More and more of us in sales are finding it more and more difficult to keep our pipelines full with high quality prospects.  The slowing economy is putting a great deal of pressure on prospects-both business and individual–to think very carefully before they commit to any purchase.  Consumer confidence is down.  Unemployment is inching up.  Inflation is becoming a concern.  Both oil and the stock market are on wild rides.

Salespeople are waking up every morning wondering where they’re going to find this month’s commission check.  And although the signs of an economy that was headed for a major slowdown if not a recession have been around for almost two years, few salespeople took the time and invested the effort to prepare by learning more effective ways to find and connect with quality prospects.

The good news is it isn’t too late to change your prospecting and personal marketing strategies so they more closely match the way prospects want to be connected with and that will identify and engage more high quality prospects.  You can learn techniques that will open more doors, identify more high prospects, and generate more sales.

How?

To start, next Thursday, July 24 McCord Training is offering three one-hour tele-seminars, each deals with a separate technique of reaching quality prospects.

Never a Cold Call, Always an Introduction   1PM Central

Cold calling is a time intensive process that is frustrating for the salesperson and irritating to most prospects.  Prospects have assistants, voice mail, caller ID, and other gatekeepers in place.  Why?  Not because they want to talk to you but because they specifically DON’T want to talk to you.  Does it make sense to bang the phones trying to connect with people who you KNOW don’t want you calling?

No, it doesn’t.  And you don’t have to.  You can learn to turn those cold calls into real connection calls by learning how to gather the information you need before hand to be able to call the decision maker with real information about specific issues you know they have and must deal with.  You can turn your cold calls into referred calls that make your call a welcome, informative call that engages your prospect’s attention and gets you appointments.

The First 10 Seconds  3PM Central

If you do cold call, you have only about 10 seconds to grab your prospect’s attention.  If you can’t get their interest in 10 seconds, your call is going nowhere.  Learn 4 techniques to immediately grab and retain your prospect’s interest.  Learning to get your prospect’s interest will significantly improve your appointment setting ratio.

The PWWR Referral Generation System  5PM Central

Referrals are touted as the single best, most cost effective marketing method any salesperson has.  Yet few salespeople are successful at acquiring a large number of high quality referrals from clients.  Why?  Because what they’ve been taught about referrals doesn’t work.  They been taught to just “do a good job and ask for referrals.”  That’s about the worst advice you can get.  They’ve been taught that clients want to give referrals.  The truth is clients hate giving referrals and most salespeople know that and consequently don’t ask.  They’ve been taught getting referrals is a no brainer-just ask.  It isn’t-it requires understanding human nature and forming a process that conforms to the way clients think and respond and to their interests and goals, not the salesperson’s.

But referrals can be the most effective, highest ROI prospecting method you have.  You just can’t do it the way you’ve been taught.  Generating a large number of high quality referrals requires a disciplined, predictable, client centered process that prepares the client to give referrals, lets the client know why giving you referrals is in their best interests and that makes giving a large number of high quality referrals easy for the client.

Change your 2008 results on July 24.  Whether you want to learn how to be more effective at cold calling or you want to learn more effective prospecting methods, there’s a seminar for you.

Register for 1, 2 or all 3 seminars

Register for any individual seminar $67.00

Register for any two $114.00  and save 15% off individual registration fee

Register for all three $151.00  and save 25% off individual registration fee

Maximizing Your Price in a Soft Economy
By Mark Hunter

Establishing maximum value for your price is never easy.  In today’s volatile economy, it’s even more of a challenge.  For most companies, costs are increasing, yet the ability to pass them along to the customer is fraught with numerous roadblocks.  The customer’s response to a price increase is rarely positive, with the usual line of objections that go along with it.  In addition, there are the concerns that a competitor’s price may undercut yours or that the customer may choose to go down a different path instead of buying from you at all.  As big as these issues are, they pale in comparison to the number one roadblock to maximizing your price point:  the confidence of the salesperson.

The main reason why companies do not capitalize on their potential revenue is because their salespeople do not have the confidence to ask for and receive the highest price point.  If a salesperson is secure in what they are selling and in knowing how the customer will benefit from their products/services, then they will be confident in asking for and getting the desired price point.  The problem is that many times the salesperson lacks confidence in at least one of these areas, resulting in their inability to make their sales quota.

To rectify this problem, it’s important to examine how the salesperson first developed a lack of confidence in their ability to maximize their price points.  Generally, it stems from a sale they perceived to be lost because their price had been too high.  On the surface, their assumption probably appeared to be correct.  However, in reality, it just seemed that way because the right price-value relationship had not been established.   If the salesperson had executed a proper sales strategy that allowed both himself and the customer to see the product’s/service’s true value, this could have been avoided.  It needs to be communicated that in a B to B environment, the benefits are to both the buyer and the business they’re buying it for.  In a B to C environment, the benefits are to both the buyer and to the person(s) who will actually use the product or service.  When the salesperson and the customer understand this, it can help erase the uncertainty that the price may pose.

