Ask A Sales Leader: Steve Goodman on Replicating Success

This guest article is written by Steve Goodman. Steve has been in sales for over forty years, and has had the fortunate experience to lead sales teams and divisional organizations in the laboratory supply industry for most of that time.  Customer interactions are a critical part of his duties all the time.

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I love this time of year in the business sense.  A good year can become great and a close-to-target year can make it over that line with some hard work.  No matter what kind of a year you’ve had, improvements are possible and goals are achievable with a strong finish.

While your team is executing the year-end strategy, leadership is working hard to have executable plans ready to go on January 1.  A new year and a new start; all the promise for the best year ever!  Part of those plans should include an evaluation of your intellectual honesty— an honest reflection of your business. Am I and this organization being truthful as to why we win and lose in the marketplace?  Are our investments  driving results?

Pick up any of your sales reports and there is likely to be some reference to loss on price or loss on an RFP.  Look too at the wins. You should find  mention of what was done right!  Analyzing both situations is key to understanding market competitiveness and how to apply resources so you improve the odds of winning in the future.  How many reports referenced being outsold, late to the opportunity or completely unaware of the actual decision maker?  Hopefully not many but delineating reasons for the loss will turn the defeat into something you can use.  On the flip side, with your successes, what’s getting you the sale? Do you see the same individuals demonstrating their skill time after time and wish the whole team would too?  Without open reflection, the status quo will remain.

Being intellectually honest about the true nature of wins and losses is not always the most comfortable conversation to have with your team or with yourself. But it’s  the only way to accurately chart a new course of action or refine your current path.  Consider the following questions and how providing an accurate analysis of your sales process might benefit your team:

  • Do you know the customer’s buying process?
  • Who is(are) the decision maker(s)?
  • How will pricing be competitively tested and how are the specifications being formulated?
  • What part do you play in helping a customer formulate a solution to a problem?
  • Are you engaging at the beginning of the customer’s buying process, the middle or one out of three quotes?
  • Are you bringing value to the customer or just looking to perform a transaction?

How and when you engage customers affects the answers to all of these questions.  Investing in your people by offering a proven sales process and the right tools will answer the how and when.  A process is essential for building forecastable and repeatable results.  It formalizes how you deliver value to the customer and establishes an ongoing relationship.  It all starts with intellectual honesty around the current state of business affairs.

Here’s to an outstanding 2024.

 

 

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Decoding Decision-Making: Unveiling the Five Essential Qualification Areas

In the dynamic world of sales, understanding five critical areas from prospective customers can significantly impact your chances of making a successful sale. At our company, we emphasize the importance of uncovering this information before submitting a proposal or quote. Let’s delve into these key areas—The Players, Timetable, Decision Criteria, Proposal Content, and Roadblocks—and discover how to leverage them for a more favorable outcome during the sales process.

1. The Players

Identifying the key decision-maker is paramount. While subordinates and influencers may play a role, directing your sales efforts primarily towards the decision-maker avoids extended sales cycles and low closing rates. It’s crucial to recognize that those lacking decision-making authority can’t say “yes” and may not fully understand the company’s underlying issues. By focusing on the right individuals, you can significantly enhance your closing rate and ensure a more informed sales approach.

Additionally, acknowledging the importance of others in the organization, such as potential champions for your competition, is essential. In complex sales, building relationships with these individuals can prove invaluable.

2. Timetable

Understanding when the prospect plans to make a decision provides insights into the urgency of their needs and allows you to manage your time effectively. Aligning with the prospect’s timetable ensures that you present your solution when they are most receptive.

3. Decision Criteria

Every prospect has unique decision criteria, and making assumptions based on past experiences is a risky strategy. Engage with the prospect to have them explain and rank their criteria from most to least important. This information is particularly vital when dealing with competition, as it allows you to tailor your approach to align with their specific business objectives.

4. Proposal Content

Avoid making assumptions about what information the prospect needs in your proposal. Your objective should be to provide exactly what is necessary for them to make an informed decision—no more, no less. Tailoring your proposal content to meet their specific preferences enhances your chances of securing the business. Always seek clarity on their expectations to deliver a proposal that aligns with their decision-making process.

