Mastering The Essentials of Sales_8 potx

Four-wheel drives havefaith in their ability to accept failure, they know how to manage adversity, and they have the courage andfaith to survive disasters.. MASTERING THE ESSENTIALS OF S

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Bob had it happen to him After 20 years in sales andsales management, his company merged and half hissales staff was eliminated So was his position Bob re-ceived a generous severance package and took his family

on a two-week vacation just to clear his mind about what

he wanted to do Six months later he is still without a job,feeling bitter and blaming his former boss for not warninghim about the merger

Elizabeth met with failure in a different way Afterdozens of calls and pages of detailed proposals she landed alarge sale that made her eligible for a trip to Hawaii Theday the order was supposed to be shipped, she received anurgent email message from her CFO that the customer had

HOW DO YOU REACT

TO FAILURE?

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failed to send the down payment She decided to visit thecustomer who wrote her a check for the full amount in ex-change for immediate shipment Unfortunately, the checkbounced, and two days later the client company went intoChapter 11.

How do you react to reverses of fortune in your sales reer? When most people think of a successful career, theyoften imagine a continuous string of victories, a steady up-ward movement, and a predictable supply of manageablechallenges In real life, successful people are those whohave stumbled, picked themselves up, learned more aboutthemselves, and moved on to tackle even greater chal-lenges

ca-Research suggests that how we respond to a setback pends on what psychologists call ego strength Do you seekcomfort after failure, or do you seek solutions? How longdoes it take you to find the best course of remedial action?

de-Do you punish yourself by sticking your head in the sand,

or do you accept the situation, hold your head up high, andmove on? Do you ignore failure, or do you learn from it? Theanswers to these questions are determined by our ability toappraise reality objectively, which is the hallmark of egostrength

Ego strength divides executives into three types:

1 The Sherman Tank These sales executives have

armored their egos with steel plates Like bulletsthat ricochet off a Sherman Tank, failures justbounce off their egos without leaving a scratch Theyforge ahead in the face of failure, either denying it orpretending that nothing happened Sherman Tanks

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believe that denial or

cover-ups are effective

coping strategies The

downside of their rigid

strategy is twofold: They

never learn from their

failures, and they are

very vulnerable when

failures hit too close to

home

2 The four-wheel drive These sales executives have

the greatest ego strength When they run into theruts of failure, they shift gears, apply a greatertorque on all four wheels, and roll on Although theyexperience the sting of failure, they don’t allow theiregos to get bent out of shape Four-wheel drives havefaith in their ability to accept failure, they know how

to manage adversity, and they have the courage andfaith to survive disasters

3 The convertible These executives see failure as an

opportunity to open up When adversity hits, theydon’t hide; they closely survey their surroundings Inthe process they discover more about what influ-ences them and how they can build on theirstrengths When adversity strikes, convertible execu-tives respond with openness, leading to more realis-tic worldviews They see failure as an opportunity tobecome more humble, more accepting of other peo-ple, and more focused on what really matters

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REMINDER

Failure is always abitter medicine We caneither swallow themedicine so it canrelease its power, orrefuse to take it and fail again

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Dr Paul Stoltz is one of the nation’s most renowned

re-searchers on adversity In his book Adversity Quotient: Turning Obstacles into Opportunities, he describes how we

can determine our adversity quotient The test reveals howwell we deal with life’s tough challenges, setbacks, and dif-ficulties When measuring a group of real estate salespeo-ple, Stoltz found that agents with a high AQ outsold agentswith a low AQ by as much as 250 percent

Stoltz says people generally fall into three main gories: the quitter, the camper, and the climber The quit-ters give up trying to live a purposeful life According toStoltz, “They refuse the opportunity and abandon theclimb.” In the second category, between 60 and 80 percent

cate-HOW TO TURN SETBACKS

INTO COMEBACKS

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of people, are the campers The campers only go so far andthen “weary from the climb terminate their ascent.” Theyset up camp somewhere along the road to success and maynever see what else lies ahead on their journey The climber

is in the third category Climbers are dedicated to a lifelongascent, says Stoltz These are resilient, tenacious, persis-tent people who don’t know the meaning of the word quit.Typically, 5 to 20 percent of the people you work with areclimbers

