how to motivate people to buy

If the purpose of JV marketing is to build your business, then you want to be ready for those new customers with effective advertising strategies that motivate them to buy. There is a psychology involved with purchasing that continues to be studies and refined, but a number of basic principles have been established that can help you increase your bottom line.Consider these motivational factors to see which ones you can incorporate into your JV marketing strategy.A NeedThe most basic motivational factor in making purchases is a basic, fundamental need. We need to eat, so we head to the grocery store. We need to get to and from work, so we spend a few hours at a car lot.When it comes to filing a basic need, most customers shop around for the product that offers them the best value. In these cases, showing how your product blows away the competition may be a good purchase motivator for your customers.A Perceived NeedSome needs are real and some are all in the head. You may decide you "need" a new printer because your current one runs a little slow. You may decide you "need" a closet organizer because your possessions are jumbled up inside. These perceived needs to not fulfill a basic requirement of survival, but they can make life easier and more convenient. In some cases, you need to showcase the perceived need first, so your customer realizes how much easier his life will be with your product.A DesireWe all have them: the desire to show up for work in the hottest car or enjoy a home entertainment system that lacks for nothing. Sometimes our desires get in the way of our needs, so we choose the items we want over the products we must have. To cash in on desire purchases, JV marketers must work to evoke a mood or emotion that inspires the customer to go through with the purchase.Human PsycheWithin these three basic categories, there are fundamental psychological factors that motivate nearly all human decisions. These include:- A need for more time, through convenience items
- A need for more money, through economically priced items
- A need for knowledge or self-improvement, which can be met through a variety of sources
- A need for love and sex, through products to rekindle your relationships or make you feel more attractive
- A need for security, which can encompass many aspects of the retail market
- A need for comfort, which is filled through a variety of home and entertainment itemsHumans also have a need to perpetuate youth, as we have seen through product lines designed to make you look and feel younger from the inside out.If you can tune into these basic needs, you can find the most effective ways to market your own goods and services, thus making the most of your JV marketing partnerships. When you begin to understand what makes people tick and what motivates them to buy, your advertising will become much more effective and your business will grow.

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telephone sales skills are you asking

Telephone sales skills can be used to assess your sales introduction and make sure you're not annoying your prospects with a question that can stop you being successful.Many telesales people and appointment makers ask their prospects the question: How are you today, during the introduction stage of their call. Recently I received 3 sales calls where the caller asked me this question and it made me look at my own sales team's cold calls and make some changes.I am usually polite when I receive sales telephone calls. Years ago I use to do their job so I know how hard it is. I also want to see if there is anything I can learn from the calls so I tend to answer as if it was a role play in a saes training session. But on the third call I received, when I was again asked, 'how are you today', I had a natural reaction and responded as a real prospect instead of a sales manager acting out a role play. On the third call I responded with, 'Why are you asking me that, do you know me.'This was a natural response made without thinking. It was a reaction to the question I had been asked. The caller had lost any chance of success at this very early stage of the call. This made me wonder how this question made real prospects feel and should my sales teams use it on their calls. So let's look at the positives and negatives of using the question: How are you today.The negatives The prospect may think you are being false. You don't know them and they don't know you, so why would you be cold calling a complete stranger and 3 lines into the call asking them about their health and well being? Asking,' How are you', on a cold call could lose you any chance of making a sale or setting an appointment.The prospect may become impatient. Many people receiving a cold call will want you to get to the point and give them your reason for calling. Then they can decide if there are potential benefits for them if they listen to you.The question is not connecting you with the prospect. In my telephone sales skills training sessions I emphasise the importance of the introduction stage when cold calling. This is when the prospect is searching for points of reference. Their mind is trying to make connections. They take in and understand information by connecting what they don't know to things that they do know. A question about their health does not give them any points of reference and makes the communication of information difficult.The positives They could think that you actually care. You are showing the prospect that you care about their well being, but only if you can make it sound genuine. It can be a sign that your relationship with the prospect is growing. It is good manners and something we ask an acquaintance or a friend, or a business contact we have a relationship with.If the prospect answers you it can break the ice and help build rapport. But remember, they could start giving you a long story about their illnesses and problems.My conclusion Having effective telephone sales skills means you can make decisions about what to include in all the stages of your telesales and sales appointment calls. If I was deciding on whether to ask a prospect how they are, I would not use it when building a cold call script as I could lose the sale at the introduction stage. I would use it when phoning existing customers or prospects that I have spoken with before. If phoning to different parts of the world I would try to discover if asking this question is considered usual business practice or good manners in that particular country.