5. Roadblocks

Anticipating potential roadblocks that could hinder the implementation of the solution is a proactive step. Asking about potential challenges, such as negotiation hurdles or budget issues, ensures a comprehensive qualification process and eliminates surprises down the line.

In conclusion, mastering these five key areas empowers sellers to navigate the sales process with precision, increasing the likelihood of a successful outcome. By understanding the nuances of each prospect’s unique situation, you can tailor your approach to align with their specific needs and priorities.

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On The Road Again: Providence, Rhode Island

John visits Providence, Rhode Island talking about closing your pipeline for the remainder of this year and strategy for next year along with budget and commercial execution. This is where your sales process comes in to help each of your team members to have value based conversations.

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Finalize Your Sales Plans for Next Year Strategy, Budget and Execution

It’s that time again when executives begin to finalize their plans and budgets for the next business year. While sellers are closing out their pipelines for this year, Leaders are getting ready for what comes next.

Companies spend millions of dollars to get their commercial strategies right. A global customer of ours just spent 4 million dollars to get their strategy aligned to the best markets for growth. Now what? The newly found information is delivered to sales and others in customer-facing roles (CFRs), including marketing, customer service and technical support, and then they HOPE that they all get it right. They hope that all these roles just sync up in a well-coordinated unison. Unfortunately, we all know that it’s just not that simple.

At Flannery Sales Systems, we build processes for our customers that include the tactical execution of the commercial/go-to-market (whatever you choose to call it) strategy. And what does that mean exactly? It is a clear plan for how the individuals in your CFRs conduct conversations to provide a customer or prospect with an understanding of how to use your product or service to increase revenue, reduce costs or minimize risk. Simple, right?

Our customers improve the quality of the sales opportunities they develop and increase the overall revenue in their pipeline when they embrace and execute this process. All sales organizations are focused on this, and we enable it with a skills-based program that is custom built for our customers based on the markets they compete in and how organizations BUY, not how they should be selling.

Whether it’s to prepare for next year or fine tune opportunities in the pipeline now, we can help. Take fifteen minutes to consider how we can enable you to meet and exceed your objectives. Ready? Let’s go!

For additional Sales Strategy information, check out some of our other blog posts here.

 

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On Leadership and Service to Others: President John F. Kennedy

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Last month, I had the opportunity to visit the JFK Museum in Boston while on a business trip to the area. This visit had been on my bucket list for some time, and I had immersed myself in reading about President John F. Kennedy to prepare for the experience. Little did I know that the real essence of JFK’s leadership and service to others would come to life in a whole new way as I walked through the museum.

I was already aware of the pivotal moments in Kennedy’s life, such as his journey to the Oval Office, his role in the Cuban Missile Crisis, and his unwavering support for the Civil Rights movement. However, being at the museum allowed me to delve deeper into the complexity, danger, and the level of involvement he had in both these monumental events.

It would be odd not to be in awe of the pressure and responsibility that Kennedy faced during those harrowing days in October 1962. The world stood on the brink of nuclear war, and it was Kennedy’s leadership, his calm and measured approach, that steered us away from potential catastrophe. The crisis underscored the true test of a leader, showing how one handles adversity and the lives of millions hanging in the balance. Kennedy’s decision-making during this crisis demonstrated his resolve and his commitment to safeguarding not just American lives but the entire world.

The additional profound impact JFK had on shaping the world was through the establishment of The Peace Corps. While these two major crises unfolded in the 1960s, Kennedy was also laying the foundational work for the Peace Corps, which would go on to become a beacon of American goodwill and humanitarianism. This organization exemplified his vision of service to others, both domestically and internationally.

Visiting the JFK Museum was a powerful reminder of the enduring legacy of President Kennedy’s leadership and his unwavering commitment to service. His ability to inspire others to serve their country and the world is a testament to the kind of leadership that transcends time and continues to shape our world today. In an age where leadership and service are more crucial than ever, Kennedy’s example remains a beacon of hope and inspiration, one that would could certainly use in our next President.

