The Center for Sales Strategy Blog

A friend of mine was recently complaining about a computer vendor that had failed to deliver on some training that was promised as part of a major purchase. Oh, the training was conducted… it just wasn’t effective (at least, in the buyer’s opinion). For weeks after the equipment was deployed, “People were still spinning their wheels, trying to figure out the new system,” he explained.

On a recent business flight, I happened to engage a fellow passenger in conversation. His business was selling steel to manufacturers who make things (almost anything) with steel components.

Let me create the scene: you’re meeting with your new prospect for the first time, and your goal is to build rapport and begin a needs analysis that will build your credibility as an expert in your field, and as someone who really cares about their business. You want your prospect to believe you’re someone who can truly help them solve their complex business problems. To accomplish this, you intend to metaphorically put yourself behind your client’s desk to uncover key challenges and prime opportunities their business is facing so that you may become their partner and work with them to create customized solutions. You’re completely prepared for the meeting and you know exactly how you’re going to lead the meeting. You sit down, exchange pleasantries and your prospect says… “Let’s just cut to the chase. Tell me… how much is this going to cost?” 

Who is worth your new business development time? Not every new business prospect is. Here are 6 things to consider when selecting a new business prospect:

More price-sensitivity. Greater demand for “value added.” Remarkable scrutiny when it comes to determining “return on investment.” Why are clients so demanding, all of a sudden?!

When cash from new business prospects starts to flow, business problems almost magically disappear. Here are five simple steps that will modify your sales strategy and jump start your new business machine:

Recently, I was working with a client that was facing a tremendous problem. It was much more serious than the possibility of losing one of their biggest accounts. Due to some new legislation, they were on the verge of potentially losing an entire category of customers. Briefly, there was a period of shock… as if the sales manager and his team had suffered a traumatic (economic) injury. But then, very quickly, the group shifted into survival mode. Who knows where it came from—perhaps desperation, perhaps adrenaline—but the co-workers, led by their manager, started reviewing their capabilities and resources, and investigating where they might find pockets of revenue to replace the money that could soon vanish.

In most areas of life, we are faced with the choice of the Pain of Discipline vs. the Pain of Regret. If you exercise regularly, you are choosing the Pain of Discipline over the Pain of Regret. If you make mostly good food choices you are choosing the Pain of Discipline over the Pain of Regret.

Recently, a gentleman asked me to introduce him to someone inside our company in charge of buying the products he happens to sell. I was a little hesitant, at first. After all, providing that referral would be like giving the guy my stamp of approval; if he did anything unprofessional, it might reflect poorly on me among my colleagues.

Last week I attended a client’s annual leadership conference where I had the opportunity to see a keynote presentation from Tim Sanders, former Chief Solutions Officer at Yahoo, and author of the bestselling book Love is the Killer App. Tim did a great job articulating the importance of why talent is the key to everything. He also spent some time talking to the audience about email at work and how it is currently the #2 cause of stress in the workplace (#1 is change). Tim mentioned that he has the Dirty Dozen Rules of Email Etiquette and shared a few of them with us.