Grow Your Training Business

Quick Tip #40 - Stay Sharp

Stay Sharp. It is easy to get down when selling in a bad economy so don’t let that happen to you. There may be fewer opportunities but you can crush the competition by using superior sales strategies and prospecting skills.  So, stay sharp and stay motivated. Also remember how important polished sales skills are when selling in a bad economy.

Now is the time to take control and take action. You can’t generate sales success with poor or outdated sales skills in his economy. However, you can change everything for the better with effective and low cost sales training programs.

Quick Tip #39 - Play Offense

Play Offense. If I were using your product or service, would I be more productive and therefore in a position to make more money? If so, that’s how you must position your product when selling in a bad economy. Companies, during a bad economy, must find ways to increase productivity and make more money. But remember to do a little extra work and calculate how much extra money will be generated by your prospect. If you are not familiar with calculating return on investments, I again urge you to get some professional sales skills.

If I use your product, will I save money because you cost less than the product I’m using now? If so, you are in great shape! Position your product as a “cost saver” and attack your competition. But once again, you have to do a little extra work and calculate the savings for your prospect. Failure to do so could cost you the order and you can’t afford for that to happen when selling in a bad economy. Remember to use this sales strategy.

Quick Tip #38 - Get Savvy

Get Savvy. My most important piece of advice to anyone selling in a bad economy is to get savvy. You need to start using world-class sales skills because that’s the only way to survive when selling in a bad economy. Competition heats up when there are few opportunities available. The salesperson with the best sales skills will win most often. This is no time to get sloppy or to “wing it”. This is the time to professionally follow each and every step of the sales process. When selling in a bad economy, only the fit will survive. If you are not comfortable with your sales skills or unsure about the steps in the sales process, I urge you to immediately get some powerful sales training.

Quick Tip #41 - Battle for a Bigger Piece of the (Shrinking) Pie

In order to maintain your business during an economic downturn, you are going to have to find a way to gain a bigger share of the shrinking market. And of course you will have to do this while many of your competitors are trying to do exactly the same thing.  Some business leaders try to convince themselves that it’s enough to just maintain their market share.

Recently a vice president for a commercial printing company said to me “Our industry is shrinking by 30%, but we are only down 12% so I think we are doing pretty well.” Not surprisingly, when I asked this woman about her overall competitive strategy and what she was doing specifically to grow her business, the answer was less than robust. She wasn’t playing to win; she was playing to tie. As we talked, I recalled a conversation I had a few weeks earlier with one of her competitors. He was a VP of sales as well, but when we discussed his competitive strategy the conversation took more than an hour. He had a detailed, multi-pronged plan to take business away from specific competitors. And not surprisingly, his sales were up by 8%.

In a shrinking market, you are either battling aggressively to gain share, or you are passively letting someone else take a big bite out of your (shrinking) pie.

Quick Tip #37 - Get Defensive

Get Defensive. Your competition is also having a difficult time selling in a bad economy. You must assume that they are going after your customers each and every day. You must get defensive and protect your customer base. When appropriate, consider selling long-term contracts and converting present contracts to longer terms. This may reduce margins but that’s a small price to pay for protecting your base of customers. This is a smart sales strategy when selling in a bad economy so remember to stay focused on your customer base.

Quick Tip #36 - It Is Going to Take MORE...

First let me be clear, there are people out there wanting to buy. That being said let me be equally as clear, it will take much more effort to find them. Depending on your vertical market this could be the equivalent of find a needle in a haystack. Nevertheless… Sales executives and their managers will need to be creative to bring your product or service to those still buying. The economy does bring one good aspect to the table: a need for VALUE. Use this negative and spin it to your favor. This may be a perfect time for your prospects to switch to your product because it’s a better value for them. In this economy it is important to strengthen those relationships with your prospects and clients so that they carry you through these tough times.

QuickTip #35 - Save Them Time or Make Them Money

Let's remember why companies purchase goods and services in the FIRST place....to either SAVE THEM or MAKE THEM ($) money.  Most products and services - when cost justified using a legitimate ROI ~ can show these companies how to save money and/or make money in any type of economy.  If for example work force reduction is the issue (remember things still have to get done).  Can your product and/or service support the "gap" in productivity or the length of time to market companies will may face with a workforce reduction?