 

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Navigating Success: The Importance of Building a Discovery Map in Sales

In the world of sales, creating value with clients is paramount to success. To achieve this, sales professionals must embark on a journey of discovery, understanding the client’s needs, objectives, and challenges. This process begins with the creation of a “Discovery Map.” In this blog post, we’ll explore the significance of building a Discovery Map when prospecting a new client and during opportunity development with a new sales customer. We’ll delve into the essential components of a Discovery Map, from identifying key players to addressing specific challenges, to help you navigate the path to successful client relationships.

Identifying Key Players and Their Primary Business Objectives

The first step in creating a Discovery Map is to identify the key players within the prospective client’s organization. These individuals wield influence and decision-making power. Equally important is understanding their primary business objectives. What are the core goals and aspirations that drive the organization forward? By pinpointing these objectives, sales professionals can tailor their approach to align with the client’s strategic direction.

Unearthing Challenges Related to Primary Business Objectives

Once you’ve identified the key players and their primary business objectives, it’s time to dig deeper and uncover the challenges that stand in their way. Every organization faces hurdles on the path to achieving its goals. By understanding these challenges, you position yourself as a valuable partner in helping the client overcome obstacles and reach their objectives.

Asking Open, Direct, and Impactful Questions

Effective discovery hinges on the ability to ask the right questions. Sales professionals should ask open, direct, and impactful questions that delve into the heart of the client’s challenges. Open-ended questions invite clients to share their thoughts and concerns openly, while direct questions help clarify issues. Impactful questions encourage clients to reflect on the consequences of unresolved challenges and the benefits of finding solutions.

For example:

  • Open-ended: “Can you describe the current state of your operations?”
  • Direct: “What are the specific pain points your team is facing?”
  • Impactful: “How do these challenges affect your bottom line and overall business objectives?”

Linking Capabilities to Address Challenges

Once you have a clear understanding of the client’s challenges, it’s time to present how your company’s capabilities can address these issues. Tailor your solutions to the client’s unique needs and objectives. Demonstrating how your products or services can provide tangible value and help them overcome their challenges is a pivotal step in building trust and credibility.

Building a Discovery Map is not just a routine step in the sales process; it’s a strategic approach that can create value for the customer and pave the way for long-lasting and mutually beneficial client relationships. By identifying key players, understanding primary business objectives, uncovering challenges, asking the right questions, and presenting tailored solutions, sales professionals can position themselves as trusted advisors who are genuinely invested in their clients’ success.

In the competitive world of sales, where creating value matter more than ever, a well-crafted Discovery Map can be the compass that guides you toward fruitful partnerships and prosperous opportunities. So, embrace the power of discovery, and watch your sales efforts lead to meaningful and enduring client connections.

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On The Road Again: Ireland

John visits Ireland in this on the road again video and discussing topics for our upcoming newsletter including the 3 phases of the buyer’s journey, discovery map, meeting summary and evaluation timeline.

 

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Ask A Sales Leader: A Conversation with Mohamed Rachada 

Bio: Mohamed Rachada (who prefers to go by “Rachada”) is a tech-savvy, multilingual, sales professional who is proficient in five languages and driven by a profound passion for technology. With a career rooted in the power of language and its ability to bridge cultural gaps, Rachada currently serves as a growth consultant in the language services industry at Nimdzi Insights. 

In this insightful conversation, Rachada shares his journey of growth, transition, and continuous learning. From tech layoffs to embracing a new industry, Rachada’s experiences offer valuable lessons for anyone navigating the ever-evolving landscape of sales and personal development. 

1.  What is it like coming from the technology space into a commercial language services sales role? 

 Transitioning from the fast-paced Web3 technology space to the world of language services was a leap of faith for Rachada. The decision to embrace this new industry brought challenges in adapting to different standards and conversation dynamics. Despite the difficulties, Rachada highlights that stepping out of one’s comfort zone is vital for growth. He emphasizes the importance of seeking guidance from industry experts and investing time to truly understand the nuances of a new field, reinforcing the idea that becoming an industry expert requires dedicated immersion.

2.  What keeps you going when you are having a bad day? 

Rachada shares his strategies for maintaining resilience on challenging days: 

Before (Prevention): By prioritizing tasks and shifting his internal perspective, Rachada preempts potential stressors. 

During (Coping): Employing box-breathing techniques helps him regain composure and detach from immediate situations, maintaining a broader perspective. 

