Achieving Business Excellence with John Spence

How To “Win” In Sales

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This is one of the biggest “aha moments” I ever had when learning to be salesperson, which I got from a fantastic book called: Let’s Get Real or Let’s Not Play by Mahan Khalsa.

“In sales, you and the customer want the very same thing: the Exact Right Solution.”

 

Let me unpack this for you…

If you are talking to a potential customer, than they have already given you a buying signal; they are giving you some of their time, which means there is at least some level of interest in your product or service. So you both know what you are there for, a potential sale. The goal then is to make sure that you both get what you want out of the transaction, they get a reasonable price on a product or service that they need and you make a reasonable profit. This is the only possible outcome for successful transaction, the Exact Right Solution.

  • Sell them something too expensive and they find out that your price was high, you lose the customer.
  • Sell them something too cheap and you lose money on the deal, your company goes out of business.
  • Sell them the wrong product that will not actually meet their needs, but makes you a nice commission, you lose the customer.
  • Sell them the right product and deliver it late, you lose the customer.
  • Sell them the right product and it does not work, and you fail to follow-up and get it fixed quickly, you lose the customer.
  • Sell them the right product but promise them too many additional services, you lose money on the deal, your company goes out of business.

I could go on and on, but I’m sure you get the idea, unless both you and the customer get exactly what is right for both of you, you have not made a successful sale.

That means that it is not you against the customer, it is the two of you working together as a team to develop the Exact Right Solution. To me, this takes away the sometimes adversarial relationship between buyer and seller. I remember early in my career that every time I went on a sales call I felt like I was trying to “win the sale.” The truth of the matter is I should have been trying to win the trust of my customer by giving them exactly what they wanted, that also aligned perfectly with what I wanted, so that we could build a strong positive relationship and I could be seen as a partner and trusted advisor who would always do what was in their best interest, as long as it was also in my best interest. The classic Win-Win agreement.

Now that I understand this, sales is so much more fun. I’m not there to “win” anything, I’m there to help us much as I can and work jointly with my customer to develop solutions that makes everybody happy so that we look forward to doing more business together in the future.

To me, that is the way a professional salesperson approaches the sales process.

Your thoughts?

Two Superb Books I Highly Recommend

John SpenceI have just returned from three weeks on the road, including 10 days on a speaking tour across Poland as a guest of the United States Consulate General in Krakow. I had a lot of time on airplanes and read several books but there are two that I would especially like to recommend.

The first is called “BOOKSMART – hundreds of real-world lessons for success and happiness,” by my friend Frank Sonnenberg. This is an absolutely fantastic book of wisdom and sage advice that is presented in a very user-friendly way, with lots of lists of things to think about and apply. The book covers numerous topics around business, family, success, financial health, marriage and other critical issues. The chapters are short but powerful. I have already reread this book twice and have applied several of the ideas to my business and life. This is one of those books I plan to come back to often as a reminder of what I should be focusing on and how to build a happy, joyful and highly successful life. This book would be a wonderful Christmas present for anyone you know that enjoy books on self-improvement or business improvement.

The other book I’d like to recommend to you is called, “The Leaders Mindset – how to win in the age of disruption,” by Terence Mauri. In this book Terence describes three major leadership mindsets:

  1. Think Big Mindset (Future Shaper)
  2. Act Bold Mindset (Risk Taker)
  3. Learn Fast Mindset (Knowledge Seeker)

He then goes on to describe how to integrate all three of these mindsets in order to be an effective and successful leader. I underlined a lot of this book, and I’ve recommended it to several of my clients. It’s a good, solid book that will help you take a new look at how you lead in your organization. One of the reasons I love this book so much, is that it aligned very strongly with what I have been studying for years about great leaders and great organizations. It was reassuring to read such focused and detailed ideas and descriptions that match so closely with my strongly held beliefs about what makes a real leader. If you are interested in a book that will help you examine the way you think about leadership and the actions you take as a leader, you will definitely enjoy this book.

I have just a little bit of downtime around the Christmas holidays, so I will have a few more books to recommend at the start of the new year. If you have recently read a great business or self-help book, please comment on it here so that my followers and I can pick it up and learn from your recommendations.

I hope you find these books of great value – take good care – John

 

Signed With a Handshake: How Trust Builds Good Companies

Recently I rehandshakecommend a great book from Bernie Swain called “What Made Me Who I Am.” I was very impressed with Bernie and his approach to business so I asked him if he would share a guest blog for my readers (that’s you). I really love what he sent, and I think you will too, it is a great testament to how important it is to build honest and real trust with your customers. Here is his article…

When you start your first business, it is hard work. The odds are against you. When you start your first business in an industry you know nothing about (other than what you read in a magazine), it is virtually impossible to succeed. And yet, that is exactly what my wife, my business partner and I did more than 35 years ago, when we hung out our shingle as the Washington Speakers Bureau.

