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The Decision Institute – Coach Manny Nowak

Sales and Leadership Development

 

Think about the old cliché,

“in order to make it work we have to have a 50/50 deal.

We have to split things evenly.”

 

Do you believe it?

Do things usually work when we give 50 and the other person gives 50?

Not really.

We tried it in business.

We tired it in marriage.

And what we have found too many times is that things still don’t work.

Why?

 

Simply because 50/50 too many times equals failure.

 

But Manny, what does that mean?

It means plain and simply, that in order for a relationship, business, marriage or other to work, some times it has to be 0-100 or 100-0 depending on which side you sit on that day.

Don’t take my word for it, ask anyone out there who has had success.  I know they will agree with the point – some times you get it all, some times you give it all and get nothing.

 

It means 50/50 is a pipe dream.

Because if you are only giving 50 percent and the other person is giving only 50 percent

you are still holding back 50 percent and so is the other person.

And that is just like compromise, and we all know that compromise might look good, but how good does it work in the long run?

The problem with compromise is that neither party gets what they want.

Thus neither party is really happy.

They both had to settle for less than they really wanted.

Think about that.

How does it feel when you have to settle?

 

To make a relationship work, sometimes you have to give 100 percent while the other person gives absolutely nothing, zero percent.  But then again, sometimes it is just the opposite.

 

50/50 never creates real success.

 

Ask anyone happily married for 20 or more years if 50/50 works.

Ask anyone in a strong and successful business relationship for more than a decade.

I will be totally surprised if they tell you, yep, that is how we always do it, 50/50.

 

What happens is plain and simple.

What happens is that many times it ends up as 75/25  80/20, 90/10 or 100/0

One partner has to stretch further than the other.

One partner is not stretching at all sometimes while the other is wonder how much further they can stretch themselves.

 

But the inverse could happen tomorrow.

And it usually does.

Some days we get what we want, some days we don’t.

 

So what does all that mean?

It means we don’t go into a relationship unwilling to give 100 percent.

We have to be willing to accept that.

Remember that humbleness thing we have talked about in the past?

How humbleness is not weakness, it is actually incredible strength.

Trust me it takes a great deal of strength to give 100 percent when the other person gives zero.

 

 

This is also why; in the long run compromise usually doesn’t work.

At times we have to give it all.

 

You will find tremendous success if you are willing to take the risk, take the chance and humble yourself to give it all at times.  Like wise, don’t worry about your chance at giving zero at times, those times come naturally.

 

One final word of caution. 

This only works when all parties in the relationship have this mind set and are willing to give 100 percent, even when the other person gives zero. 

It you try this with someone unwilling to give 100 percent, it will not work.

 

So before you go into that business relationship, that partnership, that marriage. 

Make sure you all agree that sometimes it is going to take 100-0 and that you are all willing to do it. 

 

 

 

 

 

And remember – everyone of us is a sales person - 

we all have to sell something in our lives.

 

Great sales people really don’t sell at all, instead 

they get their customers to buy.  We all love to 

buy, but few of us love to be sold to.  When will 

we understand that?  Today I want to share with 

you 7 of the most deadly mistakes most sales people make. 

 

Is this all the mistakes- no.

Do all sales people make all these mistakes – no.

How many can you afford to make – none.

 

Read and learn.

 

1.         To many sales people do not know 

how to listen.

They still believe that old story about, “you 

will be great in sales because you love to talk”.

Wrong.

 In fact, most sales people spend more than 

75% of their time with their mouth closed and 

their ears open.

 

Have a problem selling?          

Close your mouth.

 

 

2.         To many sales people are poor at follow up.

They don’t get back to people when they 

said they would.

If you tell me, I will get back with you next 

Tuesday – then you better get back to me next Tuesday.

If you say I will send you a proposal by the 

end of the week – then you better do it.

 

Not selling – how consistent is your follow up?

With the tools available to day – never should 

you be unaware.

 

 

3.         To many sales people don’t make prospecting a part of their regular routine.

I don’t care how busy you are.

How many customers you have.

If you don’t prospect ever week – you will 

eventually run out of new business.

It is a fact of life.

Prospect when you are rolling in business and 

you never will stop rolling in business.

             

No business today?  How long has it been 

since you regularly prospected?

 

 

4.         To many sales people think networking takes to much time.

 If you don’t build a network your sales will 

dry up.

            

If you don’t build a network – what will you 

do if you lose your job?

            

Networking creates leads.

            

Networking creates business.

            

Networking builds friendships (see number 7) 

            

No business today – start working your network.  

Don’t have a network – I see.

 

 

5.         To many sales people think collections 

are not part of their job?

            

Everyone (other than people in the collections

 business) hates to collect.

            

Yet if a customer is not paying – why are you still 

letting them buy?

           

 If they don’t want to see you, is it because they are 

not paying?

            

If you have to be involved in collections – it keeps 

you closer to the customer.

            

The closer to the customer you are – the great chance 

for more business.

            

The great chance for referrals. 

            

Customer not paying?  Do you know why?  You should.

 

 

6.         To many sales people lack discipline.

            

To be successful in sales you have to have a daily plan.

            

To be successful in sales you have to have a time 

management process.

            

To be successful in sales, you have to do what you 

said you were going to do when you said you where 

going to do it.  Period.

 

            

Not getting business?  How disciplined are you?

 

 

7.         To many sales people have never built a friendship 

with their customer?

            

Customers buy from those they like.

            

All things being equal.

            

All things not being equal they still buy from those they like.

            

Be a friend first and watch what happens.