Let me give you two quick examples.  If a person works for a mega-global company and is buying widgets, he’d have no problem spending a little on them if he knew he was buying them from a reputable company that has experience selling to other mega-global companies.  In essence, the customer is looking for confidence and is willing to pay for it.  In a B to C situation, because the customer doesn’t want to look like a fool for their purchase, they want the salesperson to provide them with enough emotional benefit to allow them to convey to others that they made a great decision.  In both situations, an inexperienced salesperson is going to lose the sale if they don’t take the time to use questions that encourage the customer to fully express their needs.  In general, new salespeople often lose the sale shortly after they’ve stated their price.  Thus, it’s only natural for them to believe that the price was the determining factor.  However, when digging below the surface, the price was not what prevented them from closing the deal.  Rather, they lost the sale because they didn’t ask enough questions to fully establish the needs of the customer.

Top-performing salespeople ask questions that allow the customer to elaborate on their needs and then demonstrate their listening skills by asking appropriate open questions and probing deeper with great follow-up questions.  They use the information that they learn to better explain how their product or service can be beneficial to the customer.  In my 25 plus years of selling, I’ve learned that the customer’s real needs, hurts, and wants don’t often surface until you’re demonstrated genuine interest in what their thoughts and goals are.  Ironically, this means that you can throw out their initial comments, as it is rarely the need they are looking to fill.  If you expect to base your price-value relationship on what you first hear, you’ll never come close to achieving your maximum price point.

In summary, today’s economy is full of opportunities for top performing salespeople to ask really good questions that get customers talking.  This allows both the customer and the salesperson to see, feel, and understand what their true needs are.  When the salesperson can experience this across multiple customers, they will begin to develop the assurance they need to be able to confidently convey the maximum price point their company expects them to receive.

Mark Hunter, “The Sales Hunter,” helps individuals and companies identify better prospects, close more sales, and profitably build more long-term customer relationships.” Few people have the breadth of sales experience that Mark Hunter, “The Sales Hunter” has experienced.  Visit his website at www.thesaleshunter.com.

Is your pipeline anemic?

Are you finding yourself having to work harder to find and connect with quality prospects?

Is your call list getting short and you’re not sure where you’re going to find new names?

Whether you’re facing the above issues or not, aligning yourself with others who can expose you to new prospects, help set up the sale for you, and help make life more enjoyable is one of the most effective marketing methods you can employ.

Enlisting other salespeople or companies who sell to the same prospects as you to help you find and connect with quality prospects has been a staple of marketing for top producers for decades—and unsuccessfully imitated by countless others.

Why have top producers found working with other professionals for referrals to work so well while so many others have failed to capitalize on them?

I often hear salespeople and managers–and even some sales trainers–talk about seeking out ‘referral sources’ to help them find and connect with prospects.  These referral sources tend to be salespeople who are likely to deal with people or companies that would be great prospects for the salesperson and who might need or want their product or service.

These ‘referral sources’ discussions always interest me, so I’ll engage the salesperson in a conversation about their experience with them.  Typically my first question will be how much business they’ve closed through these referral sources.  A few will indicate they’ve done well with them, most indicate they’ve seen very little to no real business from their sources.

When I ask the salesperson I’m speaking with what the other salesperson gets out of making the referral, they mention that they are giving the referrer the assurance that they’ll take exceptional care of the salesperson’s client, allowing that salesperson to become more valuable to their client by becoming a trusted source of addition advice and services, or they’ll give the salesperson’s client a discount of some sort that only that salesperson’s clients get, or they’ll give the salesperson a $5 or $10 gift card to Starbucks or wherever for every successful referral–in other words, nothing of value to the referrer.

When I assert that the other person is getting nothing of value, I often get a scornful look and verbal resistance.  Some of the responses I’ve received are:

•    From a mortgage loan officer: “Their client has to have a loan and I’ll make sure their client is well taken care of and gets a great deal—and that the loan will close on time.  That’s real value to that Realtor and their client.”
•    From an insurance agent: “She doesn’t offer insurance, just securities.  Her clients need insurance and she can be assured that I won’t try to steal her clients or infringe on her business in any way and if she doesn’t help her client through me, her client is likely to see an agent that will try to steal her business.”
•    From a salesperson for an IT service company: “I often find additional needs the client has and when I do, if he (the person who referred him to the client) sells that product, I’ll send the business to him.  I’ll be a source for additional sales for him to his client.”
•    From a specialized printing salesperson: “My referral sources are also in the printing business.  Their clients will on occasion need some things done that they can’t do and that I can.  My appeal to them is that by referring the business to me, they are assured that I’ll talk up just how good they are and it keeps their client from going to another company that might be able to not only do what I do but might be able to replace them as well.”
•    From a pool builder sales rep: “I target residential remodelers who do a lot of extensive remodeling.   My company isn’t the cheapest but it is very competitively priced and if they refer their client, we’ll give their client a 10% discount.  We make them look good because their client not only gets a high quality company, but they save a lot of money too.”