Original :: telephone sales skills are you asking

story telling or story selling

In any business, story telling is a powerful tool, specially if you are in the direct sales industry. If share at the right time in the selling process, it can allow you to connect with your customer, engage with them and tell them why they need your products or services or why your solution will work for them as it did for others before.A good story should possess the power to hold the attention of your customer. It should provide an entertaining experience for the listener and be easy to remember and retell, just like The little red riding hood story. Recreate the experience, make them feel like they would be in that situation by using sensory details, smell, taste and feelings.The keyshere is to relate the story to your audience. By having different stories for different scenarios, it will help your customers with their respective problems. In short, a story for each problem. A few example of stories would be like; "I had a customer with the same questions" story, "Somebody that didn't want to change vendors" story. This is more powerful then any brochure or testimonials.Listen very carefully to what your customer is telling you first, you will then be able to relate to him with the right story (like you help someone else in a similar situation story) to help him solve his problem or meet his needs. That way your customer will see that you care about him and want to help him. You will establish a connection with him and he will be able to relate to you.Every story has these five elements in them; 1-A Hero (your client) and his situation(he is broke, he is lost, no job, no time,hungry)I know you get the idea here. 2-He has a reason to go on a journey, a quest(why does he want to change, why does he want something different, what are his goals) 3-A huge challenge was met (he doesn't have the resources available now, does not know how to get the girl in the tour, does not know how to start his own business) 4-With my help the client overcome the obstacle(get the tools he needs to fix his problem,Just think about Donkey when he save Shrek with the Dragon at Fiona's wedding, You are like Donkey but Shrek(your Client) is still the hero. 5-A powerful delivery (increase his gain, profit, money, bought a house,help more people, get the girl!)Here you have it.Now it is time to Practice. Start with your family and friends, and ask them what tone, excitement, visual/facial expressions, they like best and why.Relax and enjoy the story telling process just like you did when you were a kid. My Favorite is The three little pigs. The more I read it to my kids the more comfortable I am. I enjoy changing the expressions on my face, the pause in the reading (to see the look on their faces), the tone of my shaky or scary voice, the excitement it rises, it all become more naturally and more fun each time!Story telling is an art and practice makes it better. Use it in your selling process to explode your business!

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faulty employee scheduling and training

During these tough and uncertain economic times corporate managers everywhere are desperately seeking ways to effectively achieve the following: cut their costs; boost overall employee productivity; maintain the financial bottom line; increase customer sales and loyalty; reduce the overall employee headcount.In actuality the true maintainer of the theoretical bottom line, the purchasing consumer, suffers when faulty scheduling leads to a visible lack of sales staff to assist them with their purchases. Customer frustration rises and potential sales lost due to poor managerial planning.The following cautionary tale illustrates the frustration typical customers experience when no sales staffare present to assist them with their intended purchases.I recently visited one of those mega mall department stores with the intention of buying a leather wallet for myself. My current wallet had seen better days and was probably still serviceable.The compact plastic windows that originally held my credit cards needed replacement. There were now only nine insert windows remaining and they were in a somewhat tattered condition.Since these replacement windows were impossible to find the last time I needed them I was this time forced to purchase an entirely new wallet for myself. I do try to be frugal and economical.I entered this particular department store around 10:30 a.m. The interior was bright, cheery and well lit. The wallets were displayed in the mens' department and I navigated my way up to the second floor using the escalator.I meandered my way slowly to the display case where the wallets were displayed. There were a number of well known manufacturer names displayed there. I took my time and judged each wallet based on my current need and price range. The prices of many of these had been somewhat reduced. I guess sales was not that brisk.As I examined each boxed wallet I noticed a few peculiar things that many other shoppers this day were also noticing. There were no on floor sales personnel present. This made it that much harder to ask for assistance. The customers in the store knew what they wanted to buy but no one was there to assist them with their purchase.As I rummaged around the display case I also noticed that a number of the wallets lacked a sticker price and a Universal Pricing Code. It would be convenient to know the price of the object I wanted to buy so that I could make a decision based on the amount of money I wanted to spend.Five minutes passed and I scoured the sales floor to locate a sales associate. This search proved to be unsuccessful. I wanted the item and now had to track down a sales person to ring up my order. A few other customers in the mens' department also joined me on our quest to locate a store representative. There were now three of us needing assistance.At last we found an associate who could assist us. She told us that this was really not her usual department and that she and another female associate were the only ones on duty for the first hour of store operations. She also told us she was also handling the customer service register at three other on floor locations.The male customer carrying his young daughter, three dress shirts and socks decided to make his purchase another day. The older lady in front of my only wanted to purchase a birthday card for a friend. The cashier efficiently rang up her purchase.It was finally my turn to be cashiered out. The woman smiled, took the boxed wallet from my hands and proceeded to ring up my order. However, she paused and began a frantic search to locate a U.P.C. code to register the order for the sale.She apologized for this inconvenience. Then she and I returned to the display case to find a similar wallet with a price tag to complete the order. We walked past five customer assistance registers still inviting but unmanned.At the display counter we both fumbled with a number of similar and not so similar wallets which might have a sales tag and UPC code label affixed to it. This search lasted four minutes. Finally in desperation she picked up a wallet somewhat similar to the one I wanted, read the price and asked me if the price quoted on the label would be acceptable. The price read $36. I told her that would be fine.We once again returned to her customer service kiosk in the childrens' department and she rang up my order. As she rang up the order other customers in the area bombarded her with queries and questions about items in the store. She politely thanked me for my purchase, again apologized for the inconvenience and wished me a good day.In itself this was an educational experience for me. The sales associate handled herself well and her demeanor and friendly disposition turned this into a positive customer experience.On the negative side store management should not only reward this associate for her deftness and expertise in handling stress but also rethink their on site policy regarding the start times of their sales staff.Generous advertised discounts and spontaneous manager in store bargains are all well and good but top notch customer service and serving customer needs should be maintained in many managerial training seminars.

