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Slow Down, Sell Faster: A Review

Slow Down, Sell FasterThere must be something in the air that has created a flurry of books about how to sell by understanding how customers buy.  In  Selling to the C-Suite we learned that to sell to the C-level executive, you have to do your homework, gathering information and understanding what it is that executives need so that they can choose you.

The next book I received for review with the same focus on how customers buy was Slow Down, Sell Faster: Understand Your Customers’ Buying Process and Maximize Your Sales.  The author, Kevin Davis (@toplineleader on Twitter)  has over 30 years’ experience in sales and wrote Getting Into Your Customer’s Head back in 1996, so you know that he’s been drinking this lemonade for a long time.

What’s Inside the Book

Davis combines academic research and practical experience to generate a sales system you can use to not just improve your top line, but your bottom line as well.

Part I of the book is devoted to the actual sales system.  One thing I really like about this book is that it is actually written for an industrial or complex buying process.  Davis references established experts Webster and Wind, who have studied how bigger organizations make decisions to select a supplier.  And he uses decades of research and melds it with practical, real-life ways that business-to-business purchases are made.

Part II expands on the selling system by introducing what Davis calls the eight roles that you have to play in the customer’s buying process:

  1. Student: Use Knowledge to Gain the Edge
  2. Doctor: Diagnose Small Problems, Define Big Needs
  3. Architect: Design Customer-Focused Solutions
  4. Coach: Make a Plan to Defeat the Competition
  5. Therapist: Understand and Resolve a Buyer’s Fears
  6. Negotiator: Reach a Mutual Commitment
  7. The Teacher: Teach Customers to Achieve Maximum Value
  8. The Farmer: Cultivate Customer Satisfaction and Loyalty

Part II contains one chapter on coaching to the eight roles.  It’s written for sales managers and the people who work for them.  It provides a series of cheat sheets and troubleshooting tables to help sales managers and sales reps debrief sales calls.

If you’ve had any professional sales training, you will recognize many of the principles and techniques represented in this book.  For example, I’ve had Sandler Sales Training, and I easily recognized what I call the 10-point scale technique.  Simply ask your customer to rate the solution you’ve come up with like this: “On a scale of 1 to 10, where 1 is ‘not at all what I want’ and 10 is ‘this is the perfect solution,’ how would you rate the solution we’ve discussed?”  If they answer anything less than an 8, ask, “What would you need to see to bring that to a 10?”

The book is full of strategies, tips and hints at every level and at every point of the selling process.  Davis uses a layered approach where he introduces the selling system, then overlays the roles of the salesperson through the buying process and guides the reader to success.

Here are just a few examples of some of my favorite pieces of information:

The Decision-Making Hierarchy: This is perhaps the simplest and best description of what’s important to each level of the organization and how you should structure your message:

  • CEOs – They are at the top of the pyramid, and profitability is what you should focus on when talking to them.
  • Mid-Level Managers – The middle or core of the pyramid.  These people are most concerned about solving operational problems.  The departments typically represented here include marketing, operations and customer service.
  • Support – This is the base of the pyramid and includes accounting, purchasing, training and legal departments.

While most books tell you to aim straight for the top of the pyramid, Slow Down, Sell Faster reveals the truth that most salespeople don’t have anything of substance to say to C-level execs until they’ve gotten their feet wet a little further down the pyramid.

Slow Down Sell Faster Is a Serious Sales Book Focused on Sales Training and Improvement

This is a fantastic book for any business-to-business, technical or industrial CEO with full-time, direct salespeople who sell high-priced, high-involvement products and services to companies where more than one person is involved in the decision.

Don’t expect to read Slow Down, Sell Faster in one sitting and then see immediate results.  This is a comprehensive, detailed and perceptive book about complicated sales situations.  You’ll want to read this book section by section and then take the time to implement and practice specific strategies.  I’d recommend that you visit the Slow Down, Sell Faster section of Kevin Davis’ website where you can download Chapter 1, “Why Slower is Faster,” and experience the book for yourself.

Overall, this is an extremely powerful book that will challenge your thinking and your sales process.  And like a good workout and diet, I think you’ll find the results well worth the effort.

From Small Business Trends

Slow Down, Sell Faster: A Review

View full post on Small Business News, Tips, Advice – Small Business Trends

Turning the habit of self-criticism upside down

Perhaps this sounds familiar:

When it’s time to write a resume or talk to a boss or discuss a project glitch with colleagues, the instinct is to spin, to avoid a little responsibility, to sit quietly. Put a best face forward, don’t set yourself up.