In each of these cases (and these responses are the norm, not the exception), the reason given for the referral source to send them referrals is that they are doing the referral source a favor!  “I’ll talk them up,” or “I’ll close the loan on time,” or “I won’t try to steal her business,” or “I’ll make them look good.”  The worst part is these salespeople are serious when they make these statements.

Like I said, these referral sources get nothing out of the deal.  Why do they need these salespeople?  A promise of making them look good, or not trying to steal their business, or closing the loan on time is a dime a dozen.  Actually, they’re more like a penny a hundred.  There isn’t a mortgage loan officer, IT salesperson, pool builder, or printing salesperson alive that isn’t likely to make the same promise.  If you think you’re doing your referral source a favor and that is going to earn you their business, you’re in for a surprise.

The first rule in developing referral business from others is that they don’t need you.  They don’t need your promises, they don’t need you to make them look good, they don’t need you messin’ with their clients.

The second rule in developing referral business from others is they need business too.  They need referrals to quality prospects, just like you do.

The ‘secret’ the top producers have discovered when getting referrals from other salespeople and companies is to forget about ‘referral sources’ and develop referral partnerships—real partnerships where the referrals go in both directions, not jut one.

Salespeople and companies need the same thing you need—business.  If they need someone to make them look good or to help one of their clients, they have no problem finding dozens of salespeople willing to help.  What they need are reciprocal relationships where the people they refer clients to also refer prospects back to them.  They need partners, not moochers.  And if you’re not giving back in kind, that’s exactly what you are—a moocher.

Setting up Referral Partnerships

1.  Identify Your Potential Partners: Look for other salespeople or companies who deal with the same prospects as you.  Define your ideal prospect—you may have more than one ideal—and then look for others who target the same prospect.  You want to find salespeople who are already established in the market; who have the reach and reputation you wish for yourself; and whose quality of products and services match yours.

There is no need to waste time and energy on low producing salespeople as they won’t be able to feed you many prospects.  In addition, the quality and cost of your products and/or services should closely match your potential partner’s since you will be looking for the same prospect.  If your product is top of the line and expensive, don’t partner with a salesperson whose products are on the bargain end of the spectrum.  Likewise, if you are selling modestly priced products, don’t think you can partner with a premium priced company to enhance your image—their clients are more than likely not going to be interested in your company’s products.

2.  Know What You’re After: Once you’ve identified a number of potential partners, develop a plan of approach for each.  What are you looking for with each partner—joint marketing?  Maybe joint sales calls?  Simply referring clients back and forth?

Take a close look at the activities of each salesperson or company you’ve identified to get an idea of how they operate.  Do they do a lot of advertising?  Are they constantly running specials?  Are their sales materials high dollar—or maybe they don’t really use collateral material?  Are there gaps in their offerings that you can help fill?  Do they tend to sell mostly to existing customers or to new prospects?

How your proposed partner works will lead you to know what to propose to them.  If they do a great deal of advertising or direct mail, maybe a joint advertising campaign would be of interest to them.  If they work primarily with their existing client base, referring back and forth might be most appealing.  If they use a lot of high dollar collateral material, you better have material that is equally impressive.

3.  Set an Appointment with the Partner Prospect: Invite your partner prospect to lunch.  Your partnership discussion is important and shouldn’t be a viewed as a casual phone conversation.

Many of your potential partners will be men and women you either don’t know or have only met once or twice very casually.  Many will not know who you are.  Since the men and women you’ve identified as potential partners are the best in their industry in their local market, a very effective way to gain a lunch meeting is to acknowledge their success and superior reputation.  Just call them, introduce yourself, and then tell them that you know them via their reputation and the quality of their work and that you’d like to take them to lunch as you have found that it is always good practice to know top people in the business.  Most will accept—people like to be recognized for their work.  Seldom have I been turned down with this approach.  And best of all, it’s true.  I do want to know the best people in the business and they are among the best in the business in their area.

4.  Make Your Proposal: During your meeting, present your proposal.  Your proposal must focus on what the partnership will do for your potential partner, not what it will do for you.  Salespeople are people, meaning their natural interest is ‘what’s in it for me.’  If you approach the conversation from a self-centered point of view, your proposal is dead before you even begin.

If you’ve done your homework well, you should be able to relate exactly why your potential partner would be interested in working with you, what type of working relationship it would be, and what the potential results for them will be.

Since there is a very good chance your potential partner doesn’t know who you are—and possibly they know little or nothing about your company—you’ll have to be able to quickly create a relationship with them and to provide credibility for yourself and your company.  Hopefully you have mutual clients or testimonials from individuals or companies your potential partner will recognize and respect.

Don’t expect a commitment during your initial meeting.  Most often if the person is interested, they’ll need time to do some due diligence, as well as additional discussions to develop the model for the partnership.