Original :: faulty employee scheduling and training

sales motivation technique that gets you

This sales motivation technique will put you in a positive mental state so that you can make the best possible use of the skills and techniques that you have. Whatever you call it: Playing from a 10, the Sales Buzz, Floating your boat, or being in the now, this self motivation technique will put you there.One of the biggest challenges for sales people is how to get motivated before every sales appointment or cold call. We can all do it some of the time, but what about the first call of the day, or the last call in the evening. How do you get motivated after a really bad meeting with a prospect, or when you're running late because the car let you down. Then there are the other areas of ourlives that impact on our motivation state. Home life, family, relationships, and what about your boss, does he or she always leave you feeling great and ready to make a sale.Use this sales motivation technique before every appointment and you will be ready to give it everything you've got, and be at your best from the first lines of your sales introduction. It works by focusing your mind on the connections between the different sales stages. You will be linking the words you will use in your introduction, with the questions you ask at the sales questioning stage, and the lines that will close the sale. While you are focusing on these connections, and building and re-enforcing mental pathways, you are blocking out negative thoughts, defeating self talk, and stopping those dark pictures. This puts you in the now, focused and motivated on using all your sales skills with the next prospect.Start by thinking about a common need or desire that your next prospect might have. Define the need as if you were the prospect. Now select a feature that your product or service has that will meet that specific need or desire. The next step is to describe how that feature fulfills the need or desire. This is the benefit that your product feature gives to the buyer. The technique is called the Need-to-Close-Chain and you may be thinking it's too easy, too simple, or that it doesn't do anything for your motivation state. Stick with me, I've used this with my sales teams and believe me the effects are really worth the effort.Now let's speed it up. Pick a need, want, or desire your sales prospect may have. Describe it and move straight into selecting the feature that will meet the prospect's requirements. Without any hesitation present the benefit, the way the feature actually gives the prospect what they want. Now try again and this time select a need that isn't so easy. Define it out loud then go into a presentation of the feature and the benefit. Can you do it without hesitation, with a smooth flow from need to feature, then to the benefit?As you try and complete the links of the chain faster, and focus on matching more difficult needs to features and benefits, you will find you focus more intensely. You start to block out external thoughts as you want to learn more about the connections. This narrowing of focus puts you in a selling state and heightens your motivation. Use the Need-to-Close-Chains for just a few minutes and this sales motivation technique will put you in a positive mental state so that you can make the best possible use of the skills and techniques that you have.

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know how to get to the decisionmaker of

If you are trying to sell your product or service to a company, there is a few thing to consider before calling the sales done. First of all you have to introduce yourself to someone inside the company, and that person may not have the power to says yes to you but can give you useful information about the company, the product they currently use, the impact on his work and production if he use your product or service. Maybe you would be meeting the big guy first that has the power to say yes to your product and service.The way I look at it is that there is a few level of entry in a company, all of these level of people inside the company have all a very important role in your selling proces.The First level here is the person who would be 'using' your product or service. This person will be able to give you useful information about who is who in the company. It is usually the sales level. If you can convince him that you product can benefit him as far as saving him time, that it is easy to use, and that he could make more sales, he would be more inclined to help you if it helps him first.The Second one is the one has no power as far as making decisions but needs all the data information. They want only information, they are problem/solution people. They like to be praise and get involve. They best way to win them is to get them involve or even put them in charge in a custom implementation of your product or service. If it make them look good and have a data information to support this they will direct you to the next level faster than you taught.So the Third level here is Management. The one how has the power to influence the Big Guy. Remember that they are the one to direct and achieve the goals set by the Big guy. Earlier on, you may have taught that meeting with the user was meaningless on some level, wrong. This is the time to talk to management about what the user taught about your product, if he said that it would cut his paperwork time by 40%, that he would sales maybe 20% of his usual, maybe Management would see this as using this time to increase productivity. At this level, you should know exactly what their buying motive are.And last but not the least, the Big Guy, who is the decision maker, he his interested in how much profit your product or service will put in his pocket at the end of the day. There are interested in Increasing sales, reduce risk and increase productivity, not the features of your products. If your product opens up opportunities for the company, what is the ROI, if it increases their market share,the quality of their product. If you can show how your product or service would benefit his company, by presenting tangible and quantifiable results, you can use the testimonials from all level of the company and your value will be assured.No matter at what level you enter in the company, it is important that you leverage all the information gathered before you present it to the Big guy. And make sure you did your homework by making a list of the potential value of the product and services and the solutions you plan on delivering to the company, be prepare to show the positive impact on his objectives, before you get to see him!