Research by Dr Martin Seligman shows that what counts

is not what happens to us, it’s how we interpret or explain anadverse event Dr Seligman measured the responses to ad-versity of thousands of insurance agents He found that theway salespeople explained their difficulties—by using eitheroptimistic or pessimistic terms—dramatically affectedtheir sales results Optimistic salespeople outsold pessimists

by 88 percent Salespeople who used pessimistic tory styles were three times more likely to quit regardless

explana-of talent

To a sales manager, managing adversity is as important

as managing goals A successful sales team must strive toachieve ambitious goals and learn how to overcome ob-stacles Unless a sales team develops a methodology for

knocking down barriers andturning stumbling blocks intostepping-stones, a more resili-ent team will take the lead inthe marketplace

The sales manager has toapply the right mixture of re-alism and optimism to help

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salespeople understand that though they’ve lost a sale,they haven’t lost their capacity to sell The blueprint formanaging adversity must be embedded in the manager’sattitude He or she has to demonstrate that we all canmake the choice to respond to adversity in a positive, cre-ative, and constructive way.

The most successful salespeople on any team are traordinary climbers who conquer more difficulties thantheir competitors Studies of people who have fought life’stoughest battles show that winners over adversity discoverinner peace, uncommon wisdom, and unprecedented levels

ex-of success

Some experts suggest that we can fake it until we make

it There is some practical wisdom to that Many feats ofmankind hinge on a hope and a prayer Sales success canhinge on the art of turning setbacks into comebacks Wealone hold the key to turning adversity into an excuse tocamp out and fail or into a reason to continue the climb andwin

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How do you handle disappointments? In business, thenorm is to be upbeat, motivated, and achievement ori-ented With everyone focused on success, disappointmentcan invite denial According to Dr Zaleznik, professor emer-itus at the Harvard Business School, the way we handle dis-appointment is often more important in reaching successthan our focus on success itself Why? Because managingdisappointment forces people to learn more about them-selves and to better manage future disappointments Hereare some keys that can help you manage disappointment:

1 Stop running Allow yourself time to think and sift

through the residue of your troubling experience If

HOW TO MANAGE DISAPPOINTMENT

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you are alone, put it on paper If you have a goodfriend, talk it over.

2 Separate your ego from your loss If you lose a

sale, you haven’t lost your ability to sell If you losemoney, you haven’t lost your capacity to work Noloss can turn you into a loser without your consent

3 Don’t try to restore shattered dreams; build new dreams instead Accept the fact that we can-

not revive, rebuild, or restore the past; we can onlycreate a better future New dreams create new hope

4 Align your dreams with your talents Dreams

sometimes create the illusion that we have the ents to turn them into reality Before you decide on a

tal-big dream, perform a “realitycheck.” Ask successful peoplefor help to appraise your tal-ents objectively

5 Develop a deeper commitment to meaningful goals If your commitment is

only in your mind, then you’lllose it when you encounter abig obstacle If your commit-ment is in your heart and yourmind, you’ll create the power

to break through the toughestobstacles

6 Do not put all your eggs in one basket Success-

ful salespeople always keep

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ACTION TIP

When you’re

disappointed, take a

sheet of paper and write

down new dreams to

replace those that have

been shattered by

circumstances beyond

your control New

dreams create hope

Over time we realize

that disappointment is

the cradle of ambition

and the wellspring of

bigger dreams

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their sales funnel filled with fresh opportunities Ifone or two deals go sour, they have more in the wings.

7 Create a balance in your life Lower your risks for

suffering from disappointment Create a balanceamong work, family, and play

8 Assign realistic probabilities to your tions If you expect to win a large account, assign a

expecta-percentage from 0 to 100 that reflects your chance ofwinning If you believe that you have a 100 percentchance of winning with every account, your chances

of suffering from disappointment will skyrocket

9 Learn and grow from every disappointment.

Don’t sidestep growth by becoming cynical Cynicism

is the scar tissue of unresolved disappointment icism drives out the ability to look at the world opti-mistically

Cyn-10 Learn from other people who have suffered from disappointment Disappointment managed

well will often lead to greater success

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Recently, one of my neighbors lost his job The high-techcompany he worked for as a regional sales managerwas forced into bankruptcy Although he knew that his em-ployer was having financial difficulties, he blamed himselffor not recognizing sooner that he had become a victim ofpoor management Today he takes a much closer look at hisprospective employers and says, “I don’t want to make thesame mistake twice.”

