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Category: Sales

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Best Practices Economics Entrepreneurship Leadership Marketing Sales Skills Technology

Trends for Every Salesperson

Every profession goes through changes, especially sales. A certain sales technique may have worked in the past, but that doesn’t mean it’ll work today. To be a top-performing salesperson today and in the future, you must continuously adapt to both market and social conditions.

There are several new business trends taking place—all of which affect salespeople in every industry. Understand what the trends are and how to maximize them so you can maintain a successful sales career.

Your Past Success Will Hold You Back

People who are in sales long-term tend to be successful. However, success is your worst enemy. Being at the top and doing well means you’re just trying to keep up and meet demand. You’re not looking at future opportunities because you’re busy reaping the rewards of current ones. The old saying “If it isn’t broke, don’t fix it” should be reworked today to state, “If it works, it’s obsolete.” If you just bought the latest device, odds are that the newer, better version is already in existence and about to be released to the public. We must evolve to stay ahead of rapid obsolescence in business.

Technology-Driven Change Will Dramatically Accelerate

While it’s human nature to protect the status quo, you have to understand that technology is changing the future, customers’ behavior, and your company’s reality. If you don’t change, you’ll be out of a job. As a salesperson, you need to embrace change wholeheartedly rather than resist and hold tight to the past. Spend some time thinking about where these impactful changes are headed. Change causes uncertainty in customers’ minds, so you bring certainty to them when you display confidence in change.

Time is increasing in value

Time is becoming more important to people because we have an aging demographic of Baby Boomers in the United States. Time gets more valuable as you get older because you have less of it. The world is more complex, with much more for people to do with their time. With so much going on, everyone is increasingly strapped for time. As a salesperson, make your customers feel that talking to you is actually saving them time. The list of time wasters is virtually endless, and these hurt your sales and profits. Prove that you’re a time saver and people will choose you over the competition.

We’ve Shifted From the Information Age to the Communication Age

Many salespeople rely on static marketing tools like company websites, flyers, and sales letters. These methods are a one-way interface. The better way is to have your sales messages be dynamic. For example, you could have a contest that encourages people to go to your site and enter. Instead of just telling people to buy your snack product, you can encourage customers to go online and vote for the next new flavor, getting them involved. The key is to generate communication, engagement, and involvement through your sales and marketing efforts. Don’t just hand out information; you want to listen, speak, and create dialogue to capture your prospects’ interest.

Solutions To Present Problems Are Becoming Obsolete Faster

Almost every salesperson has been told to be proactive by taking positive action. Unfortunately, you must wait and see to know if a certain action is positive. Instead, be pre-active to future known events. You need to look at your customer segment and identify what types of events you are certain they will experience, and focus your actions on what will be happening rather than on what is happening. Being pre-active also means that you change the way people think. When you put out a new product, it takes a while to catch on because you’re not actively changing the way people think about how the product can be used. Constantly educate your customers on the value you and your products or services offer.

The Value You Bring Today is Forgotten Faster

Sell the future benefit of what you do. Most salespeople sell the current benefits to customers who already know what they are. Your goal as a salesperson should be to establish a long-term, problem-solving relationship with customers, not a short-term transaction. Your most profitable customer is a repeat customer, so help them realize the long-term benefit of your partnership. Show them how the products and services you offer will evolve with their needs by selling the evolution of your products and services. Sit down with your fellow salespeople to create a list of future benefits that you have for your customers, and then get an idea of where the product and service developers are heading to think of future benefits preemptively.

Sales Success for the Future

The more you understand and adapt to today’s current business trends, the better your sales will be—today and in the future.

Are you anticipating future trends in your sales career? If you want to learn more about the changes that are ahead and how to turn them into an advantage by becoming anticipatory, pick up a copy of my latest book, The Anticipatory Organization.

Pick up your copy today at www.TheAOBook.com

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Personal Development Sales

Is Your CPG Business on the Wrong Side of History?

Since we created a popular consumer packaged goods brand, now recognized around the world, we’re asked a lot of questions about packaging. People want to know, “What are the new trends?” and “What’s the latest in packaging?” The “P” in CPG does stand for “package” after all.

In The Graduate, a movie released in 1967, a college graduate hears some advice from his father’s friend: “I’ve got one word for you, Benjamin. Plastics.” If we were to give advice to today’s college grads, we would add the word “alternatives,” making the greatest advice we could give, “plastic alternatives.”

Today’s market

“World wildlife populations have fallen by 60 percent in just over four decades,” according to the World Wildlife Fund.

The same report states, “In 1960, 5 percent of seabirds had plastics in their stomachs. Now that number is up to 90 percent.”

Wildlife isn’t just nice to look at. We’ve finally learned that it is essential for both the economy and our own health. Tanya Steele of the WWF states, “We are the first generation to know we are destroying our planet, and the last generation that can do anything about it.”