Original :: know how to get to the decisionmaker of

sales prospecting tips

Sales prospecting is probably one of the least fun things to do in business. It takes a lot of work, discipline, and consistency. It may also seem like the results aren't that great. You expend all this energy, but only have a few sales to show for it. But here are a few tips that will help you get better results from your efforts.1) Be proactiveProspecting is usually only done when sales are down. You need to make more money, so you go looking for sales. But this can come across to the customer as desperation. They can sense your need for the sale and balk at what they perceive as pressure. If you prospect when sales are up, you seem more relaxed. You can focus more on what you can offerthe customer, as opposed to what the customer's money can do for you.2) Look for high-percentage opportunitiesProspecting the wrong people isn't going to help your business. You can't sell a square peg to someone with a round hole. Think about what you can actually offer the customer. If you can't help them, then don't worry about it! Go find someone you can honestly help. What you want to do is produce results, not just activity. If you're selling square pegs, spend your time talking to people with square holes. Both you and your prospect will be happier.3) Think long termSales prospecting isn't about making a sale right now. It's about building a relationship with another person so that they want to come to you for a solution to their problems. You probably won't walk into a business for the first time and walk out with a check. But you can introduce yourself, find out what they're looking for, and describe how you can help them. Build a level of trust by focusing on their needs and after talking to them several more times, they can see that you are honestly trying to assist them, rather than make a sale and run.4) Follow upThis one is easy. Do what you say you are going to do! If you schedule a time to call back with more information, then make sure you call at that time. This is about respecting your client. If you say you're going to do something and you don't do it, the client will assume that you really don't care about them. If you have to cut short another conversation to meet your commitments, then do it. If you are consistently delivering on your promises, the person you cut off will understand that this is how you do it. They should appreciate your integrity because the next time you promise them something, they know you will deliver.These 4 sales prospecting tips, when done consistently and with discipline, will help you be more effective in your efforts. You will produce more results, and have a healthier business. Prospecting is not easy, but it is simple. It just takes the proper technique. Isn't your business worth whatever it takes to be successful?

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vision guides your destiny in sales and

