by Art Waskey | Jul 27, 2021 | Art of Sales Weekly
Napoleon Hill posited, “Whatever the mind of man can conceive and believe, it can achieve.” Hill is an example of someone who found his self-confidence later in life by believing in himself. He had repeated business failures, three failed marriages, was charged with fraud, and falsified his education. Yet, he was able to overcome the negativity of his early years and write the classic business-positive book, Think and Grow Rich, at age 54. He died at 87 a successful and respected man.
Overcome Discouragement
We all have to overcome some form of discouragement in our lives. No one gets a pass, so it is important to learn how to deal with negativity. I was named after my maternal grandfather, who told me at age 12 that he was ashamed that I bore his name. He said I was lazy and wouldn’t amount to anything, words I carried with me for too many years. Now I realize it’s better to treat comments like these in the same way as the cat who reacts to his jump on a hot stove. It may burn you once, but now you know never to go near that place again. Move on.
When we free ourselves from negative thoughts, we are able to go forward. Belief in one’s-self enables you to see the needs of others and be opened to serving them. As Hill wrote, “I will eliminate hatred, envy, selfishness, and cynicism, by developing love for all humanity, because I know that a negative attitude towards others can never bring me success. I will cause others to believe in me, because I will believe in them, and myself.” The most successful people I know all believe in themselves and have the ability to discern the needs of others.
Find your purpose
Henry Wadsworth Longfellow stated, “The greatest tragedy of the average man is that he goes to his grave with his music still in him.” I always believed that God had a great and unique purpose for me. By acting responsibly in the world, we uncover the meaning in our lives and can play our music at top volume.
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by Art Waskey | Jul 20, 2021 | Art of Sales Weekly
The disciplines of an organized executive
Self-confidence
Sales and leadership is more about a person’s self-confidence than the amount of product or a service they provide. Customers and sales people alike are affected by those who exhibit trustworthiness and assurance. You can develop self-confidence by working on the disciplines of an organized executive. I have been coaching a client, who is beginning a career in outside sales, on these disciplines. After just two weeks of sessions, he was able to close three accounts. He attributes this success to the disciplines, which give him the confidence he needs to properly prepare and engage.
The Disciplines
What did my client learn in two one-hour sessions that created such an impact? Here are some of the disciplines that helped him.
Clear the Mind – Most of us try to juggle too many things at once. This often prevents us from doing meaningful work. In his book, Deep Work , Cal Newport states, “Shallow Work is non-cognitively demanding, logistical-style tasks, often performed while distracted.” To clear your mind and become less distracted I recommend writing down all of your tasks. I prefer doing this in a journal rather than on a tablet because it is easier to view the unfilled tasks. A journal also offers none of the distractions inherent in an electronic device.
Develop Focused Concentration – Once you have cleared your mind, focus on a few important goals and set aside everything else. Narrow your attention to your most critical tasks and stop trying to do too many things at once. Focused concentration must become a top priority to maximize your effectiveness.
Practice Organizational Skills – Get organized. Note all meetings, important goals, and next steps as appointments on your calendar. Color code each category of work so you can quickly identify tasks. Address your email as it comes in and keep your Inbox empty. Build permanent computer folders annually. Have a goal of finding anything in your office or on your desktop in less than 15 seconds.
Share your skills
The salesperson I worked with mastered and put to use these basic skills. Today he exudes self-confidence, which has been noted by those he works with. A fellow salesperson has already asked him what is behind his early success. The disciplines of an organized executive can become contagious. Be sure to share them with others.
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by Art Waskey | Jul 13, 2021 | Art of Sales Weekly
I have a client who is concerned about her intellectual growth. She asked how I came up with so many ideas for my weekly sales tips. I shared with her that reading was my greatest resource. One of my favorite quotes is from Margaret Fuller: “Today a reader, tomorrow a leader.” Margaret Fuller, a nineteenth century American journalist, editor, critic, translator, and women’s rights advocate, read her way to success. Stephen Covey, in his book The 8th Habit, discusses the importance of reading today. He emphasizes that this activity is a core way to stimulate the mind, which is the center of learning.
Three reading disciplines
There are lots of ways and reasons to read. To get the most out of this important resource, I find it valuable to break reading into these three disciplines.
Breath of Knowledge – A varied range of reading material creates a strong knowledge base. If you find the classics or more technical works hard to read in print, listen to them on audio. A couple years ago, I helped teach a course on language in which we listened to the Harvard Classics . Since then, I have been learning from the great works of Cicero, Dickens, and Melville, to name a few, via audio books.
