06 Jun

Here is the scenario: You developed a lead into a qualified opportunity, held meetings to demonstrate your value proposition, answered questions, arranged customer visits, and crafted a return-on-investment case that impressed the Economic Buyer. The buyer's interest grew, leading to calls for more information, workshops, contract requests, and training queries. They analyzed your solution, asked their questions, and examined the alternatives. Then, you were informed that your solution was selected from among the several they were considering. However, the deal suddenly stalled, your contact is not returning calls, and the opportunity remains open.  Has this happened to you? Your contact informed...

06 Jun

When pursuing a prospect in the sales cycle, it might seem advantageous if there is no competition. Indeed, discovering a lead and completing the sales process without the threat of a competing supplier can be less stressful, as no competitors are highlighting potential shortcomings of your company or product. Such scenarios are uncommon and should be celebrated when they occur. This has become even rarer since the pandemic, which has made access to prospects more challenging. However, competition can sometimes be beneficial in closing an opportunity. This may sound counterintuitive, so allow me to elaborate. An essential aspect of ensuring that time...

12 May

“Talent wins games, but teamwork and intelligence win championships.” Michael Jordan1 Teamwork offers significant advantages over individual work through better communication and synergy, leading to enhanced problem-solving, innovation, and creativity. It often results in a positive work environment and improved morale, although this is not always the case. Most people prefer working in teams rather than individually, and I have always enjoyed being part of teams. Here are a few examples from my work experience that highlight a lack of teamwork: I was part of the Executive Group at a software company. During a meeting, a peer who had previously privately agreed with me...

06 May

Understanding Economic Cycles Economic cycles, comprising phases of growth or expansion and contraction or recession, are a fundamental aspect of the financial landscape. These cycles are a natural occurrence in all free economies, influencing how corporations navigate their operations to optimize profits and efficiencies. The U.S. economic cycle typically spans about five and a half years, although it can vary between eighteen months and ten years. Good times lead to difficult times, and vice versa. The stock market is dissimilar to the economic cycle, although they often experience similar behavior, as investors' beliefs in the future economy and company profits influence...

28 Apr

Have you ever walked into a meeting where one person dominates, trying to prove they know more than everyone else? And that you don’t know anything? It’s unwise to challenge them head-on. Handling Mr or Ms “Smarty Pants”: Navigating the Know-It-All Factor in Sales Every salesperson encounters brilliant evaluators eager to prove their expertise, often at your expense. They do not hate you or your company. It's usually an ego issue—they need to show off in front of peers. They rarely act this way in one-on-one conversations. Their sharp intellect and relentless questioning can derail your presentation and threaten your sale if...

21 Apr

Lessons in Leadership: Observations from My Career I have encountered numerous managers who exhibited substandard leadership qualities throughout my career. Beyond their poor treatment of staff through threats and intimidation, many struggled to effectively motivate their employees or understand the reasons behind high turnover. One manager, the founder and owner of a profitable software company, was undeniably intelligent, having developed a valuable program for checking the integrity of internal systems. However, he could not manage professional employees. His first-line managers, including me, operated as a dysfunctional team, receiving minimal guidance and support from him. One even admitted that he hoped I would...

14 Apr

I recently received a call from a sales professional seeking assistance with her strategy to beat her primary competitor, referred to here as ACME, on a significant sales opportunity. ACME frequently emerged as a finalist in many of her sales opportunities, compelling her to exert considerable effort to secure the sale. During our discussion, I inquired about her approach to competing against her top competitor. She responded: "What do you mean? I just informed you that ACME, whom we have been discussing, is my top competitor." I clarified that while ACME was a formidable competitor, it was not her foremost...

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...

04 Mar

My background has primarily been selling enterprise-wide financial, human resource, medical, anti-money laundering, and manufacturing solutions.  In most cases, the prospective buyer has strategically decided to change their infrastructure. The highest-level executives typically make these decisions in an organization.  So, when deciding who to sell to in the organization, it is a mistake to ignore the importance of reaching the "C" Suite executive. They are the ones who approve all decisions and expenditures. The approver is sometimes called the "economic buyer" or the "key decision maker."2 Lower-performing sales pros often make the mistake of focusing solely on their user buyer contacts and...

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...