5.  The Monkey is on Your Back: The partnership was your idea, not theirs.  That means you’ll have to do the work to get the partnership going.  Even if you gain agreement from your potential partner, they won’t be committed until they see results.  You’ll have to take the lead in getting the partnership moving—and most importantly, you’ll have to provide them with real leads, referrals, and potential business before you can expect them to begin feeding you leads and referrals.

If you’re just looking for free, easy business, don’t bother with a partnership because it won’t do you any good.  However, if you’re willing to invest the time and effort, focusing on creating partnerships with the top salespeople and companies in your area that work with your prime prospects can bring in business you would have had a very difficult if not impossible time reaching.

Partnerships are great door openers and business builders.  But they aren’t magical.  They take work.  They take time and effort.  And most of all, they require you to do what you say you’re going to do—be a source of new business for your partner, just as they are expected to be a source of new business for you.

It can be dangerous having a marketing book reviewed by someone from the Sales side—we tend to view things from the sales perspective which is often at odds with Marketing. And that ‘at odds’ happens to be exactly what The Profit Maximization Paradox: Cracking the Marketing/Sales Alignment Code (BOOKSURGE Publishing) by Glen S Petersen is about—more specifically, how to turn that ‘at odds’ into cooperation and a coordinated plan that benefits marketing, sales, and most importantly, the company and its customers.

The Profit Maximization Paradox is another in a long line of books that address the divide between Sales and Marketing and seeks to establish a format for bringing the two departments together. A short, easy to read book, The Profit Maximization Paradox isn’t a step-by-step guide. Instead Petersen reviews the problem and tries to point out in more general terms where the solution to the problem lies.

In chapter 5, Marketing/Sales Disconnects, Petersen quotes some anonymous commenters on the disconnect between the departments, one of which pinpoints, from a sales perspective, the issue succinctly:

“Marketing believes the sales force is myopic, i.e., too focused on individual customer experiences, insufficiently aware of the larger market and blind to the future.”

There’s the rub—the two functions have a vastly different view of the world. Marketing addresses the market from a macro point of view while Sales must view the market from a micro point of view. The above quote by a marketing person illustrates the disconnect in stark terms—Marketing expects Sales to view the world from Marketing’s perspective, not from the real world of sales.

The reality of sales is that salespeople don’t have the luxury of taking a broad view of the marketplace. Salespeople don’t deal with the ‘market;” they deal with a prospect, an individual human being with specific needs, wants, and issues. Their job isn’t to appeal to an idealized prospect with the general characteristics of X, Y, and Z. No, they must deal with a flesh and blood prospect that may or may not conform to Marketing’s conception of what a prospect should be.

On the other hand, Sales tends to view Marketing as theoretical and out of touch, a pestering gnat to be swatted away, not an ally to help identify and close sales. Marketing, for many in sales, are the uppity know it alls who couldn’t close a sale if the prospect literally took the paperwork from them, filled it out and handed them a check.

Compounding the issues between Sales and Marketing is the way each department is compensated. Marketing is compensated by salary and bonus—a longer-term strategy, while Sales is compensated by commission, a very short-term strategy.

Petersen argues that with very different perspectives and objectives, it is unrealistic to expect Marketing and Sales to come together to solve the divide. According to Petersen, “it is unlikely that the VPs of Marketing and Sales are going to unilaterally decide to abandon current behaviors in favor of new roles and accountability that will undoubtedly change existing budget allocations and headcount.”

So, are the two departments left forever to their own devices, feuding and wasting resources and opportunities at the expense of the greater good of the company?

Petersen not only doesn’t believe that an option, he believes there is a real solution to the issue—one that can only be resolved through the intervention of the CEO. Trying to patch up the differences between the departments will accomplish little, if anything. What is needed isn’t a truce or even a little more cooperation between the departments, but a radical change in the business model that can only be accomplished through the leadership of the CEO.

The change that Petersen sees is a process that “starts with the customer and progressively creates a number of perspectives that help the organization to rally around a specific strategy and tactics. The organizational driver becomes the profitable delivery of customer value.”

The Profit Maximization Paradox isn’t the final word in the struggle to bring about a real working relationship between Sales and Marketing. But it can be a beginning. Petersen is certainly right that past attempts have failed, that the perspectives of the two departments are so divergent that left on their own they will not—cannot—come together. With that in mind, a higher authority must take the reigns. Mandating change won’t work—but very possibly a new vision, a new focus that encompasses and coordinates each department—and the rest of the organization as well–might.

McCord Training has just release a new White Paper titled “Why Your Company’s Sales Training is Ineffective.”  The paper outlines why traditional forms of mass sales training has little positive impact on sales performance-and serious negative impact on the sales department’s budget, and then discusses how companies can maximize their training dollars while increasing the production and effectiveness of each individual member of their sales team.

“Why Your Company’s Sales Training is Ineffective” joins McCord Training’s two other White Papers, “Retraining Sales Managers: The Changing Role of Sales Management” and “Effective Sales Penetration of Markets: Finding and Connecting with Prospects.”

