To help you reach your sales goals
Archive for April, 2010
From The Street: Specialist vs. Generalist Jack-of-All-Trades, Master of None.
Apr 24th
Street Talk: Specialist vs. Generalist
Jack-of-All-Trades, Master of None.
This tired cliché is still around because it’s true. Here’s a real story of how a using a generalist provided short-term gain but cost more in loss of time and frustration.
I follow my dreams. Not in a fluffy, wandering sort of way–I plan a course of action and make it happen. I find that actively achieving personal goals establishes a pattern of behavior for business. One success inspires another.
A Story from the Street
This is why late last year I sent in an application for a US Coast Guard Captain’s license. I love boating and wanted to increase my skill level to be a better mariner. It’s a rigorous application process. In addition to an extended period of studying and testing I had to 1) apply for a Transportation Worker Identification Credential, 2) prove my boat handling abilities, and 3) be subjected to a series of physical and background checks.
Decision Time
After smoothly sailing through the process all that remained was the physical. As you know a physical has multiple components. One of these is the hearing test. I was faced with a decision. I could get my hearing tested by my general practitioner or go to an audiologist. Of course I went with the convenient, less expensive solution. The general practitioner conducted the hearing test in his office along with the rest of the physical.
A few days later the test results came back: I was 85 percent deaf in my right ear. What!? (Sorry, couldn’t resist.) I called the exam administrator who explained that no test is completely accurate and there is room for a margin of error. Great! I asked to take the test again. She refused explaining the machine was recently calibrated (I later found out that “recent” meant a year ago). I asked the physician and he said it was easy to compensate in regards to the Coast Guard license because I could simply turn my head further and listen with my good ear.
It sounded questionable but believing the physician was the expert I went ahead and submitted the physical for the application. It came back denied. I had become the customer who was getting kicked around and being denied honest answers. My needs didn’t matter to the service provider and worse…they gave me false information to assuage my fears. I was angry.
A Specialist to the Rescue
Soon the anger turned into genuine concern for my health. Having never experienced any hearing related problems I decided to get a second opinion. This time I went to a hearing specialist: an audiologist.
As it turns out the audiologist didn’t even need to test me. She took one look at my paperwork and pointed out the results were impossible. According to the generalist’s finely-calibrated hearing machine I could hear everything in the high and low range but nothing in the middle. This was physically impossible. The error was so obvious the audiologist couldn’t believe the general practitioner didn’t notice it. In fact, she asked for a copy of the test to share with her colleagues for a good laugh. (Ouch for the general practitioner!)
Eventually, we were able to clear up the error and I have my Coast Guard Captain’s license.
Choosing a generalist cost me 3.5 frustrating months.
How many times do we look for the all-in-one or quick fix solution for our business? Does short-term convenience really save you money or time? Does it really truly simplify your systems?
Moral of the story: If you are having a problem with your business, find a specialist, not a jack-of-all-trades consultant. Here’s some advice to help you recognize three signs to help you recognize the generalist.
1) They don’t provide a focused skill set.
Generalist: I provide strategic solutions for your business needs.
Specialist: I provide strategic solutions targeting your flat sales numbers.
2) They won’t provide a specific set of deliverables.
Generalist: I will help your staff work as a team.
Specialist: Using a series of workshops accompanied with one-on-one training, I will give your staff sales skills that will improve their sales conversions and numbers resulting in improved confidence, morale, and ability to work towards a definitive common goal.
3) They won’t provide measurable results.
Generalist: My trademarked system will improve your bottom line and streamline your business systems for improved bottom-line results.
Specialist: I’ll start by measuring and benchmarking your staff so when I’m done you can see exactly how they make 30 percent more phone calls each hour and convert 20 percent more leads into actual sales.
Mike Krause is the Chief Sales Architect and owner of Sales Sense Solutions where he gives business owners the stellar sales they want by implementing the tools, tactics, and high performance strategies they need.
From The Street: Perception Is Reality
Apr 17th
From The Street: Perception Is Reality
I often wonder if people realize that what they do is louder than what they intended to do?
The Story From The Street
Last week, while waiting in my doctor’s office for an appointment a gentleman was standing near the sample area. I thought he must be a pharmaceutical representative (rep) waiting to speak to my doctor. The gentleman left.
A few minutes later I was chatting with some of the staff when my doctor came over and said, “you won’t believe this,” and handed me a business card from a large financial company. Turns out the pharmaceutical rep was actually a financial advisor making a cold call office solicitation under a false identity!
That took some serious cajones. Here’s why it was such an underhanded way of approaching a prospect. Turns out the gentlemen was a pharmaceutical rep but he’s currently a financial advisor. He used the trust he built with the staff as a pharmaceutical rep as an open door to make a pitch for his financial advisor business.
A medical staff is extremely busy. They are focused on privacy issues, patients welfare, disease management, scheduling appointments, etc. Pharmaceutical reps are welcomed into the office because what they sell is relevant to the medical field. So for a salesperson to assume one identity to pitch an entirely different product looks unethical and sleazy.