            

If you don’t have a relationship – then why would they keep buying from you?

 

Sales is serious business.

But it is a blast.

Look at what you are doing, check against these seven.

Do what you have to do to get back on the track.

 

Sales people win when customers buy.  Plain and simple.

I love to win. 

What about you?

 

Coming to the boot camp next week?

We will be working this, you need to be there.

 

 

There is much more during our boot camp.

 

Click here to learn aboutMillion Dollar Business Development Boot Camp.

 

Do you understand your sales funnel?
Do you understand the suspect to prospect to customer relationship?
How are you managing your sales funnel?

Some quick tips today.
Also, see the webinar we did on this process to learn more.
Click here to learn more on the webinar.

When you think of the sales funnel I want you to simply think of an upside down triangle.

At the top of the triangle, the widest part – are all the suspects you have.
Suspects being all those who could potentially buy what you sell.

At the bottom of the triangle, the narrowest part, the tip- are your customers.

In the middle, are the prospects and the process that makes it all happen.
The “how” to take all those potential suspects and create what we call the “WOW” – a customer for life.

As we say – sales is a numbers game. In the world of prospecting, the more you put in, the more you get out.
If you want 10 customers to come out of the bottom – how many suspects do you need at the top? That is the question for today.

Tip one for today – always start with the end in mind – what do you want. How many customers do you need this year to generate the business you are looking to generate?

How many of you know that answer?
Stop right now and think about it and come up with a number.

I need 20 new clients.
I need 50 deals.
I have to sell 500 boxes of x.

For our example, lets assume you need 10 new clients and that each is worth, $50,000.
That means that if you close 10, you generate $500,000 dollars in revenue.

Next think, based on what you know about prospects, how many qualified prospected do you need to talk with, work with, present to, in order to close one customer.

Tip two for today – no one can close everyone.
Come up with the number based on history. Yes, to start with it might be a guess.

2 for 1 – means you close 50%.
4 for 1 – 25%.
10 for 1 – 10%.
100 for 1 – 1%.
1000 for 1 – .1%

Come up with the number, there is no right or wrong.
Do not come up with a number you want, but a number that is as close to real as possible.
You can adjust as you learn more, but you need a number.

Lets assume for our example the number is 4.
So for every 4 qualified prospects you work, you close 1 new customer.

So back to our example, you need 10 new clients, that means you need 40 qualified prospects – 4 x 10.

So to meet your goal, you have to find a way to generate 40 prospects.

Next you have to look at suspects. This is the big field.

Tip three for today – everyone is not a suspect.
Based on what you know, how many suspects do you need to generate 1 qualified prospect. How many people do you need to meet, touch and engage with.

Again, for your example, let say the number is 10
So, for every qualified prospect, you need to look at 10 suspects.

Again, back to your example, you need 40 prospects, so you need 400 suspects, 10 x 40.

So to meet your goal, you have to have 400 suspects, that will generate 40 prospects, that will generate 10 new customers and generate $500,000 in revenue.

Your numbers might be totally different, but they are your numbers.
There is no right or wrong here, it is how the sales funnel works.
If you understand it, then you really can start to build a very successful sales process.
This is what we call the foundation.
You have to know these numbers.
The process then becomes, how do you find 400 suspects.

There is more on the webinar.
Click here to learn more.

There is much more during our boot camp.
Click to learn more
Million Dollar Business Development Boot Camp.

Now that you know this information, how are you going use it.
That is what comes next.
Stay tuned.

In all you do in life, sports and business, it really comes down to doing the basics.

When you are having a problem in sports – the coach always tells you to go back and work on the basics.

Practice the basics and then see what happens.

How come in sales we always think we are way past that.

Let me ask you how much you practiced your skill last week?

Sales people often get offended when I mention practice.

Practice – are you kidding me – I have been doing this for 20 years.

Practice – do I look like a trainee?

Practice – me, what for, I am already great.

Amazing how professional athletes practice more than they play.

In professional football they play 1 hours week or less.

In pro basketball, they might play 2 hours a week at most.

Do you know how much time professional football and basketball players spend practicing?

Do you know how much time they spend on the basics.

Do you think that the 65 teams going to this years NCAA Tournament are not going to be practicing all week?

So, what about you, when was the last time you practiced your selling skills?

Start today and take ½ hour every day, in the car, on the treadmill, laying in bed – practice your selling skills.

You will be totally amazed at what happens and how much better you get.

You want to win the super bowl of sales or keep missing the playoffs.

Some simple things to work on?

1. Record yourself and then play it back?
Do you really sound as good as you think?
Or have you gotten weak?
How is your voice doing?
How clear are you speaking?
It sounds a whole lot different hearing yourself on a recorder.

2. How well do you know your products?
When was the last time you changed up your presentation -
starting to sound like an old record?
Add something new, change things around, practice and get it smooth.

3. How well do you know your competitors products?
When was the last time you studied their stuff?
Practice answering a question a client might ask?

4. How is your listening?
Take time and listen to some educational stuff or other people talking
Did you really get what they where saying?
Take time and listen to your spouse
Take time and listen to your children
Practice understanding what was really said

5. Work with a partner
Let some else who is honest tell you how you are doing.
Let them play the buyer
Would they buy from you?
Where do you need improvement?

These are just a few things you can practice.
Remember to be great in sports, music and most other things in life, you need to practice – now apply that to selling.

I know you think you are that good. And as I always say – it is very critical to be positive and have that great attitude.

But, just like in sports and entertainment – to stay on top you have to practice

You want to stay on top in selling – then you better start practicing every day.