White Papers are offered free of charge to any company by simply filling out a short form HERE and selecting the paper you wish to receive.  Although the papers offer both identification of issues and recommended solutions, they are naturally meant to generate interest in McCord Training’s training and consulting products and services, so if you request a paper, understand you will receive a follow-up sales call.

Does Your Customer Trust You? The Acid Test
By Charle H. Green

The acid test Most salespeople will agree—there is no stronger sales driver than a customer’s trust in the salesperson. Further, the most successful route to being trusted is to be trustworthy—worthy of trust. Faking trust is not easy—and the consequences of failing at it are large.

But is it possible to know if your client does trust you? Is there one predictor of client trust? Is there a single factor that amounts to an acid test of trust in selling?

I think there is. It’s contained in one single question. A “yes” answer will strongly suggest your customers trust you. A “no” answer will virtually guarantee they don’t.

The Acid Test of Trust in Selling
The question is this:

Have you ever recommended a competitor to one of your better clients?

If the answer is “yes”—subject to the caveats below—then you have demonstrably put your customer’s short-term interests ahead of your own. This indicates low self-orientation and a long-term perspective on your part (I’m assuming sincerity), and is a good indicator of trustworthiness.

If you have never, ever, recommended a competitor to a good client, then either your product is always better than the competition for every customer in every situation (puh-leeze), or—far more likely—you always shade your answers to suit your own advantage. Which says you always put your interests ahead of your customers’. Which says, frankly, you can’t be trusted.

Here are the caveats: don’t count “yes” answers if:

a. The client was trivially important to you
b. You were going to lose the client anyway
c. You don’t have a viable service offering in the category
d. You figured the competitor’s offering was terrible and you’d deep-six them by recommending them.

The only fair “yes” answer is one in which you honestly felt that an important client would be better served in an important case by going with a competitor’s offering.

If that describes what you did, and it is a fair reflection of how you think about client relationships in general, then I suspect your clients trust you.

This is the “acid test” of trust in selling. To understand why it’s so powerful, let’s consider the factors of trust.

Why Is This the Acid Test?
My co-authors and I suggested in The Trusted Advisor that trust has four components, and we arrayed them in the “trust equation.” More precisely, it is an equation for trustworthiness, and it is written:
T =  (C   R   I) / S

where:

T = trustworthiness of the seller (as perceived by the buyer),
C = credibility,
R = reliability,
I = intimacy, and
S = self-orientation.

Credibility is probably the most commonly thought-of trust component, but it is only one. Think of credibility and reliability as being the “rational” parts of trust. Believable, credentialed, dependable, having a track record—these are the traits we most consciously look for in screening for vendors, doctors, and websites.

The third factor in the numerator—intimacy—is more emotional. It has to do with the sense of security we get in sharing information with someone. We say we “trust” someone when we open up to them, share parts of ourselves with them. We trust those to whom we entrust our secrets.

But all pale beside the power of the single factor in the denominator—self-orientation. If the seller—the one who would be trusted, who strives to be perceived as trustworthy—is perceived as being self-oriented, then we see him as in it for himself. And that’s the kiss of death for trust.

At its simplest, high self-orientation is selfishness; at its most complex, self-absorption. Neither gives the buyer a sense that the seller cares about any interests but his own.

Self-orientation speaks to motives. If one’s motives are suspect, then everything else is cast in a different light. What looked like credible credentials may be a forged resume and false testimonials. What looked like a reliable track record may be an assemblage of falsehoods. What looked like safe intimacy may be the tactics of a con man. Bad motives taint every other aspect of trust.

The acid test aims squarely at this issue of orientation. Whom are you serving? If the answer is, the client, then all is well. No client expects a professional to go out of business serving them; the need to make a good profit is easily accepted.

It’s when the need to run a profitable business is given primacy in every transaction, every quarter, every sale, that clients call your motives into question. How can they trust someone who’s never willing to invest in the longer term, never willing to compromise, never willing to do gracefully defer in the face of what is best for the client? They cannot, of course.

Passing the acid test suggests you know how to focus on relationships, not transactions; medium and long-term timeframes, not just short-term; and collaborative, not competitive, work patterns.

Flunking the acid test means clients doubt your motives. Whether you are selfish or self-obsessed makes little difference to them—the results are self-aggrandizing, not client-helpful.

The paradox is: in the long-run, self-focused behavior is less successful than is client-helpful behavior. Collaboration beats competition. Trust beats suspicion. Profits flow most not to those who crave them, but to those who accept them gracefully as an outcome of client service.

Charles H. Green is a speaker and executive educator on trust-based relationships and Trust-based Selling in complex businesses. He is author of Trust-based Selling (McGraw-Hill, 2005), and co-author of The Trusted Advisor (with David Maister and Rob Galford, Free Press, October 2000).  Visit his website at www.trustedadvisor.com

Referral Selling: An Old Silver Bullet, Revitalized

By Dave Stein

If you visit the best sales blog sites, you’ll no doubt stumble upon Paul McCord. Paul has a lot to say about an old silver bullet-referral selling.