Driving to spring training in Florida, the famous baseball player and manager Yogi Berra and his wife were terribly late. They were driving all night and Yogi's wife fell fast asleep. To make up for lost time, Yogi took a short cut that eventually turned into a dirt road with more dirt than road. His wife suddenly awoke, very startled and said to Yogi, "Honey. I think we are lost." Yogi always ready with a quick quip, replied, "Yeah but we are making great time".Without vision, you may get somewhere, but most likely it will be the somewhere you don't want. Vision guides your destiny. It did for Gary Player. As a young lad growing up in South Africa, Gary had the vision of his greatness. Gry would stand in front of a mirror and say over and over "You are going to be one of the greatest players of all time". Gary Player's vision shined very brightly, and guided him to become one of the greatest golfers of the 20th century.Vision can create our end point-even if one does not currently exist. When Tommy Burnett entered University of Virginia in 1993, he declared to his professor that his vision was to be a special effects expert on a Star Wars movie. Unfortunately for him, the last Star Wars movie was made ten years earlier.Given that predicament, most people would choose another direction-Not Tommy. He had a vision of bringing to life his favorite science fiction characters on the silver screen and making them appear real. He read everything he could get his hands on regarding how to create special effects and how to program these effects. He became an expert on a new computer programming language called Python.Fortunately, Industrial light and Magic, the company owed by George Lucas which creates Star Wars movies, needed someone who knew Python. Tommy was their man and was hired to develop special effects for the Star War movies in 1999, 2002, and 2003. Tommy's vision created his destiny.Our vision is our light. We all need this light-in a sense, it is a survival mechanism. Psychologists discovered that when mice were placed into a tub with no way out, they would stop swimming after 45 minutes and drown. However, if the mice had a light shining upon them, they would continue to swim for 36 hours. The mice were motivated through the darkness by a vision of light.Vision guided Christopher Reeves throughout his darkest hours-his vision was the light at the end of his tragic tunnel. Christopher Reeves rise to fame was fierce, propelling him to the top of the Hollywood game in the 1970's. Then tragedy struck. During an equestrian competition, his horse threw Reeves who landed on his neck, His injury was so severe that he was paralyzed from the neck down. But Reeves had a vision that would guide him through the next ten years-at his forty-third birthday party he announced that he would stand up and make a cheer at his 50th.This vision propelled him across the globe, making countless speeches and pleads for money for spinal cord research. He was dedicated to find a cure. Unfortunately, this vision did not come to fruition, and he did not stand to toast his friends on any birthday following the accident. Sadder was his death at the age of 52 of a heart attack. However, his memory and his vision still guide his foundation to find a cure in the future.In his book, Power of Purpose, Dick Leider interviewed hundreds of people in their seventies and eighties. He asked them two simple questions: "if you could live your life over again, what would you change?" and "What is the wisdom that you would pass on?"One of the most frequent answers given was that they would have had a better vision for their life's direction and that this vision would have made a difference.Those answers from our elders send a clear cut message-Find a vision for your life that has meaning. According to the ancient philosopher Seneca, when a man does not know what harbor he is sailing for, no wind is the right wind. Zig Ziglar, a present day motivational guru, has noted that the happiest people he knows are those who are working toward a vision whereas the most bored and miserable people are drifting along with no worthwhile objectives in mind. They sail with any wind.The issue with vision is twofold; First, many people do not know their true vision, and second, their career choices are not in line with their true vision. Becoming aware of your true vision and having that vision aligned with your career may be the most difficult task a person can accomplish, but it is essential. The following drills will help:Don't wait for your mortality sandwich:Deborah Winger called it "a mortality sandwich". When she was young, she had planned to be a researcher for criminal investigations. As Winger describes it-she wanted to be an investigator just like in the show CSI. Then she had a terrible but fortuitous accident with a truck. It was an accident in which she had a clear look at her mortality. This situation made her change directions and follow her true vision-to be an actress. And as we know, she has had a incredible career, starring in such megahits as An Officer and a Gentleman, Urban Cowboy, and Terms of Endearment.Don't wait for your mortality sandwich. Eat life up!Aligning your career with your visionFinding a better direction was easy for John Sculley. When Steve Jobs was looking for a man to hold the helm and steer his new company, Apple, he approached Sculley. At that time, Sculley was president of Pepsico and had a wonderful career. However Steve Jobs approached him and asked him if he wanted to make sugar water all his life or change the world-the choice was easy for Sculley. He wanted to make a meaningful difference, so he left and joined Apple so that he could help change the world.Are you struggling to align your career with your vision?The first step is to create a purpose statement. A purpose statement is a vision about what we believe will give meaning to you life.
To develop an effective purpose statement, here are a few questions to guide you:? Who do you admire and why?
? What have been some great contributions to our world?
? What do you see as meaningful?
? What significant contributions would you like to make to the world?The next step is to list your values. Martin Luther King Jr. once stated, "I do not want to have the finer things in life-All I want to leave behind is a committed life. King valued a committed life, a life dedicated to changing human rights.What do you value most? These may include money, civil rights, creating a useful product, helping the homeless, or other values such as creating a better world and/or better environment for our children. List 10 of your key values.Now here is the kicker. Pick 2 or 3 careers (or different jobs within your current career path) that you think are in line with your true vision. Write a persuasive paragraph for each career, as you would be writing to a friend, and tell this friend how your purpose statement and values are aligned with this particular career.The paragraphs that are a difficult write-that is, the careers that had to be bent and pushed to fit into your statement and values, are probably not a good choice. This career choice is out of sync with your true vision.On the other hand, the paragraph that was the easiest write-the one that was the best fit for your purpose and values, will be the correct choice and a step toward following your vision.Henry David Thoreau once stated, "We only hit what we aim at". I would add-We need to know where to aim-this chapter will point you in the right direction.This article is excerpted from the Washington Post Best-Selling book "Full Throttle: 122 Strategies to Supercharge your Energy and Performance at Work" by Dr. Gregg Steinberg

