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Add You - Sales Management-Do The Inmates Run The Asylum
160 years ago, the newly invented electric telegraph carried the first news message. The message zipped 40 miles in a flash over wires from Baltimore to Washington, D.C.The public was dazzled -- except Henry David Thoreau. He wrote: "We are in great haste to construct a magnetic telegraph from Maine to Texas; but Maine and Texas, it may be, have nothing important to communicate."Today, we live in a Golden Age of communication. We have the Internet. We have faxes. We have e-mails. We have streaming video. We have on-line audio. We have RSS feeds. We have logs and blogs.Yet today Thoreau is as right as rain. When it comes to really getting our messages across, we're stuck in the Stone Age.Here's why. The vast majority of business leaders I've encountered are repeatedly making a huge mistake in co
What’s the root cause?
The next action is to step back and try to examine the situation from an outside perspective. Seek help from your mentor, your boss or ev
“Trend following” is a strategy normally associated with trading. You won’t see it associated with Top Web Entrepreneurs. This is surprising. The strategy serves both types of activities quite well. I intend to set the record straight with this article!First, A Bit Of BackgroundIf you lookup “trend following” on Google, it will report that some 286,000 pages mention the expression. I am willing to bet that most, if not all, are related to speculative trading.However, I am also willing to bet that Top Web Entrepreneurs, whether knowingly or not, use a strategy based on “trend following” to guide them in their choice of Web endeavors.Let me explain.I used to invest my money. That has brought me a certain significant return. But, it took decades of compounding the meager crumbs that the banks and othe
Do you pay the ransom?
This type of sales person knows the score and generally uses it to their advantage. The only way to handle a situation like this is to call the bluff. But it must be done in a calculated way by using objective numbers to your advantage. The first step is to determine if this sales person is really responsible for the sales performance or are they just a member of the “Lucky Territory Club.” The second question relates to the true potential of the territory this sales person is assigned to. Are they maximizing market share growth and profitability? In other words, their performance may look good based on the goals set but are those goals too low and do they reflect the real potential that territory represents. Consider doing a fair share analysis for this territory. (E-mail rick@ceostrategist.com for a sample Fair Share Analysis)
What’s the root cause?
The next action is to step back and try to examine the situation from an outside perspective. Seek help from your mentor, your boss or eve
A recent issue of Entrepreneur magazine included a marketing story with five important questions all business owners should be able to answer about themselves and their competition.Understanding these five critical areas will help you better develop and implement your marketing plan, and sell more to your customers and prospects.1) What does my customer buy?My clients know I am a big believer in the principle that customers don’t necessarily buy what we think we’re selling. (Al Lautenslager, owner of The Ink Well in Wheaton, Illinois, and co-author with Jay Conrad Levinson of Guerrilla Marketing in 30 Days taught me this approach many years ago.) The classic example is people don’t buy drills they buy holes. Similarly, they buy thrills, not NASCAR tickets. They buy vision and image, not eyeglasses. Memories, not
Do you pay the ransom?
This type of sales person knows the score and generally uses it to their advantage. The only way to handle a situation like this is to call the bluff. But it must be done in a calculated way by using objective numbers to your advantage. The first step is to determine if this sales person is really responsible for the sales performance or are they just a member of the “Lucky Territory Club.” The second question relates to the true potential of the territory this sales person is assigned to. Are they maximizing market share growth and profitability? In other words, their performance may look good based on the goals set but are those goals too low and do they reflect the real potential that territory represents. Consider doing a fair share analysis for this territory. (E-mail rick@ceostrategist.com for a sample Fair Share Analysis)
What’s the root cause?
The next action is to step back and try to examine the situation from an outside perspective. Seek help from your mentor, your boss or ev
Today, all over the world there are major deals and transactions occurring that can in due course change a company’s positioning power or simply have a detrimental affect on their earning per share for investors. Some countries, even third world countries are beginning to play a major role in the distribution of goods and services to world markets. Some major US companies are moving abroad and repositioning their business philosophy congruent in remaining competitive. With some of these departures of US companies where does the business student come in and how is he or she affected? How could they affect the national and international structure of business in the future?Students graduating from college within the next few years need to make a significant effort to include several areas that will be conducive to their success i
What’s the root cause?
The next action is to step back and try to examine the situation from an outside perspective. Seek help from your mentor, your boss or ev
I will buy from you again and again and again:If your "in-stock" claim is reciprocated by a prompt deliveryIf there are no hidden costs involved: if a product is priced at $10 on your product catalog page I should NOT be made to pay $18 for all the "add-ons" by the time I place the actual orderIf you promptly respond to my queriesIf my complaints and other issues are resolved without unwarranted delayIf your customer service department delivers exactly what is promisedIf you can clearly show me how your product functions/works and how it is going to benefit meIf your shopping pages load fast and smoothlyIf you can make your checkout point easy for me to complete my purchaseIf you visibly disclose a return policy; when the deadline for return is; and if you tell me when a
What’s the root cause?
The next action is to step back and try to examine the situation from an outside perspective. Seek help from your mentor, your boss or ev
I wasn't sure what to think when my husband called to tell me he got a new job. I guess I had really gotten used to the fact that his current job from home would mean that he was always here when I needed him. Now everything has changed.I start to think about things like picking the kids up from school, or doing the shopping with the 4 of them in tow instead of having him here to watch most or all of them.The money is great. Our income has just tripled. But in the long run will it be worth it? How do we cope with missing each other? Maybe we'll have to buy 2000 extra phone minutes per month so that we can text, and send images of ourselves, and talk whenever we get the whim.My life has certainly changed. I should be super happy about working less and being home more, but I'm torn. I'd rather be busy and have him
What’s the root cause?
The next action is to step back and try to examine the situation from an outside perspective. Seek help from your mentor, your boss or even human resources. This type of situation doesn’t happen over night. Reexamine your culture, your management style and the accountability of the organization. Is this type of behavior common place? Has it been tolerated before? Have you as the sales manager set precedent in the past?
In today’s environment Lone Wolf sales people generally don’t have as much ownership of the customers as either you or they think they have. If your company has a good reputation, services the customers well and have practiced tier level team selling, your risk of losing business by terminating this type of sales person is minimal.
Doing nothing is not an option
Allowing this type of behavior with no consequence sends the wrong message and it also gives permission to others that if they were that good at putting up numbers for the company they could do anything they want. Once you look at it from an outside perspective and see if the company has had complicity in the situation, then it is good to do a little self analysis to see if "you" have complicity in the situation. Frankly, in a situation such as this it is highly unlikely that the sales manager is not responsible for allowing this to happen. It is not about accepting this
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