I call referral selling “old” only because the practice of leveraging existing customer relationships has been around for decades. In fact, not enough sales people build this potentially powerful lead generation strategy into their overall territory management approach. (There are reasons for that. Among them are unhappy, unreferenceable customers, fear and simply not knowing how to referral sell.)

I’ve been pretty tough on sales tips books and articles. With that in mind, referral selling skills (like presentation skills and typing skills) can be independent of any sales methodology.

Paul’s book, Creating a Million Dollar a Year Sales Income - Sales Success Through Client Referrals provides a comprehensive view of the subject. His intent is to guide the reader into deploying a referral-based business model. Although Paul’s background is in financial services, where referral selling is more widely used, his strategies and tactics can be applied across pretty much any industry.

Paul’s PWWR (pronounced “power”) system is the key. Plant the seeds, Water them throughout the sale, Weed out any issues, and Reap the referrals. This is Paul’s recommended process and it makes a lot of sense. Although I have not employed Paul’s PWWR process, I can envision it working very well in diverse situations. He’s done a terrific job.

Here is my recommendation for sales leaders. (A full-fledged plan will contain considerably more detail-this is just a starting point….)

1. If your sales team hasn’t been effectively leveraging existing customers for referrals, determine why.
2. Benchmark the level at which referrals business is being converted to sales.
3. If the reason is that (you and) your salespeople don’t know how, invest in this book.
4. Take the time to study Paul’s referral process and his recommendations.
5. Set an objective. For example, referrals will be the source of 10% of our business next year.
6. Devise a plan for adopting his process across your team.
7. Build appropriate coursework, tools, coaching mechanisms. (This is a difficult proposition for a busy sales manager. You probably don’t have either the time or the skills. I’m sure Paul would be delighted to engage with you on this…)
8. Train your team or get them trained.
9. Deploy the process, measure results against your benchmark and objective and refine.

Dave Stein is an internationally recognized thought leader in the area of sales performance, sales effectiveness and especially sales training. He writes the Smart Sales column for Sales and Marketing Management magazine, is the author of How Winners Sell, and is Founder and CEO of ES Research Group, an independent firm offering independent, authoritative intelligence about sales training and the companies that provide it.

Read reviews of Creating a Million Dollar a Year Sales Income by ChangingMinds.org, AllBooks Reviews, Selling Power Magazine, Dave Lakhani, and Frank Rubauskas here.

Pick up any newspaper and you’ll find stories about how bad the economy is.  Foreclosures are snowballing, the unemployment rate is inching up, gas prices are soaring, there are fears of runaway inflation, food prices are way up, layoffs are increasing, the stock market is down, the world as we know it is coming to an end.

For salespeople, this onslaught of bad economic news can have devastating psychological consequences.  It erodes our confidence, heightens our anxiety, and may even convince us that our efforts are hopeless.  The normal ‘no’ we receive is no longer simply no, instead it’s a sign of how bad the economy is.  Rejection becomes magnified, lost sales are indications of how business has changed and our success or failure is no longer within our control.  As the negative economic news increases, we become more convinced that it isn’t us; it’s the economy that is causing our sales to decline, our income to shrivel, our future to be in question.

Having been through several economic ups and downs in my career, I’ve had the opportunity to experience first hand the insidious nature of paying too close attention to the news.  When we are bombarded by negative reports we tend to absorb those reports into our selling activities.  The negative news we read becomes the negative outcome we expect-and the negative outcome we experience.  We view our successes as the rare exception and our failures as the new norm.

This creeping negativism worms its way into all of our sales business.  Our prospecting decreases-what’s the use anyway?  Our presentations and proposals become defensive, pricing becomes our centerpiece, and we no longer ask for the prospect’s business but instead beg for it.

Yet, there are companies and salespeople who thrive in weak economies.  There are those who view a weak economy as an opportunity to grow their business while their competitors are hunkering down with a bunker mentality, hoping merely to survive.

How can you turn a weak economy to your advantage?

5 “Musts” to maintain momentum during a weak econom

1. Maintain Perspective: Don’t allow yourself to get sucked in by the negative hype about the economy.  Even during the worst of the Great Depression there were people and companies buying all types of products and services.  There are ALWAYS quality prospects that want and need your products and services.  Your job is to find them and connect with them in a manner they will respond to.

2.  Maintain Prospecting: Most salespeople will DECREASE their prospecting as the economy weakens.  Their general feeling of malaise and helplessness can work to your advantage if you can maintain-or even increase-your own level of activity.  Further, since most salespeople will be using the most ineffective prospecting methods such as cold calling and networking, employing prospecting methods that are more acceptable to prospects will give you the opportunity to set yourself apart from the crowd.