Original :: vision guides your destiny in sales and

sales terminology 101

Upon beginning a search for a new sales professional or business development employee, there are sales related terms that you should be familiar with. Listed below, are 11 different terms that should help you in your resume search.Business Development - business development is just another word for "sales." However, when sales candidates have the term "Business Development" on their resume, potential employers may perceive them to be a "Hunter" rather than a "Farmer."Hunter - just as the name sounds, a hunter is a term for a sales representative that actively goes out and finds new business. A hunter is the opposite of a farmer.Farmer - a farmer, in sales is someone who is considered to tke more inbound business than go out and do new business development or a.k.a. be considered a hunter.Sales Quota- sales quota was how much revenue the sales representative was responsible for driving at their last or current position. When looking through resumes, you always want to match quotas.For instance, a sales representative who carried an annual quota of $300,000 would probably not be good for a job which requires the business development professional to carry a quota of $10m.Industry Verticals Sold Into - a vertical is just a fancy term for an industry. When looking at sales resumes, you want to match up verticals. To give an example, if someone sold software at their last position into the education vertical, they are not a fit for a job that requires hair care sales into salons.Cold-calling or Prospecting - cold-calling or prospecting is a key phrase that most clients want to see on a resume. This is the act of contacting a potential client who does not know you and beginning to establish a relationship to begin what is called the sales cycle.Sales Cycle - a sales cycle is the length of time it takes to close an account from start to finish. Typically, the larger the monetary value of the account, the longer the sales cycle is going to be. Depending on the industry, sales cycles can range from 1 month to 1 year.Again, when hiring a sales employee, you want to match sales cycles. A business development representative who is used to dealing with a sales cycle of 1 month may not be as successful in a job that is conducive to sales cycles of up to a year. Obviously, there are exceptions. However, this is something clients typically want.Industry Contacts - candidates who have contacts in the industry in which the client hopes to sell into are worth more on the open market because they don't have much of what is called ramp-up time.Ramp-up Time - ramp-up time is the time it takes a sales representative to learn the product and, subsequent company that just employed them. Obviously, things like industry knowledge and industry related contacts whom they can sell to in a quicker fashion, lessens the length of the perceived ramp-up time. This leads to quicker ROI from the hire.30 / 60 / 90 - presentation that a potential sales employee lays down which includes a sales game plan for the first 30 / 60 / 90 days of employment. More often than not, this is provided to the employer via a PowerPoint presentation.Upside Potential or OTE - O.T.E. is an acronym that describes that additional money that a sales professional can make in conjunction with their base salary. This is also known as the upside potential. The O.T.E. or upside potential can be expressed in dollars of a percentage of the sales representative's base salary.Example of OTE:Base Salary $100,000 + projected commission if quotas are met ($70,000) would be an upside potential of $170,000. Typically, benefits are not included in this number.

Original :: sales terminology 101

your most valuable client

In a good economy almost anything you do will produce results. But in a bad economy, you've really got to focus on the basics of sales success.In a nutshell...Keep it simple and don't show off (subvert your ego), show respect and appreciation for their time, build up your prospect's self-esteem, act happy, be funny (but not foolish), be open (so that others will be open to you), ask great questions, listen more than you talk, show interest, concentrate and take notes, learn to read body language (non-verbal communication), maintain good eye contact, learn to pace and mirror (without being too obvious), prepare, prepare, prepare, present a professional image (people do judge books by theircovers) and ABC... Always Be Closing (just kidding).There you have it. Everything you need to know in one sentence!Seriously, more and more people today are looking for ways to dramatically reduce expenses. They're worried about what might happen if mortgage interest rates rise, real estate values continue to drop, the stock market continues to collapse and they lose their jobs or go out of business.During a recession, people are much more willing to speak with an advisor that's armed with real solutions and projects confidence.Great news for you, right? Remember, as always, your most valuable client is YOU. Before you can sell anything to anyone, you must first sell yourself... on your products, your ability and your future... which results in ENTHUSIASM!Genuine enthusiasm is 10x's more important than product knowledge or experience, and there's no way to be successful without it. If you aren't excited about your products and your profession, you can't expect your prospects to be either. Your enthusiasm, after all, stems from the belief that what you are doing is vitally important and the products you represent are of the highest quality and represent the best values in your industry.And, as you know, your enthusiasm is contagious... others will feel it.The most successful sales pros "talk to themselves" and "sell themselves" all day long. They do it to overcome those negative voices... also known as "rejection." You've got to keep your attitude up and your self-image strong, because a healthy self-image, if you think about it, always precedes and causes virtually all of your major selling achievements.By far, the most powerful, enthusiasm-generating and motivating thought is knowing that GOD is with you. Carry that thought with you all the time and watch the change it will make in every aspect of your life. I believe with all my heart that God has blessed me with great people to work with... and that all of us were born to win.GOD is with you and wants you to have an abundant life.