No matter how you start, you will quickly learn some important lessons about finances, products, customer service, marketing, and, if you are like us, the need for a business plan. These are the fundamentals of any business. You also learn about the intangibles necessary to succeed, such as leadership, passion, focus, integrity and trust. You often learn these through trial and error. But I learned one of them, trust, by mistake and it became a defining moment in our company.

In our first year, we represented no one. We made no money. Then after 14 months, we signed our first speaker, Steve Bell, the news anchor for ABC’s Good Morning America. Actually, all we did was shake hands. While the practice in our industry was to sign speakers to one- or two-year written contracts, we were too excited to do any paperwork.

This meant that Steve could walk away from us at any time. Loving that idea, he told some of his friends, a group of Washington journalists, that we didn’t require signed contracts and if they went with us, they, too, could walk away.

This mistake attracted our first stable of speakers, all on a handshake. It did one other thing, totally unanticipated. It established an atmosphere of trust. We knew that we had to work hard to keep our new speakers happy or they would walk. But in turn, our hard work showed our clients how much we cared. Instead of being a mistake, our handshake agreements built a deep intimacy and a bond on which we began to rely on each other. That is the basis of trust, and it was a critical turning point for our company, where we continue to “sign” every speaker with a handshake.

We went on to become the biggest speaking bureau in the business, representing many of the world’s leading figures in government, business, sports and the arts, in addition to the media. In talking to many of our clients about the challenges they faced in their careers, I realized that we were in good company. They, too, had benefited from turning points—some intentional and some by way of happenstance—that made the difference at crucial junctures in their lives.

To be sure, not every business agreement can depend on a handshake—employee contracts and vendor agreements, for example, almost always have to be far more formal.

But every company can find ways to foster trust—by delegating responsibility, say, or establishing a compensation system that gives each employee a stake in the organization’s future. The company benefits, the employees benefit and, most important, the customers benefit.

For us, the trust we have with our speakers has spread to all personal and professional relationships in our company. “Can I trust you?” is not a question we ask, but rather, “Is this the right thing to do?”

Trust builds good organizations, just like it builds good families. By contrast, “distrust is very expensive,” as Ralph Waldo Emerson put it. It tears everything apart.

Whether you discover this truth by mistake or by design, you’ll find that trust is fundamental to the success of any group of people you bring together or lead.

Let’s shake on that.

** By the way, I also do this with many of my clients. No contract, just show up, try to help them as much as I humanly can, and they send me a check. I really like doing business that way.

How do you make the most of a conference?

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I was just asked by the folks at the Eventbrite, a tool for events I use often, if I would offer some suggestions for how to be more successful when networking at a conference. You’ll see the great infographic they created below, but I’d like to emphasize a few of my main ideas on this topic.

  1. It is NOT about what the people at the conference can do for you, it’s about what you can do for them in order to earn the right to have a real business relationship.
  2. Be a connector, imagine the conference as a giant party where you are the host and it is your job to make sure that all of the guests have a great time and meet lots of interesting people. So focus being a superb connector of cool people, they will appreciate your efforts a great deal and in turn will introduce you to their cool colleagues.
  3. When you meet someone, ask about their business, then ask them what are two or three of the big challenges they are facing that they would love to have help with, then do everything you can to connect them with someone that can assist them. There might be a chance that they will mention something that you can help them with, but the goal here is just offer assistance, not try to get a new client right away.
  4. Follow up soon after the conference, not to ask for business, but to say how wonderful it was to meet them and then try to offer more value. Connect with them on social media, connect them with someone you know that you think they’d like to meet, recommend a great book on a topic they are interested in, send them a fantastic article or a link to a great blog – and then send them something else of value every month or so. And then, every now and then, send them something about your company, products or services – not something super  salesy — it has to be something interesting and of real value to them. If they are a great potential customer they will eventually reach back out to you and ask more about your business and how you can help them.

Here are a few more suggestions from the folks at Eventbrite and me…

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25 Skills Needed To Be A Consultant Of The Future

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A very good friend of mine, Kendall Langston, is teaching an MBA class next week at the University of Canterbury in New Zealand on the topic of, “Consultant of the Future” and asked me what I thought were the necessary elements to be a successful business consultant. Here is the quick list I came up with off the top of my head…

  1. Global mindset
  2. Insanely competent
  3. Absolutely superb communicator
  4. Extremely curious
  5. Understands their customer’s business and their customer’s customers
  6. Strong business acumen
  7. Voracious reader
  8. Understands their customer’s industry
  9. Understands the consulting industry
  10. Has a strategic mindset
  11. Studies the impact of technology
  12. Well-networked with other thought leaders
  13. Has proprietary research/processes
  14. Focused – works in a narrow niche area
  15. Has strong sales skills – to sell their consulting services
  16. Has a broad toolkit of best practices and methodologies
  17. Has superb follow-up and customer service
  18. Very, very strong work ethic
  19. Passionate about being a consultant
  20. Can deliver the required results / ROI
  21. Has long-term relationships with their clients
  22. Is respected and has a strong reputation in the consulting industry
  23. Innovative/creative thinker – critical thinker
  24. Nice person – 100% ethical, enjoyable to be around, humble
  25. Works well with others – good team player

Did I miss anything?