3.  Focus on Solving Issues, Not Price: Most of your competition will be focusing on price, not solving real issues and problems.  Although price may be a consideration, quality prospects are more concerned about resolving their issues and problems and value, not getting the lowest possible price.  Focus on the prospect’s needs, not your competitor’s price.  While your competitor is busy turning their products and services into commodities to be sold at the lowest possible price, concentrate on understanding the root issues your prospect has and develop solutions that create value for your prospect.

4.  Relationships Are Key: Human nature doesn’t change just because the economy changes.  Both business and individual consumers buy from people they trust and respect.  Certainly, we all on occasion make purchases from people we don’t have a relationship with-we may even make an occasional purchase from someone we don’t respect or trust, but most sales are created through relationships, not price, hype, or fast talking.  That doesn’t change during a slow economy.  People still purchase from people they trust and respect.  While your competitors are looking for the quick sale, continue developing long-term relationships-not only will it pay off in the long run, it will create immediate selling opportunities also.

5.  Take Advantage: As your competitors become more concerned about the economy, they will begin to batten down the hatches, cutting costs-including their marketing and prospecting expenses.  They may cut other corners, even sacrificing customer service to save a couple of dollars here and there.  Take advantage of the opportunities your competitors open up for you.  Cut out the fat in your business while increasing your marketing and prospecting; make a conscious effort to target your competitor’s best customers; while your competitors retreat to their bunker, become more aggressive in pursuing new business opportunities.

An economic downturn can be a time for you to expand and grow your sales business by doing the opposite of your competition.  While they are cutting marketing and prospecting expenses, allowing themselves to become incapacitated by the bad economic news, and hunkering down hoping to just make it through the bad times, you can turn the economy in your favor by eliminating your unnecessary expenses while expanding your marketing and prospecting, recognizing prospects still buy solutions and buy based on relationships, not just price, and by taking advantage of your competitor’s complacency, fear, and mistakes.

Three Incredible One-hour Tele-Seminars on One Day
That Will Change Your 2008

Attend 1, 2, or All 3 Tele-seminars and Pump Up Your Pipeline for the Second Half of the Year

Afraid of the economic slowdown?

New to Sales?

Getting burnt out on the endless, fruitless cold calling?

Can’t find a way to get your career in gear?

Not making the money you want to make?

Just want to make more money?

Whether you’re engaged in B2B or B2C sales, these seminars will show you how to radically increase the number of appointments you set with qualified prospects.

What You Know About Your Prospect:

• You know your prospect doesn’t want your cold call.
• You know your prospect thinks your call is nothing but a waste of their time
• You know your prospect resents the interruption
• You know your prospect has gatekeepers in place to keep you away

What You Know About Yourself:

• You know you don’t have a way to grab your prospect’s attention and interest
• You know you can’t differentiate yourself from your competition on a cold call
• You know you can’t leave a voice message because it won’t be returned
• You know you’re wasting a huge amount of time and effort cold calling
• You know you’ll never become a top producer cold calling

So, what’s the answer?

• 1. Discover a way to quit cold calling and still use the phone to make connections with qualified prospects
  2. Discover how to grab your prospect’s interest within 10 seconds of them answering the call
  3. Learn how to turn your business from cold calling based to referral-based which is the way top producers generate their business

1PM Central
Never A Cold Call, Always an Introduction

Discover how to turn cold calls into a referred call where your prospect welcomes your call and WANTS to hear what you have to say.

You’ll Learn:

• To turn cold calls into real conversations about how you can address real prospect problems and issues
• Immediately capture your prospect’s attention and interest
• Get your voice messages returned
• Get past the gatekeeper without lying or manipulation
• Differentiate yourself from all the other calls your prospect receives by demonstrating your professionalism, your knowledge about your prospect, and by making a call that is worth your prospect’s time

3PM Central
The First 10 Seconds-How to Instantly Engage Your Cold Call Prospect’s Interest

Still want to cold call instead of getting a referral to the prospect? Then you must learn how to grab your prospect’s interest. The first 10 seconds of your cold call determines whether or not you’ll capture your prospect’s interest-or get blown off. Learn how to get your prospect to not only listen, but to pay attention.

You’ll Learn:

• To formulate an introduction that grabs your prospect’s interest
• Determine what you should be talking about BEFORE you call your prospect
• Create rapport with the prospect, not hostility from the prospect

5PM Central
The PWWR Referral Generation System-
Don’t Dream About Referral Business,
Learn How the Mega-Producers Get Tons of Referrals

Learn to turn your business from low return, high time investment prospecting methods such as cold calling and networking into a high return business through generating a large number of high quality referrals from your clients and prospects. Mega-producers don’t cold call, fax worthless fliers all over the place, or run from ‘networking’ event to networking event. Instead, they’ve learned how to get 5, 6, 7, even 10 high quality referrals from every one of their clients and even their prospects.

Just asking for referrals will get you nowhere. Instead you have to learn HOW to make referrals work.

