you need to focus on three business areas to help your client improve their company and for you to raise your business acumen:
It all starts with people. Successful companies are managed by good people and have good people working for them. When you focus on how a business evaluates, hires, and takes care of its people, you'll quickly find that this is either an area of strength or weakness, and it could be an opportunity for you to dig deeper and help them with their business.
By focusing on a businesses efficiencies and organization, you will quickly discover what they are doing well and where they need help. Ask questions about their sales, key performance indexes, their sales cycle, and their processes. Improvements in their process offer many opportunities for you to help them stop losses, develop better systems, and increase revenue. By spending time on their process, you will have a better understanding of how you can help them improve.
If they have good people, good processes, and a bad product, you have the perfect opportunity to help them develop new ways to grow their current product lineup. By expanding product lines, target markets, or repurposing current products, you can truly help a struggling business, which is why you are there.
So as you can see, by focusing on your client or prospect's People, Processes, and Products, you can quickly be seen as more than a salesperson, but rather a business expert who can help them better understand their organization and as a resource to help them grow their business!
You can start watching Marcus Lemonis on CNBC's The Profit right now, and the new season begins on June 12th!