 

 

Three Great Books and a Fantastic (Free) Sales Webinar

The Sales Webinar has already passed — it was earlier in the year.

 

How To Get More Referrals

I Am Never Right

Business IdeaWhen I first got into the training and consulting business I really believed that it was critical that I demonstrate an exceedingly high level of competence and a strong confidence in my ideas. Often times when a client felt that I was wrong, I would argue with them and defend my position with vigor in an attempt to prove that I was right and they were wrong. Then one day I had an epiphany…

I was not right.
Actually, I am never right.

The truth is there are often multiple right answers. My ideas are based purely on my opinion and every person in my classes has a right to their opinion too. Each of them has a unique background, with unique experiences and they have seen, read and learned all kinds of things I have never been exposed to. No matter what my answer is to a question, it is extremely rare that my answer is the only right answer.

As soon as I realized that, everything became easy.

I no longer had to defend, argue, persuade or attempt to prove that I was right – because I knew I wasn’t. Sure, I’ve had a lot of business experience, read thousands of books, worked in hundreds of different companies all over the world – but still, at the end of the day, I’m just giving a thoughtful guess as to what I think the answer might be. I could be completely wrong, I have been several times in the past, and I will be several times in the future. However, there’s also a very good chance that I will be right, or at least my idea will work well, perhaps as well or better than other people’s ideas.

Adopting this position allows me to be fearless, because it is impossible for me to fail.

I offer my opinion, I give some feedback, I suggest the very best ideas I can possibly think of, and then is up to the other person if they want to accept my idea or reject it. It’s just an idea. If they hate it, that does not matter at all, they are perfectly welcome to think that my idea is terrible. But here’s the most important point: that doesn’t mean I’m terrible or stupid or incompetent, it just means they didn’t like my idea. Big deal.

Luckily, the people that hire me are typically inclined to be interested in my ideas and most often think they are pretty good and even sometimes excellent. Again, that’s nice, but it doesn’t crush my soul if someone feels I’m completely off-base and have no idea what I’m talking about.

It’s just an idea…big deal.

I look forward to your thoughts – do you think I’m right?

Vision, Mission, and Values: More Than Words On Paper

I am happy to say that in this video, I officially address a question I receive all the time. I am constantly asked, “What is the difference between and the importance of vision, mission, and values in our organization?” Therefore, I have dedicated this straightforward video blog to answering. As all kinds of organizations ask me this question — non-for profits, associations, small businesses, startups, major businesses, etc. — all kinds can benefit from the answer.

Good News

Some good news about vision, mission, and values that I would like to share before I define them is this:

  1. Not having a vision, mission, and values will not destroy your organization.
  2. You do not have to keep the same vision, mission, and values forever.

Good Definitions

Therefore, companies without these features can remain calm, but as a vision, mission, and values are very important to the health and success of your business, you should consider implementing them soon, and you should know the basic definitions in order to do so. Here are my explanations of vision, mission, and values:

  1. Vision:

I like to think of the vision as the statement that answers the questions of “Where do you want to go?” and “What do you want the future of your organization to look like?” The vision can be set by the owner, CEO, or director of the organization, but it is usually best to involve the staff, the board, and other key people in the process of shaping the vision. Many companies put metrics in their vision, but these metrics do not have to be superlatives. You do not have to set a vision to be the best in the world! Being a good, profitable, or highly respected company is perfectly acceptable because the price you have to pay to be the best in the world is very high.

  1. Mission:

The mission statement answers the question: “Why does your organization exist? Why are we trying to reach that vision?” One of the best ways to understand the mission statement is to think, “Who would miss you if your organization ceased to exist?” All types of organizations, such as for-profits, not-for-profits, and associations, should use the answer to this question, which should focus on who you are serving and what services you provide, to direct them. The mission promises a company that if they continue to do what they have determined to do every day, then one day, they will achieve their vision.

  1. Values:

Values are, in my opinion, the most important of these three aspects of your company, so it is crucial to make your values exactly what you want them to be. Many people say that values are not made, they are discovered, and while that is true in part — some of them do come about naturally — it is also true that some of your core values should be created. Some core values are discovered through how you behave now, but others can be chosen as inspiration. Whenever your company is establishing your vision, mission, and values, remember that simplicity is the ultimate sophistication: you only need the values that are the most fundamental to who you are. Values can actually have such weight in a company that if an employee violates them, they are immediately terminated. If people violate the values and are not terminated, or are actually rewarded, that communicates to the rest of the world that your company really does not care about your values, and this message will cause you to lose all credibility and leadership.

Good Benefits

These things can be very confusing, but I hope that this video makes them clear and simple. The vision, mission, and values of your company are things that serve value to the marketplace and can drive outstanding business behavior when everyone in your company is excited about them and committed to them.

I hope you found this helpful — John


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