by Julie | Feb 13, 2020 | Sales
I met with a prospect this week and we were discussing her perception that she isn’t a good salesperson. I asked her what she thinks a salesperson’s role is, and she said, “To come into a meeting and tell people what they should buy.”
Well, I had news for her: The days of this kind of selling are long gone (or they should be). A good salesperson takes time to understand her customers, their goals and how to help them reach those goals. Today’s sales professionals are focused on helping customers solve problems.
Most of my clients don’t have sales teams that tell the customer what to buy. But I have found that many of them are reluctant to ask the probing questions that will uncover the customer’s true needs. Those needs could be around reducing total cost of manufacturing, or developing an innovative product, or increasing internal efficiencies. But if you don’t ask the questions, you won’t know, and then you are reduced to selling a product, not selling a solution.
If you modified the approach of your sales process to be solution-focused, would that improve your close ratio? If your goal every time you called a prospect was to provide some value, would that result in increased sales?
If you want to increase your sales, and develop customers who want to share their problems with you because you are a solution-focused supplier, send me an email. My proven sales process has resulted in close ratios that increased by 30% in just three months.
by Julie | Feb 6, 2020 | Sales
| If you are paying attention to the news, you know there is a lot of economic uncertainty right now. Yes, our economy has been doing well over the past 3+ years, but several current factors may have an impact, including the upcoming election, Boeing’s 737 Max, the European economy including Brexit, and the coronavirus. Each of these factors could or will affect our customers, our suppliers and ultimately our businesses. If you are concerned about a decrease in sales, it is probably safe to assume that your customers have the same concern.
But here is the good news. We can take steps now that will either prevent or minimize the effect of these factors on your businesses and your customers’ businesses. The following are 5 tips that will keep you on track to increased sales:
- Understand your value proposition to your customers. Do you know why your customers are buying from you? Many assume it is because of your prices. But that assumption is wrong probably 90% of the time. Customers are buying from you because you are helping them add value to their product or service. But you won’t know the real reason unless you ask them.
- Ask your customers what other projects they are working on. You may have other products that could help them achieve their desired results. But don’t lead with your product benefits. You need to understand what they are working on first.
- Offer ideas that could help them reduce their Total Cost of Operation. This is different from lowering your price. It could mean offering a more expensive product with a longer life, a different method of packaging or shipping, or an innovative approach to the current process.
- Bring positivity and energy to the conversation. Don’t be afraid to talk about what you are doing internally to overcome current challenges. This may spark some ideas for your customers to apply.
- Call your customers. You won’t get the information you need through an email, no matter how diligently you ask all the above questions. Even in this day and age, phone calls are better than emails or texts.
If you aren’t sure how to how these five tips can increase your sales, send me an email, and I’ll call you to demonstrate how I can quickly help increase your sales with my proven process. |
|
by Julie | Jan 30, 2020 | Leadership, Management
There comes a time in nearly everyone’s management career when he or she must decide whether to keep, redeploy or release an employee. A number of factors need to be considered when making this decision, and while the emotions should be removed, this decision also requires compassion. I thought I’d share my process, which I call PAID to Act, for helping clients ensure they’ve considered all the factors.
Passion
Does this employee demonstrate a desire to be in the position? This comes across in more than just words; it includes actions, non-verbal cues and attitude. What signals are they sending to let you know they have the desire to perform at the required level? Do they exhibit energy when assigned a new task? Are they willing to spend the extra time to make sure a job is done right? Or are they out the door at the end of their day?
Aptitude
If an employee has the passion, the next question is whether they have the skills needed to perform. There may be times when the employee needs training or coaching in order to increase their skill set. If the employee lacks competence but shows a desire to improve, then it’s still possible to retain the employee and develop their skill set. But there are times when it isn’t possible for the employee to develop the needed competence in order to fulfill the position. And that is when managers must make a hard decision: release or redeploy.
Importance
An employee might have the desire and aptitude to be in a position but might not understand its importance. Some positions come with a higher salary but also demand more time, a higher profile and the ability to make difficult decisions. Many people, especially younger employees, express a desire to be a supervisor manager without really understanding the responsibilities that come with those positions. Some management positions can mean additional hours and stress without any added glamour. Without a doubt, though, entry-level managers and front-line supervisors are the backbones of many companies. These individuals are often tasked with implementing the company vision while responding to each employee’s needs. No matter the role of the employee being evaluated, it is critical that he or she understand and embrace the responsibilities of the position.