When reviewing just about anything you’ve done with yourself (in your head), the instinct is to be brutal, relentlessly critical and filled with doubt and self-blame.

What if they were reversed?

What if the habit of the project review meeting was for each person to put their worst foot forward, to identify every item that they learned from? What if we took responsibility as a way of getting more authority next time?

And the flip side–when talking to ourselves, what if we were a little more supportive?

It’s not an easy habit, but it works.

View full post on Seth’s Blog

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Getting Right Down to It

Getting Right Down To It

One day I was getting ready to dig in on a new batch of cartoons.  So, like any techie, I quickly tweeted, “Digging in on a new batch of cartoons.” Then a friend texted me something, to which I again responded, “Chat later. Digging in on some cartoon work.” Then as I was closing out my browser, I noticed a response to my tweet on Facebook which I, of course, responded to.

So after about 10 minutes of broadcasting that I was “getting down to work” - I actually got down to work.

But not before I wrote this cartoon down.  At least something came out of all that “preparation.”

From Small Business Trends

Getting Right Down to It

View full post on Small Business News, Tips, Advice – Small Business Trends

Small Business Success Index: Competitiveness Is Down, But Optimism Is Up

Network Solutions and the Center for Excellence at the University of Maryland’s Smith School of Business have just released their 5th Small Business Success Index survey, providing some interesting insights into the state of small business today.

Specificially, the focus of the SBSI is to track the competitiveness of small businesses over time. The news there is not good. “The competitive health of America’s small businesses is as low as it has been since the Small Business Success Survey began tracking at the onset of the recession,” the report states (the first survey was done in early December 2008).

The SBSI defines competitiveness as “the level of success a small business achieves in conducting the organizational activities critical to its short and long term viability.” Small businesses that are more competitive are more likely to meet the personal and business goals of their owners and show positive financial results.  The SBSI measures six dimensions of competitiveness: Capital access, marketing and innovation, workforce, customer service, computer technology and compliance.

Competitiveness Is Down, Optimism Is Up

The SBSI ranges from 0 to 100, and is currently 73, which is considered a “C-”.  This level is unchanged from June 2010 and down from a solid “C” just over a year ago.  In addition, more businesses than ever are classified as “failing” in terms of competitive health based on their individual index score. Twenty-eight percent of small businesses are failing at competitiveness, in comparison to 19 percent two years ago when the recession had just begun.

Here’s how small businesses stacked up:

  • 20% are Highly Competitive (an SBSI score of 85 or higher)
  • 28% are Marginally Competitive (an SBSI score of at least 75 but less than 85)
  • 25% are Marginally Failing (an SBSI score of at least 65 but less than 75)
  • 28% are Failing (an SBSI score below 65)

What’s pushing competitiveness down? One not-so-surprising factor is lack of access to capital. “For the past two years, small businesses have consistently suffered from weaknesses in the critical [area] of Capital Access,” the report notes. Capital access rated a 67 (or D+).

Perhaps more disturbing, small businesses’ competitiveness in the marketing and innovation area declined to 65 (D), a significant drop from December 2009 when it was a C-. In particular, small businesses’ ability to identify new customers and to position themselves effectively against bigger competitors is decreasing.  The result, the report notes, is “an unprecedented lack of confidence in competing with big business.” Small businesses report that positioning their companies as having the same capabilities as bigger competitors was a key challenge, and just 33 percent say they are successfully competing with large companies, compared to 47 percent a year ago.

Finally, small businesses have also suffered a decline in the past year in the Workforce competitiveness dimension. Their ranking slipped from a “C+” last year to a “C.”  Compared to a year ago, small companies report they have been less successful at training employees and maximizing their productivity.  They also face a perceived disadvantage in hiring quality employees, which could be a hurdle going forward as they prepare to hire.

And yes, they are getting ready to hire. There’s some good news in the SBSI as well. More than 25 percent of respondents plan to hire this year; technology investment is increasing; and more companies are adopting social media. Although their competitive health is poor, the survey found entrepreneurs were growing more optimistic about the economy and their own businesses’ futures. For the first time in two years, more small business owners said the economy was getting better than said it was getting worse (35 percent vs. 19 percent).

Small businesses are also more optimistic about the economic outlook for the next 12 months than they were a year ago. At that time, 26 percent thought the economy would decline; today, just 15 percent say so. The percentage who say they are being affected by the recession is also declining, after peaking last year.

How do these figures resonate with your experience and outlook?