What can sales executives do to avoid getting hurt bypoor management practices? How can they evaluate thetrue opportunities a company can offer?

CHECK OUT YOUR NEW EMPLOYER

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1 Check the company’s value system Read the

company’s mission statement Ask about the pany’s philosophy of doing business, find out aboutthe corporate culture and ethical guidelines, and askhow decisions are made that affect customers andsalespeople (like price increases, customer com-plaints, or product improvements)

com-2 Check management’s commitment to progress.

Is the company committed to total quality? Doesmanagement pursue ongoing improvement? Are em-ployees empowered to make decisions? How are em-ployees trained to grow? What are the specific toolswith which the company measures its progress?

3 Check the company from the perspective of a customer Ask for the opportunity to visit a few of

the company’s customers Ask a few questions aboutquality, service, follow-up, or ideas for improvement

4 Check the company from the perspective of an investor Since you are planning to invest your

time, your energy, and your future, you should ine the company from the perspective of an investorwho buys stock in the company You are becoming astakeholder in the company, and you want to makesure that if you create a certain value, you will re-ceive a fair return on your investment

exam-5 Check the company from the perspective of the owner Find out everything you can about the com-

pany’s owner Who started the company? Who ownsthe company now? Who runs the company today?What is the company’s vision of the future? Find

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out what influenced the

company’s growth (or

de-cline) during the past

five years

6 Check the company

from the perspective

of the reporter Go to

the company’s Website

and click on “About Us.”

Read the company’s

his-tory, read the press

re-leases, learn about the

key officers, and check

their educational

back-grounds Next, search

the Internet for articles

that have been published about the company You’llfind that many companies don’t post all the articleswritten about them on their Websites Search theInternet for articles that have been published aboutthe company’s officers You’ll be surprised how muchyou can learn about the company in a very short time

The best companies to work for are those whose agers are well educated and that have a strong sense of loy-alty to their customers, employees, and shareholders.The more employees understand the role of manage-ment, the better they will be able to contribute and maketheir investment pay off

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ACTION TIP

Check out the company’ssales compensationsystem Many newcompanies lure topsalespeople fromestablished firms withhigh salaries andunlimited earningpotential When thesesalespeople earn morethan their managers, thecompany may changethe commission system

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Irecently attended a seminar for company presidents For

a week I had the privilege of working closely with agroup of high achievers who manage companies whosesales range from $10 million to $1 billion Here are some ofthe characteristics of these high achievers

1 High achievers are driven by a pioneering spirit They explore uncharted territory, enjoy mov-

ing forward in the face of great risk, and love findingsolutions to problems that others find daunting.They take pride in innovations that make old path-ways to success obsolete

2 High achievers are impatient with those who

SECRETS OF HIGH ACHIEVERS

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seek safety and comfort They prefer risk-taking

to playing it safe High achievers seek ever-greaterchallenges and aren’t content with small, slow gains

3 High achievers know that all horizons are cial When high achievers watch a sunset, they don’t

artifi-see the end of the day—they imagine the sun rising onthe other side of the planet They know that there is anew dawn every second somewhere on this earth

4 High achievers use a special compass to guide them Here are the four compass headings of the

high achiever:

• North High achievers climb higher Austrian

Reinhold Messner was the first human to set foot

on 100 unexplored summits He climbed MountEverest solo, without oxygen, and mastered 14 ofthe tallest mountains in the world Messner oncedescribed climbing as a theater of excellence

• South High achievers search deeper When

Alexander Graham Bell invented the telephone,

cautious bankers dismissedthe new device as “a curios-ity that will not last.” So heplanned sales presentationswhere he would appear inone theater and talk to hisassistant, Watson, in another.Bell knew that creating thetelephone was not enough; hefound new ways to sell hisinvention

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REMINDER

Here is the secret for

staying ahead at all

times: When reality

forces you to take two

steps back, think of new

possibilities that

will take you three

steps forward

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