Pure Enjoyment – Reading your favorite books and authors is a good way to relax and be inspired. eBooks readers put a vast amount of material available at your fingertips. I keep a collection of my preferred contemporary writers, like John Grisham, David Baldacci, and Michael Crichton, on my Kindle.
Read to Learn – The best way to learn from a book is the good old fashion way — read it in print. Purchase books so you can highlight your favorite passages. I also recommend writing down a collection of your thoughts or meaningful quotes from each book and saving them. I call this practice, reading to own.
Build castles of possibilities
Reading is an important resource. Business writers I especially admire include Stephen Covey, Jim Collins, Malcom Gladwell, and Patrick Lencioni. Whether in audio, electronic, or print format, reading fuels the imagination and develops the mind. Through words you can learn so much in a short time. As the Nigerian poet Ben Okri so beautifully writes, “It [reading] takes the raw material of the mind and builds castles of possibilities.”
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by Art Waskey | Jul 7, 2021 | Art of Sales Weekly
Getting the Price Right
The pandemic has disrupted supply chains, resulting in shortages of goods and rapidly escalating material costs. Suppliers and distributors have had to adjust their pricing policies (see related article: best-pricing-strategies). When considering a price increase, all customers are not the same. Both suppliers and distributors have asked me how they can determine if the customer is getting the right price.
Customer segmentation
To determine pricing levels, I suggest you create a pricing strategy based on customer segmentation. Consider these elements:
- Order frequency – Customers that purchase weekly are loyal, core accounts and don’t shop around. They are your base. You don’t want to lose them through overly aggressive pricing. Consider moderate and measured price increases for this group.
Buyers that come to you only because of an urgent need or because their normal supply channel is out of stock are infrequent customers. Assign maximum pricing to this group.
- Size of orders – The cost of processing an order is the same regardless of size but large orders from core accounts receive perks like free delivery or other special considerations. For smaller orders consider charging for these services as part of your pricing strategy.
- Breadth of products – Core customers buy a mixture of high and low volume products frequently, and sometimes non-standard items. Be sure to price each item accordingly, with best buyers receiving best price. Maximize your sales by using your eCommerce technology to upsell and cross sell more products.
Review your accounts
When considering price increases, I recommend reviewing all accounts by sales rep or store assignment. This review should list the current pricing for each item (breath of products purchased), order frequency, and annual sales. You will find that customers with contracts are often getting prices that are too high or too low. Make adjustments. Infrequent shoppers may have been given special pricing that’s too low. Take the time to correct those.
Intervals of price increases are a good time to increase your profit margins, if handled correctly. Review your accounts for proper segmentation, remove inappropriate pricing, and engage in positive interactions with your customers. In this way periods of price instability can become valued, rather that dreaded, occurrences.
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by Art Waskey | Jun 29, 2021 | Art of Sales Weekly
We’re back meeting with customers face-to-face. Yet in this “post pandemic era,” it feels like the way we do business will never be the same. Sales reps report that online ordering has become a comfortable habit for their clients. They also note that customers have moved to alternative wholesale channels and some are even ordering directly from suppliers. Many reps feel like they are starting over from scratch and need to learn new sales skills. As the 19th century French poet and novelist, Victor Hugo, wrote “There is nothing so powerful as an idea whose time has come.” For sales reps in a post-COVID world, that idea is proactive selling.
3 Proactive Sales Tips
Given that alternative sales channels are here to stay, let’s consider proactive ways to compete against them by adding value.
- Develop an eCommerce presence – To compete against the Amazons of our world, you need to provide on-line ordering and fast delivery. Enlist a well-qualified eCommerce platform designer to develop your website. Stock your on-line store with the products most in demand by your top customers. Then organize a shipping system that enables overnight delivery from your location or that of your supplier.
- Add vendor managed inventory (VMI) – For easy-to-dispense products that you sell, work with a vending machine manufacturer to purchase or lease equipment that can be installed at your customer’s location. This enables you to compete against next day delivery services. Add vending machines at your location(s) to allow walk-in customers to make quick and easy purchases.
- Initiate productivity enhancement – Work with your manufacturers’ reps to look for cost reduction opportunities. Tour customer’s facilities to do the same. Consider adding lean manufacturing and engineering personnel to support your company’s sales effort. These steps enhance productivity and can help you cement and secure new business.
Value added services
In the post-COVID world, value added services are a proactive way to offset the benefits of online sales and overnight delivery (see more: differentiate-yourself). In most cases you can charge for them, which can strengthen your bottom line. Stephen Covey writes, “Proactive people carry their own weather with them.” Add value added services to your sales process and enjoy a sunny forecast.
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