There’s lots more in the SBSI—too much to share here. Read more about the Small Business Success Index and download the full report at Network Solutions’ website.

From Small Business Trends

Small Business Success Index: Competitiveness Is Down, But Optimism Is Up

View full post on Small Business News, Tips, Advice – Small Business Trends

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Verizon Battens Down the Hatches for Verizon iPhone

Today is the first day you can order the Verizon iPhone (at preorder.Verizon.com/iconic or at the Apple Store). To prepare for the network load once the phones are delivered, Verizon will automatically reduce image and video file sizes, as well as reducing data speeds for the top 5% of data users. MacWorld has the scoop:

The first practice involves optimizing and transcoding some content in order to reduce the strain on its network capacity. The idea is that automatically reducing the file sizes of images and videos will help keep Verizon’s tubes from getting clogged. The carrier also attempts to skirt claims of net neutrality foul play by stating that its optimization process is agnostic to content and the Websites it is coming from. Further, while “any change to the file is likely to be indiscernible,” you may notice some “minimal impact” on appearance. The document does not specifically warn owners of the iPhone 4 and its high-resolution Retina display, but it probably should.

The second new network management practice Verizon announced in this document, and one that the carrier ties specifically to a launch date of February 3 (the first day that Verizon began offering pre-orders for its version of the iPhone 4), is bandwidth throttling for heavy users. “If you use an extraordinary amount of data and fall within the top 5 percent of Verizon Wireless data users,” the document says, “we may reduce your data throughput speeds periodically.” Verizon says it will police your data connection only during your current billing cycle and the cycle that follows, though, so it sounds like heavy users won’t be placed on a permanent black list.

Verizon finishes with a very Vulcan justification for its practice of throttling the few for the good of the many. “Our proactive management of the Verizon Wireless network,” the document reads, “is designed to ensure that the remaining 95% of data customers aren’t negatively affected by the inordinate data consumption of just a few users.”

When it comes to AT&T’s mistakes, Verizon is an apt pupil. If it pulls the Verizon iPhone launch off without network hiccups, it will be the corporate equivalent of thumbing its nose at AT&T.

Read this article for a more detailed breakdown of the new Verizon iPhone, and a comparison with AT&T.


View full post on Business Pundit

Gov. Cracks Down on Health Insurers

The federal government will begin demanding more transparency from health insurers as part of the health care rules. From the Washington Post:

…next year any insurer seeking a rate increase of 10 percent or more for an individual or small group plan would be required to file financial information justifying the raise with federal and state officials. (Beginning in 2012, the percentage rate increase that triggers the review will be adjusted for each state to reflect its particular market trends.)

State authorities would then analyze the data submitted by the insurer to determine if the increase is “unreasonable.” If federal officials determine that a state lacks the resources or power to conduct such a review, the federal Department of Health and Human Services would step in to conduct it.

Either way, if a rate increase were found to be unjustified, that finding would be posted on both HHS’s and the carrier’s Web site along with the company’s financial disclosures – including, for example, how much it is compensating top executives.

The law does not give federal officials the ability to reject the rate increase outright. However, administration officials say they believe that shining a spotlight on unreasonable increases could discourage insurers from moving forward with them.

More transparency in health insurance can’t be a bad thing. That said, this is a mild step for the Obama health plan, which, while it has bigger plans waiting in the wings, could also be pending a Supreme Court battle.


View full post on Business Pundit

AT&T Throws Down $1.9 Bil for Better Reception

AT&T spent $1.93 billion for wireless spectrum from Qualcomm Inc. This spectrum will give users better AT&T reception, especially inside urban buildings, according to Bloomberg, which has the story:

AT&T Inc., the second-largest U.S. mobile-phone carrier, agreed to buy wireless spectrum from Qualcomm Inc. for $1.93 billion as customers increasingly use bandwidth-hogging services such as video downloads.

The spectrum, in the lower 700 megahertz frequency band, covers 300 million people in the U.S., the companies said today in a statement. Chipmaker Qualcomm had acquired the spectrum for its mobile-TV service, which it plans to shut down in March.

AT&T is upgrading its third-generation network to allow for higher speeds while it works on building out its fourth- generation network to debut next year. Larger rival Verizon Wireless turned on 4G service earlier this month.

The Qualcomm spectrum will help AT&T alleviate network- congestion problems such as those experienced by its customers who use Apple Inc.’ iPhone, said Craig Moffett, an analyst at Sanford C. Bernstein & Co.

Good thing for AT&T that Qualcomm’s mobile TV service never worked out.


View full post on Business Pundit