Quick Tip #34 - Network, Network, Network.

Network, Network, Network.  In addition to being a source of additional revenue, your current customers are your best source of new business, especially in a downturn.  Pick up the phone, call your best customers, and ask them to refer you to one or two people in their own business network.  Beyond that, every week attend a minimum of one face-to-face networking event (e.g. seminar, conference, meet-and-greet). “You never know who you’ll discover and what you’ll learn,” says Joanne Black, author of the bestseller No More Cold Calling (Business Plus, 2006).

Quick Tip #33 - Give Your Customers a Better Break

Give Your Customers a Better Break.  Just like you, your customers are struggling to make ends meet.  The last thing you want is to find your contracts on the customer’s chopping block.  To prevent this, unilaterally offer to renegotiate your current contracts to make it easier for them to remain your customers.  “Helping without being asked is the best way to win long-term loyalty,” says Evans.  “They won’t forget it, and you’ll be on the top of their buy-from list when times get better.”

Quick Tip #32 - Volunteer

Volunteer to Cut Your Costs.  Rather than wait for your CFO to descend with the cost-cutting axe, figure out which sales campaigns and marketing expenses are necessary, and which can be back-burnered.  Then go to your CFO with a proposed list of cuts, and a solid business case for keeping the programs that matter.  “The CFO will be amazed that you’re being proactive when everyone else is tree-hugging,” says Ken Evans, management consultant at CP Strategy, and former vice president of sales and marketing at Waste Management, a $13 billion a year firm.

Quick Tip #31 - Focus on Current Customers

Focus on Current Customers.  It’s always more expensive and time-consuming to develop new customers than to sell to existing ones.  So rather than prospect for new leads, use multiple points of customer contact, like your call center and product support web site, to create new opportunities within your existing base. “As your pool of potential customers dwindle, you must become more efficient in how you manage your sales process,” explains Brad Wilson, general manager of Microsoft’s Dynamics CRM division.

Quick Tip #30 - Keep Your Spirits High

Keep Your Spirits High.  Nothing makes selling (or managing sales reps) more difficult than a doom-and-gloom attitude.  While you need to know what’s going on in the world, don’t waste precious enthusiasm dwelling on bad news. “Rather than listening to the radio when you’re on the road, use motivational CDs and MP3s fill your mind with inspiring ideas,” suggests Omar Periu, a motivational coach who has delivered over 5,000 seminars and trained over two million people.

Quick Tip #29 - Ask Everyone for Referrals

Ask Everyone for Referrals - I don't care if you just closed a huge deal or struck out swinging - ask that person the magic question: "who do you know, that could benefit from what I do?" It takes just a few moments, and could turn into your next big sale. So ask the question!

Sure, times are tough, but we still live in a wonderful country where we are free to pursue happiness and security in our own ways - within reason - so take advantage of that freedom. We all have a choice: Let the economy keep us down, or get out there and do things a little differently.

Quick Tip #28 - Don't Quit Too Soon

Don't Quit on a Unique Idea Too Soon - When the economy is slower, ideas sometimes need more time to take hold. Have faith, know what you are about, and stay with it. Plan each day and work your plan, holding true to your long-term goals. Be a warrior and go after your goals. Foster loyalty in your customers, it's more important to you even than their satisfaction.

Quick Tip #27 - Passion vs. Enthusiasm

Be Passionate, Not Enthusiastic - True passion comes through as genuine when delivered professionally. Enthusiasm is too easily mistaken for false salesmanship. Practice your presentations, talks and demonstrations, even if you've been doing them for years. Pay attention to your speaking habits. Most people don't know that they say "ah" or "you know" or "I was, like." over and over while selling. Nothing is more annoying to the listener! Work harder and smarter than your competition.

Quick Tip #26 - Take a Different Approach

Take a Different Approach - Be disarmingly honest! Don't look, act, sound, feel like just another salesperson, or you'll be treated like one! Treat every customer and prospect like a celebrity, like the most important person you'll meet that day. Give them value up front, and don't expect a return right away. Be creative and do things a little differently. Breakfast and lunch meetings can be very productive, getting your prospect away from distractions and letting them relax and communicate better. Have some fun with your customers and prospects!