Original :: your most valuable client

pearls of wisdom for sellers

Part One1. The decision to sell is not irreversible, but it should be firm. In a family business, it is important that it is not just the majority owner involved, but that all the family members who have some ownership or who work in the business are brought into the selling process. Hopefully they are all in agreement with the decision to sell.2. Decide straight away on who is going to be the ultimate manager of the selling process, in order to avoid later ambiguity.3. Set a realistic timeframe on the selling process. This way, there will be notable milestones to keep to: For example, the completion of the sale memorandum; the contact of buyers and the close of sale. Stick to these timefames, and that way the deal doesn't drag and stands a good chance of closing as soon as possible.4. Contact real professionals. Improper advice could cost you tenfold later on. For example, when seeking a lawyer, make sure that they deal with transactions.5. Communicate with your banker about what you are doing. Bankers not only hate surprises, but also if they are surprised, may not be co-operative when you need them most.6. Target the buyers which would perceive your company to be the most valuable.7. Openly recognise certain "on and off' balance sheet items such as customer pre-payments, work-in-process billing, contract obligations, lease obligations, legal threats, etc.8. Make sure that you negotiate agreements with the top management so they will not jump ship before the business is sold. Depending on the situation and the importance and number of people involved, the agreement could be equivalent to anywhere from two to six months' salary.9. Set up a complete file in one place of all relevant information the buyer and/or his due diligence team will ultimately request; e.g., contracts, distribution and purchase agreements, leases, licences, and intellectual property documents.10. If a buyer indicates that he or she will be submitting a Letter of Intent, tell them up front what items you want to be included in the document:? Price and Terms
? If it is an asset purchase, what assets and liabilities are to be assumed
? What contracts and warranties are to be assumed
? Lease or purchase of propertyThe responsibility for employee contracts or severance agreements? Time schedule of due diligence and closing11. Audited Financial Statements: While an accounting firm's "review" is a bare minimum for a company in the process of selling, it would be well worth the effort and expense to have audited financial statements for several years before the company is presented for sale. Audited financial statements will manage to reassure the buyer and satisfy a buyer's complete scrutiny.12. Unadjusted Financial Data: If an owner is serious about selling his business, he should show real earnings without a lot of adjustments and add backs. Buyers do not get excited about companies operating at a break-even basis with a list of add backs. By nature, buyers become suspicious.13. High Quality Management: Usually if the selling company's CEO will remain on the job for several years after the company is sold, it will add value to the purchase price.If the selling company has numerous family members on the payroll, it is considered a negative. Therefore, the selling company might be wise to have those family members under contract with a specific buy-out clause.With appropriate discretion, it is effective if the owner can "show off' the top management to a prospective buyer. Especially effective is a top management well versed in the company's strategy, its goals and its position in the market. Conversely, what is most damaging for a seller is when he comes across as a "one-man-band" as opposed to a team-oriented organisation.14. Settle all litigation and environmental matters before discussing the sale of the business. These items can be deal breakers, so present these problems ahead of time.15. Prepare the business for sale two to five years in advance by preparing a business plan, which provides timely, accurate and pertinent financial reports and by implementing a culture of continuous improvement.16. Hire a great transaction lawyer, because the buyer will probably have the best available one going.17. Liquidation Appraisal on Machinery Equipment: Almost every buyer will structure a deal in which the equipment will be used as bank security by the buyer. It is in the seller's best interest to provide liquidation value so that the buyer will not discover at the eleventh hour that his borrowing base is ?500,000 less than expected, because the bank is using a lower valuation on the machinery and equipment.18. Be flexible with the property component of the business. Most buyers would rather rent the building and invest their money in growing the business. Property usually does not make money for the operating company.19. Do not be afraid of seller's notes to the buyer as it is unusual that a founder, temporarily remaining in place, is not desirable. Additionally, the best deal for buyers is one in which a note to the seller can be used as subordinated debt. Consequently, as long as former owners are owed money, they have a right to view themselves as quasi-partners, and a good suggestion is that the insightful buyer will consider structuring a share of future earnings improvement to the former owner's benefit - as long as he or she is in place.Of course, it is desirable for the seller to have some sort of security on the notes and there should be a reasonable risk rate on the coupon. The fact that the seller continues for a short time as a quasi partner, albeit as a debt holder, certainly creates value in the deal.20. Understand the Buyer's Concerns: The buyer is usually aware that the founder, owner, and CEO is principally responsible for running the business. If the company has no depth of management or is perceived to be a "one-man-band," the price for the business will be discounted. It is not wise for the CEO to overly brag about himself or let the seller know he has not taken a holiday in three years and works 12-hour days.21. Don't negotiate directly, but through an intermediary who can mediate. Don't let too much time elapse between meetings with an interested buyer. Once the process starts, keep it moving, or you may lose momentum and affect your business and the morale of your employees.22. Don't delegate important aspects of the deal to underlings - and don't let the buyer do so either. It is important for key players to stay in touch and to develop confidence in each other, and engage an investment banker who understands your business and has knowledge of your industry.23. Complexity is a killer in deal-making. It sucks time and saps strength. The more complicated the deal structure, the less likely it is to work.24. The buyer must work hard to put himself in the shoes of the seller in order to determine the real reason why the seller is talking about a sale. The real reason is seldom obvious and sellers usually sugar-coat the problems.25. Valuation is an important exercise, but usually the value thus determined is not the purchase price. The business will be bought for whatever the seller will take for it.26. In approaching a negotiation, the first problem is determining who is the decision maker on the other side. Lots of jawbones have been worn out in pseudo-negotiations with the wrong person.27. Once the decision maker has been identified, it is important to establish a rapport with him or her. Unless the seller and the decision maker on the buyer's side are able to work together, the consummation of a deal is highly unlikely. At some point, a social dinner including the buyer's spouse may be an ideal way of furthering the negotiation.28. Try to control the drafting of the final agreement and other documents. While it is customary for buyers to do the drafting, if the seller can seize that function, the seller will have an advantage.29. Keep the momentum going. Deals that drag don't close. Energy and zeal are critically important.