Seriously. Is this the environmental where a physician is going to take the time to share personal information for discussing personal financial investments?
The Takeaway Lesson
Approach is everything! Let’s use an airplane as an analogy. When a pilot starts a decent he or she must start thinking about the landing well in advance before it actually happens. Wind direction, velocity, visibility–all these contribute to a successful landing.
In this situation our gentlemen-financial-advisor-sales-rep had plenty of time to think through the entire situation. First, he should recognize that a medical office is not an ideal place to go prospecting. However, we can all appreciate his desire to leverage the relationships he’s built as a pharmaceutical rep. Given this reality, what might he have done differently to prepare for this situation?
1. Write a brief letter introducing himself in his new role.
2. Walk into the office and quickly say, “I’m not here as a pharmaceutical rep but I know first-hand how busy you are. Please read this when you have a spare moment.
3. Make sure the letter is personalized to the needs of the medical staff in the context of the former relationship. (I.e. “As a pharmaceutical rep I earned your trust by introducing you to helpful products that improved your patients’ health. Now that I’m a financial advisor I can still continue our relationship with products that will stabilize your financial vital signs for good health.”)
4. Say thank you, have a nice day, and walk away.
Mike Krause is the Chief Sales Architect and owner of Sales Sense Solutions where he gives business owners the stellar sales they want by implementing the tools, tactics, and high performance strategies they need.
4 + 2: The Secret Code to Superior Business Performance
Apr 5th
4 + 2: The Secret Code to Superior Business Performance
By Mike Krause
If you’re rolling your eye at yet another claim to “a secret” or the “magic pill” to gain business success this post is for you. It turns out there really is a key to superior business performance and the intelligent minds at Harvard Business School have found it.
Over the years management ideas, tools and techniques have come and gone. Different approaches and theories have been implemented sometimes to the success of the user, other times…not so much. Harvard Business School wanted to know which management practices really work? They carefully examined more than 200 well-established management practices as they were employed over a 10-year period by 160 companies. The study was dubbed The Evergreen Project and the results surprised them in a big way.
Turns out it really doesn’t matter what you do. Read that again. There is no causal relationship to any specific technique to the outcome of business success. What does matter is a company’s grasp and ability to use the business basics. The study found that without exception the winning companies had a firm grasp on four management practices:
- Strategy. Your product must be sharply defined, clearly communicated, and well-understood by employees, customers, partners and investors.
- Execution. Develop and maintain flawless operational execution.
- Culture. Holding and nurturing high expectations matters most.
- Structure. Reduce bureaucracy and simplify work.
In addition to these four basics they had a mastery of any two out of the four secondary management practices:
- Talent. Hold on to talented employees and develop more.
- Innovation. An agile company turns out innovative products and services and anticipates disruptive events in an industry rather than reacting when it may already be too late.
- Leadership. Great leadership can raise performance significantly.
- Mergers and Partnerships. Some winning companies mastered mergers.
Winner, loser, climber or tumbler–the level of your success is defined by your grasp of the basic four plus mastery in two of the secondary practices, hence: 4 + 2.
So now you know the secret code to superior business success. And now you know why we at Sales Sense Solutions are so persistent when it comes to strategic planning. Strategic planning is not a gimmick. It’s not something reserved for the upper echelon of the Fortune 500. Strategic planning is for you, the small business owner and it’s what determines if you will be a winner, loser, climber or tumbler.
A Strategic Growth Kit
We assembled our series of articles on strategic planning for the small business owner. Think of each of these articles as a tool. Together they make a strategic growth kit full of the tactics and practical applications you need to achieve mastery of the 4 + 2. These articles will take you through the each step to measuring, establishing and implementing a strong, flexible strategic plan.
1. Strategic Planning Questionnaire: Step One for Strong Growth and Sales
Answer these questions for a current snapshot of your strategic plan.
2. How to Conquer the Strategic Growth Ghost
This is a basic approach to establishing a strategic growth plan–specifically how to identify your unique selling proposition and a unique value proposition. This is particularly important for consultants and small businesses; you can’t afford to be a generic commodity!
3. Your 5 Competitive Threats: Are You Digging Deep Enough?
This gives you the questions you need to ask to assess your assets, strengths, weaknesses, and vulnerabilities.
4. Street Talk: Internal Capabilities
Here’s how to objectively evaluate and pinpoint your internal capabilities and resources. These are a must-have to maintain a competitive advantage and survive as a winner or climber.
5. 20 Ways to Recognize Your Star Clients
Identify these clients and improve your operational execution, structure. Side benefits include an increased bottom line and vibrant company culture.
6. Cash Is King
Financial issues are a reality. Here is a collection of smart ideas to stretch your cash.
Here is how you manage your strategic plan so you can remain a winner and climber. Unbalanced companies are tumbling or losing.
Mike Krause is the Chief Sales Architect and owner of Sales Sense Solutions where he helps business owners stay ahead of the competition with stellar sales and high performance sales assessments, strategies, tactics and tools. Call him at (585) 704-6453 if you need help with any of these tools or want the strategic growth kit for your winning business.