Quick Tip #25 - Show Uncommon Empathy

Show Uncommon Empathy - Your prospects aren't interested in you, they are interested in themselves. In order to get their attention, you need to know their pains, pleasures, and fears. These are the emotions that make people buy, not "needs" or "wants". Pain, pleasure and fear are strong, passionate forces that supersede any economic climate. If you are others-oriented, you will ask the questions in a way that will extract the feelings that will enable you to be truly empathetic. Remember - it's the relationship, not the price, and relationships are long-term. Help your customers build their businesses, and they will help you.

Quick Tip #24 - Strengthen Relationships

Strengthen relationships. Most salespeople do not spend enough time thinking about the quality of the relationships that they hold with their clients. There are many aspects of your relationship with your clients and spending time strengthening and improving those relationships will encourage loyalty, openness and partnership in all markets not just tough ones.

Think about the various aspects of your relationships with individual clients (for example the awareness they have your company, how they view your business, how they view you, your personal relationship, your business conversations…) and devise a plan of action for improving and strengthening those. Start with your key target clients now.

Quick Tip #23 - Check Your Commitments

Check your commitments. Salespeople who learn to sell in easy markets cut corners. Not because they’re lazy but because they don’t know any better. Dotting the “I”s and crossing the “t”s is not so essential in booming markets because busy markets are sellers markets. Busy markets pick up the slack. Qualifying properly is still important but it is possible to succeed by doing a reasonable job rather than a perfect job.

Tough markets are not like this. In tough markets you need to check commitments. You cannot afford to be working on client opportunities where you end up giving “free consultancy” or where your client is just on a “shopping comparison trip”. The key to gaining commitments is asking the right questions and this is something that I teach in both my Close the Deal seminar and my Professional Selling Skills seminar.

Quick Tip #22 - Visit More Clients

Visit more clients! In the busy times we often neglect some of our clients. Maybe we take on a new piece of business with a client but we don’t get chance to meet them as often as we’d like (or at all!). Maybe we have existing clients that we’d like to see but we don’t have to, so we do something else instead.

In a downturn clients want reassurance that they are working with the best, that their suppliers are thriving and that their supply lines are rock solid. Take some time out to plan which clients of yours would benefit from a face to face visit, a lunch or a coffee and make that call!

Quick Tip #21 - Prospecting for New Business

Prospect! Prospect! Prospect! I’ve said it before and I’ll say it again, the lifeblood ofbuilding new business is prospecting. No matter how good a salesperson you are, prospecting is critical for your success. The more clients you call, the more chance you have of closing more sales. This is not a case of quantity or quality because quantity and quality are not mutually exclusive.

You need quantity and quality. If your conversion ratio is down, up your activity. If your existing clients are pulling in their belts, ring some more.

Quick Tip #20 - Belief is Reality

What you believe about this market is going to determine what you get. There’s plenty of negativity out there, don’t let you, your team and your business be a victim of this. What are you going to do to build, support and nurture positive beliefs about your company, sales and success?

Quick Tip #19 - Stay Positive During the Darkest Days

Stay positive, even during the darkest days. Your attitude determines your altitude. Your attitude determines your ability to access your skill. Your attitude determines your success of failure. If you don’t know that, you should go do something else instead of sales!

Many individuals and companies are starting to droop at the moment like little flowers in the sunshine. They need to give themselves a good dousing with common sense and motivation. Success in every market is totally dependent on attitude. This is even more the case in tough markets.

If you want to fail, get a negative attitude and I can pretty much guarantee you failure. Clients buy on emotion and you’ll never create emotion by going through the motions. Work on staying upbeat and positive. Clients have enough doom and gloom thrown at them from the media and their colleagues, they don’t want it from you too!

Quick Tip #18 - Leverage EVERY Opportunity

You can’t afford to miss any possible sales opportunity. Instead of just responding "fine" when someone asks how you are, add a bit of strategic business news. Chance chats can open doors to new sales when you balance your conversations with equal bits of casual banter, personal news and business data. Mention an award or special recognition you just received; name-drop a new client or project and don't forget to toot your own horn about any media placement. I was recently interviewed for an upcoming column in MORE magazine, for example, so that's one of the latest tidbits I'm sharing. Bottom line: You can leverage opportunities in lots of unlikely places, including the supermarket, in line at the airport, at a soccer game or in the orthodontist's office.