Original :: pearls of wisdom for sellers

built to last a relationship continuum

The term relationship denotes connection, some type of attachment that warrants time and communication. As it relates to people, many unconsciously feel as though once a relationship is established, there is little or no maintenance needed to sustain it. Be it professional, personal, marital, spiritual, etc., there is a degree of sustenance required to support a healthy relationship. Change is a universal inevitability and relationships don't garner any immunity. Regardless of how large or small the level of up-keep necessary to preserve and grow, as a generalization, relationships will give you exactly what you give them.In business, strong relationships are paramount to the success of eery component of every company. As leaders, it is critical that we see ourselves as the vehicles that drive the behaviors within our relational sphere(s); if there is a problem, we are it. The better we are able to optimize targeting, initiating, and developing the right relationships, the more manageable they are.We must strategically select candidates based on the most important criteria for which they are chosen.
We must effectively connect under ethical circumstances and on common ground.
We must perpetually evolve in mutually beneficial directions.
These principles increase the probability of us investing adequate time, attention, and consideration into relationships so that we see anticipated returns at the very least.The term relationship should probably be a verb, illustrating the continuous energy that must be expended in order to make it work. This concept is often thought to be linear when in actuality it is a cyclical continuum. The relational process is essentially sales, an endless interview where effective communication strategies and gaining buy-in is imperative. Two critical success factors with relationships are mind set and skill set. An understanding that desired outcomes are within our control; we can and should be able to dictate the level and quality of relationships that we have. By honing our selling skills, we are better able to posture favorable parameters in which we work. Please keep in mid that this is all done with the Responsibility Hierarchy in mind. Relationships are similar to vehicles, in that the better they are built the less maintenance they require to last. However, they must be driven responsibly, serviced regularly, and consistently cared for. When we want our cars to last and relationships to work, we consciously pay the price to purchase and preserve them. Great Selling!

Original :: built to last a relationship continuum

is sales training important for your

Without sales there is no revenue, no profit and even the best marketing program in the world will not prevent you from failing; therefore sales are the single most important part of any business. Granted, all aspects of business are important, but without sales you have no business. So unless you want to go out of business, you need to have a very well trained sales staff. Sales training programs where your agents learn, internalize and practice with real customers while in class is one of the best ways to make sure that your sales staff masters the techniques and methods that will increase sales.There are many ways to get your sales force trained and depending on the size of your staffou may want to consider hiring a sales trainer exclusively for your company; I am not referring to hiring a full time an in-house trainer, I am talking about bringing a sales trainer exclusively to train your agents.� And against all beliefs hiring a sales trainer it is not that expensive, especially compared to the additional revenue your sales staff will bring.Every business operates differently and sells a different product or service. However, the sales process is the same: "lead generation (marketing or any other way), present and close" the method never changes regardless of the product or service we promote, however this is why it's of paramount importance that the trainer has a clear understanding of your goals and biggest challenges you are currently facing, so they can be included in the training program.�Another important aspect of sales and (commonly overviewed as well) is repeat customers and referrals; make sure the programs includes techniques to keep your past clients as clients and referring you new clients.One more thing you should also consider is the length of the training program. �In my experience a two to three day class is best, keep in mind that your sales people will not stop working during the training; they'll continue to work and generate new business.There are companies that seem to think that training their sales staff is not worth the money or justify it with not having the budget right now. However, they make this decision to their own detriment. The company with the best trained sales force has a sizable advantage over those that do not. Another and often less expensive choice is online training and although it is cost effective we need to consider the other side as well. Because the trainer cannot see the people's facial expressions or hear their comments, the risk of your agents not understanding and therefore not applying the techniques increases.� Technology it's fantastic and it has brought our lives to a different status however the human touch is always needed.In summary, everyone in your company can benefit from some degree of training but specially your bottom line.

Original :: is sales training important for your