Beyond (Continuous Growth): Rachada’s “Gratification Wall” at home serves as a reminder that difficulties are transient. Reflecting on achievements and challenges motivates him to overcome present obstacles, keeping an eye on future growth. 

3. How do you improve your sales skills? 

As a newcomer to the sales realm, Rachada adopts a philosophy of perpetual growth. He credits his colleagues at Nimdzi for their wisdom and guidance, considering them an invaluable source of knowledge. Attending skill-focused sales events and subscribing to informative sales newsletters reinforces his commitment to improvement. Rachada also dedicates his leisure time to enhancing his sales skills and forming connections with industry mentors. 

4.  What advice would you give to others who are new in sales? 

Rachada offers insightful advice to those embarking on a sales career: 

 Active Listening: Understanding prospects’ challenges precedes presenting solutions. Empathetic communication leads to tailored and resonant solutions. 

Embrace Rejection: Rejection is part of the sales process. Each “no” is a step closer to a “yes.” Analyze setbacks for continuous refinement. 

Problem Solving: Be a problem-solver, addressing pain points and offering solutions that provide tangible value to prospects. 

 Stay Resilient: While quotas can be pressuring, Rachada advises staying resilient, focusing on growth, and managing stress. 

Learn and Adapt: Sales is dynamic. Rachada encourages continuous learning, seeking mentorship, and maintaining a growth mindset. 

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Unlocking Sales Success: Mastering the Art of Value Communication

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In the current business landscape, establishing the value of your product or service is more crucial than ever. If you can’t clearly communicate how your offering can boost revenue or reduce costs, it becomes challenging for potential customers to see why they should choose you over your competitors. According to a study by Forrester Research, the primary obstacle to achieving your sales targets is the inability to effectively convey a value proposition.

Here are some of the top inhibitors to meeting sales quotas:

  1. Insufficient leads: 13.3%
  2. Poor sales skills: 16%
  3. Too many products to know: 21.4%
  4. Information gap: 24.3%
  5. Inability to communicate a value message: 26%

“Value proposition” is a term that gained popularity in the 90s, and regardless of whether it’s considered a buzzword or not, establishing your product or service’s value without overwhelming potential customers with a barrage of features and benefits remains essential. So, how can you achieve this?

  1. Understand Your Customers: Begin by studying your customers thoroughly. Dive into their market, understand what they sell, assess the competitive landscape, consider the size of their organization, and identify the key decision-makers involved in their processes. Conduct informational interviews within your network, seeking insights from industry insiders who have experience with your ideal customer. Lastly, engage directly with your customers and prospects. Learn about their goals, how they measure success, and understand their pain points. Armed with this research, you’ll be well-equipped to position yourself effectively to resonate with your target audience.
  2. Demonstrate Value: Utilize the knowledge you’ve gained about your customers to craft a message that highlights the value of your product from their perspective. Explain how your product can alleviate their pain points and help them achieve their daily, weekly, monthly, and quarterly objectives. Some examples include:
    • “Imagine a day without the stress of x, y, and z. With the time you save, you’ll be able to accomplish twice as much of what you need to do.”
    • “Whether it’s daily, weekly, or yearly, we understand that goals are always top of mind. Let (product X) help reduce the time it takes to meet those goals by taking advantage of x and y capabilities.”
  3. Position and Differentiate: Identify what sets you apart from your competitors. Is it your exceptional customer service, an extensive range of capabilities, or competitive pricing? Whatever it may be, ensure that this differentiation is consistently emphasized across all your sales and marketing channels. Align your messaging on your website with your social media channels, marketing materials, and the language used by your sales representatives. This might sound straightforward, but regrettably, many organizations overlook this crucial step.

By understanding your customer, effectively demonstrating value, and clearly positioning your unique offerings, you can streamline the sales process and avoid falling into the 26% of businesses that struggle to communicate their product’s value consistently and persuasively.

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Build Pipeline Through Skill Development

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In the ever-evolving landscape of sales, one thing remains constant: the importance of a robust sales pipeline. It’s the lifeline of any successful sales professional, a conduit through which potential clients become valued customers. But how do you create and nurture a pipeline that consistently delivers results? The answer lies in skill development.

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