Deliberation
You can’t make this decision without doing some internal reflection to ensure you have created an environment that provides the greatest opportunity for success. This can be a difficult thing to assess, but you must do so honestly. This includes asking yourself the following questions:
- Have I provided honest, direct feedback on the employee’s performance?
- Have I provided the tools the employee needs in order to thrive?
- Have I listened and understood the employee’s responses?
- Can I say with peace that I have done everything I could to provide an environment for success?
Act
If you believe you have done everything possible for a successful outcome, then the time has come for action. This action needs to Be Bold. Don’t hesitate or second-guess your decision. The longer you wait, the greater the risk for unintended consequences, including built-up resentment, degradation of team performance or spreading discontent to customers or suppliers.
Do you need help deciding on the best course of action? My proven process will assist you in reaching a decision. Call or email me today so we can decide the best course of action with all parties involved.
by Julie | Jan 23, 2020 | Leadership, Management
The Underlying Cost of Not Being Bold
Last week, I gave an example of a client who chose to be bold when addressing an employee-performance issue. In that case, the results turned out to be positive for both the employee and the company. Of course, it doesn’t always work out that way. So, if you’re hesitant to deal with an employee-performance issue, you might want to consider what that issue is really costing your business.
According to Gallup, disengaged employees have higher absenteeism, lower productivity and lower profitability. Gallup estimates that a disengaged employee will cost their employer 34% of their salary, meaning that a disengaged employee making $50,000/year will cost you $17,000. Multiply that by 10 employees, and you’re losing $170,000/year.
That number seemed a little high at first, but then I went back and looked at some recent engagements and what each client’s situation was really costing the business. Here are some examples:
- A mid-sized professional services company had a department manager who didn’t have the skills to manage his team, resulting in reduced productivity, more mistakes and a lower-quality product leaving the department. The owner estimated that this was costing his $40M business about $325,000 across the entire company, in key employee losses, additional installation labor and product redesigns.
- A $20M low-tech manufacturing company was struggling with lack of engagement in the supervisor who oversaw its highest-revenue, most technical department. Over a period of six months, the company missed more than $1.2 million in shipments and $300,000 in revenue and 50% of all shipped product was rejected by the customer. These two issues nearly put the company out of business.
- A manager at a highly technical manufacturing company lacked the interpersonal skills to manage a rapidly growing department. This resulted in a $457,000 drop in profitability in just three months due to numerous errors in quotes to customers, inefficient processes and a growing scrap rate.
If you have concerns about how a key employee is performing, are you ready to Be Bold and take action? Email or call me today and we can immediately begin to take steps to correct this situation. |
|
by Julie | Jan 16, 2020 | Leadership, Management
As I was writing my last newsletter, on 10 Mind-Altering Tips to Maximize Your Impact in 2020, one tip I wanted to include was “Be Bold.” Having a list that can go to 11 is good, but I didn’t want to overwhelm your altered mind. So I stuck with 10.
But I believe being bold is key to success. So, what does “Be Bold” mean in business? It means making the decisions that you know are the right ones even if they might require hard work to implement. It means having the courage to say no when you feel like you should say yes.
A client recently had to face the realization that an employee in a critical position wasn’t performing at the level they needed in order to achieve their strategic vision. I was asked to assess the employee and his contribution to the company. Could the employee be coached for success or was he subject to the Peter Principle?
Fortunately, I was able to recognize the areas that needed coaching and development and work with the employee to augment those areas. The employee emerged with a stronger vision of leadership, a sense of direction for his department and the skills to hold his team accountable for results. This engagement increased departmental productivity, resulting in an annualized profitability increase of $125,000. While the end of this story was a good one for the company and the employee, sometimes the difficult decision has to be made to free the employee to excel in another organization.
Many businesses will accept reduced performance from a long-time, loyal employee. But at some point, every business reaches the conclusion that not addressing the issue will impact the health of the company. The business owner willing to Be Bold will see that issue and take steps prior to allowing it to impact performance.
Do you feel like you could be bolder in your leadership? Are there opportunities for your employees to increase their performance? If you answered yes to either of those questions, call me or email me. I can help you address those areas and get you on the path to profitability.
