09 Apr

As a former accountant, sales manager, economics instructor, and someone who spent many years calling on large financial institutions and major corporations in the anti-money laundering field, I have always been fascinated by the concept of risk. Risk may be defined as the measured avoidance of negative consequences of an action. Whether it's losing money on a financial transaction, loaning money, or jumping out of an airplane, risk is an inherent part of our lives. Risk assessment is a fundamental part of our decision-making process, often done unconsciously. We first learn about risk, at a young age, when deciding whether to...

02 Apr

This is paraphrased from a famous line in a song written by Bob Dylan. The song suggests youthful idealism often gives way to realism with age. Many think they're brilliant when young but learn more as they grow older. I found this true in my career—from thinking I was brilliant in my 20s to becoming wiser in my 30s, 40s, and 50s. Life's complexities often show fewer black and white absolutes and more nuances. Adapting to technological changes means embracing new ideas and continually retraining. Rapid advancements require us to understand new technology's benefits and drawbacks. Success comes from being adaptive,...

11 Mar

I love sports and often use sports analogies. Now is the time of Major League Baseball's Spring training. At every team's camp, at least one or more young men try to earn a place on the team's roster. Here is a hypothetical situation: Your team has two people at camp competing for one position, let's say third baseman.  So far, one young player, Smith, has had a terrific Spring.  His batting average is .453, he has stolen three bases, his fielding has been perfect, and his attitude has been exemplary. Smith was undrafted out of college, where he played for three years and...

24 Feb

This past week, I had a case of influenza. It reminded me of an incident many years ago when I began my career as an accountant. I joined the cost accounting department for GD Searle & Co., then an independent, more than one-hundred-year-old, family-controlled public biotechnology company, now a Pfizer subsidiary. The CEO at the time was Daniel Searle, a great-grandson of the founder. Searle was known for releasing the first birth-control pill, Enovid, and for developing Metamucil, Dramamine, Celebrex, and aspartame. The leader of my cost accounting team was Glen, who was in his forties.  Glen had worked for Searle for...

17 Feb

“Catch-22” was a popular fictional book and later a movie published by Joseph Heller in 1961. In Heller’s book, an Air Force lieutenant desired to be exempted from a bombing mission because he claimed he was insane.  But, claiming he was insane to avoid a dangerous mission demonstrated that he was sane.  Therefore, he could not be exempted from the mission because he was not insane. Merriam-Webster defines “Catch-22” as “a problematic situation for which the only solution is denied by a circumstance inherent in the problem or by a rule.”1  A typical example is a job-seeker not being hired because they...

10 Feb

One of the most overlooked keys to sales success is Attitude. A positive attitude consists of being mentally optimistic and self-confident. It is essential in sales—and life! Attitude is as important as skill in determining sales success.  How can you perform well if you’re not in your best mental state? If you don’t believe you will be successful, you will not be. I went into every sales call believing I would win and close each sale, regardless of the circumstances. This was not conceit or overconfidence. If I gave a better-than-average explanation of how my solution could provide the prospect with exceptional...

21 Jan

Many sales pros ask me what to do when the prospect doesn’t return calls or emails.  You have been calling on a prospect for several months and believe you have established rapport with your contact. You presented a thoroughly researched business case about two weeks ago but have not received any replies to your telephone calls, texts, or emails.  This is now called “ghosting.”  Yes, they are impolite and don’t care how much it means to you. You are very frustrated with the silence and wonder what the problem is.  Did you do something wrong?  Your mind is super active. And...

16 Dec

When I became a sales manager, I believed I had to treat all the salespeople who reported to me equally.  As a first-time sales manager, I thought it was essential that no salesperson should receive any special treatment or more of my time than the others. I was also very personally committed to the concept of equality of opportunity.  I also endeavored to be color-blind and gender-neutral in hiring and treating my team. This goal seemed to be in alignment with social norms. I went on approximately the same quantity of sales calls with each salesperson and tried to divide my time...

02 Dec

I recently wrote about an episode early in my sales career when I worked in a shared office environment with salespeople and remote workers.  I overheard another salesperson, Stan, tell the manager of the buyer’s contact he had been working with that he had been promised a contract by a recently deceased prospect. It was untrue. The prospect had said to him that he was no longer under consideration, then passed away shortly afterward.  I assume there wasn’t a paper or email trail.  Stan was able to get the business from the uninformed manager and bragged about what he did...

25 Nov

Many assume that sales is a serious profession—and it certainly is. There are times when it can be very entertaining. Indeed, interacting with potential customers and learning about their company and its challenges can be enjoyable but sometimes very frustrating. Getting selected and closing a contract always gave me pleasure. Some of my buyer contacts became personal friends, many of whom I am still in contact with years after the sale.  Listed below are some of my favorite sales anecdotes: Where is the most unusual place where you have ever collected a contact from a customer?  Here are three of mine: Once,...