You’ll Learn:

• Why your client won’t give referrals if you just ask
• What you must do to get your client comfortable and willing to give quality referrals
• Get your client to AGREE to give you 5 or more quality referrals
• What you must do to EARN the referrals
• How to make it easy for your client to give 8, 10 or even 15 referrals
• How to guarantee you get an appointment with the referred prospect

Can’t Make it One of More of the Seminars? No Problem!

Since each session will be recorded, register for the seminar and if you can’t make it you’ll still be able to ‘attend’ at your convenience after the 24^th.

Register for any individual seminar $67.00

Register for any two for only $114.00 save $20.00

Register for all three for only $151.00 save $50.00

REGISTER HERE

LIFT VS. DRAG – A Business Leader’s Perspective
By Waldo Waldman

So, how do you get a 35,000-pound F-16 jet fighter to fly?

It’s no easy feat. To overcome the force of gravity, you have to create a force greater than gravity’s grasp. That force is lift.

As the F-16 blasts through the sky, there is an “enemy” of lift that must be overcome. It’s an aerodynamic force which resists the forward motion of the jet (known as drag.)

There are two kinds of drag – induced and parasite. Induced drag is a “good drag.” It is a byproduct of lift and is necessary for flight. Parasite drag is not helpful because it battles against the “good” drag, working to slow the aircraft down. It’s caused by the non-lifting portions of the aircraft, such as the landing gear, missiles, and external fuel tanks.

Here’s the big picture. In order to fly, a jet’s lift must exceed drag. The less drag, the easier the plane flies.

Let’s look at this on a practical level in fighter combat. When evading missiles or engaging another fighter in close combat, one of the first things you must do is what pilots call “jettison your stores.” You have to get rid of all the parasite drag hanging from the jet that’s not critical to immediate, fast flight. Fuel tanks and bombs, for example, must go. This reduces your weight while simultaneously reducing drag, allowing the fighter to be much more maneuverable to avoid getting shot down.

Simply put, if you don’t need it, you drop it.

What “parasites” do you have dragging you down and stopping you from reaching new heights in your life?

Parasites are the negative relationships that sap you of your energy and time while giving nothing in return. Parasites are also the fears, doubts, mental baggage, dramas, and self-limiting beliefs that strangle your ability to take action. They suck the life out of you. They can drag you down emotionally and hold you back from being a successful leader.

Do you have any of that hanging around?

We all have parasite drag in our lives. We’re just not aware that we have it or we put off doing anything about it until our own personal “missiles” begin to fly. If we’re dragged down too much, the missiles will hit us.

What are you holding on to that you really need to let go of? Here’s my advice. Jettison your parasites now!

Wingmen are the opposite of parasites. They are the relationships in your life who lift you to new heights. “Wingnuts” are parasites that drag you down.

Are you willing to jettison what’s dragging you down so you can become more fulfilled and successful? Perhaps it’s an unhealthy relationship, laziness, or a private addiction such as TV, gambling, or a sugar fix. Or maybe a bad job is bringing you down or a fear of failure is stopping you from starting a new business.

Want to find what gives lift in your life? Look at what drives your passion. Look at the relationships and activities that get you excited and energized and ready to “push it up” in life. Then, pursue them relentlessly. Seek what gives you life.

When flight planning for success, winners have an ability to get rid of distractions and focus on action that leads to positive results. They also surround themselves with people who challenge them. Jim Rohn, one of my favorite philosophers, has a saying that I love, “Don’t spend major time with minor people.” If you want to be a success, spend time with people at work and in your private life who lift you up. Folks who have the courage and compassion to tell it like it is. These people won’t settle for your excuses, but they will inspire you and give you hope.

The question remains: How do you attract these types of people into your life? You do it by giving your time, advice, and hope to those in need. In essence, you become a wingman to others and help them to fly to greater heights. You do the hard work to build your own character before expecting it of others. This is the core of leadership. When you do this, wingmen will naturally be attracted to you. They will feel comfortable coming to you for help and you will slowly but surely find yourself surrounded by people you trust. As I always say, never fly solo.

Leadership Wingtip – Leaders push themselves up, while pulling others up.

Discipline, hard work, and productive relationships are the lifts in life that overcome the parasite drags of unhealthy relationships, addictions and complacency. They are your tools to conquer mediocrity and live with courage. They will help you to win. Don’t leave them from your flight plan.

If you want to reach new heights in business and in life, make sure you do whatever it takes to maximize your lift and minimize your drag. Not only will you avoid the missiles, but you’ll hit your target as well!

Waldo Waldman builds team unity within organizations as a high energy leadership inspirational speaker. A former combat-decorated fighter pilot with corporate sales experience, Waldo brings an exciting and valuable message to organizations by using fighter pilot strategies as building blocks for peak performance, teamwork, leadership, and trust. He has worked with dozens of corporations such as Panasonic, UPS, Hilton, Aflac, Bank of America and Hewlett-Packard. Visit www.yourwingman.com to learn more.