With more and more reports like this being released, video footage showing plastic in the stomachs of seabirds and fish, and a huge social media conversation on the subject, is it still possible for CPG brands to continually whistle past the graveyard?

Before this starts to sound “political” or like some tree-hugging lamentation, let’s look at the advantages of favoring biodegradable packaging over single-use plastics. This is all about getting in front of a huge trend instead of being the last one to hop on board, or to miss it altogether. Any CPG brand that announces they are no longer contributing to the ecosystem’s collapse will have the upper hand in an increasingly information-savvy marketplace.

As consumers get younger and younger, with more life ahead of them, a larger percentage will be affected by environmental ruin. They are starting to favor brands that use environmentally conscious packaging. They vote with their purchase decisions, fighting against environmental damage.

Instead of just copying competitors that deliver products with single-use plastic to gain a cost advantage, companies that use alternative packaging materials can set themselves apart, giving themselves a halo and creating a base of loyal advocates in the process.

The Ellen MacArthur Foundation warned us that, by 2050, there will be more plastic waste in the ocean than fish (2016). Instead of ignoring the elephant in the room, which in this case is filling our waters with single-use plastic, CPG trailblazers have the chance to educate their customer base, attracting more customers in the process.

So why not put yourself on the right side of history and lead the next big thing—plastic alternatives?

Risky business

 When we started the Barefoot Wine brand, we couldn’t afford advertising, so we made sure to support issues that were important to us. Early on, we made the risky decision to support the League’s “Keep Tahoe Blue” campaign to save Lake Tahoe. This was seen as a radical attempt at the time, hurting jobs, halting the economy, and being bent on stopping lake development.

But as time continued on, the lake’s preservation ultimately boosted property values and the economy overall! Our position on this issue was initially met with protests by realtors and developers, but our early support eventually helped provide the education that would change people’s minds. This created a solid customer base for us.

We were also early supporters of the “Save Mono Lake” movement by the Mono Lake Committee. Again, we were scolded for taking a stance on a “political” issue. But, once the Los Angeles metro discovered efficient toilet systems, the lake was saved and we were seen as heroes in the marketplace.

In both of these scenarios, we were on the right side of history. Our sales escalated and we gained loyal customers. Today’s early adopters of alternative packaging will be on the right side of history, too. They will set themselves far apart from their competitors. And the extra sales can’t hurt, right? Do yourself and your business a favor and take the high road—all the way to the bank!

For more, read on: http://c-suitenetworkadvisors.com/advisor/michael-houlihan-and-bonnie-harvey/

Categories
Best Practices Sales Skills

You Need Both: Sales Process AND Sales Methodology

In the sales performance space, there are those who think sales process and methodology are the same thing, and those who realize they’re different. If you couldn’t tell which side of the debate I’m on, they’re different, and do different jobs.

Some of the confusion is that both are kinds of process, although methodology isn’t always as predictably sequential.

Process:  Selling Activities.

The term selling process refers to the actions a selling organization takes along its selling journey. These steps might include (but might not be limited to):

  • Prospecting
  • Qualifying
  • Needs Analysis
  • Demonstration
  • Proposal
  • Negotiation
  • Close and Implementation.

When these are detailed sufficiently, people throughout the selling organization know what deliverables they need to support the process at what times, what documentation is expected, what resources are typically required, and much more.  Process grows into a “playbook”.

Notice that these are seller-centric activities.  Once your company builds its sales process, this are a great way to track an opportunity pursuit through your funnel or pipeline.

Today’s CRMs are mostly built around processes.  They usually come with a generic process provided, and one of the first thing a company needs to do is define their process in that CRM.  Manager dashboards will also be boilerplate at first.  It’s commonplace to track selling activities like calls made, emails sent, lunches bought, demos scheduled, and more.  Once you have management reports and analytics defined and refined, sales managers can track a lot of activities really efficiently.

There is one thing missing from sales process:  the customer’s buying process.  Tracking only selling activity fulfills the great promise of  CRM when:

  • All customers buy the same way
  • Every customers is equally engaged
  • All customers have the same needs
  • Customers respond equally to the same “value messages” (a term I really disrespect.I’ve blogged on this before, and am likely to do so again in the near future).

Every sales professional knows what doesn’t happen when they keep churning through a sales process while a customer has not progressed through a buying process.  Methodology solves for that.

Methodology: Selling Behaviors (which engage a buying process.)

Sales methodology consists of trainable, coachable, trackable selling behaviors that engage a customer in a buying process.

It’s easy to measure process, like number of telephone dials (especially with CRM/phone system integration). Measuring number of quality conversations is hard.  Don’t do either in isolation.

Ironically, I hear sales leaders tell anyone who will listen that they need to measure quality and not quantity…while looking at sales process analytics.  The reason that they’re achieving the results they may be because they’re measuring activity.

Methodology…behaviors…keeps the sales process aligned with the buying process.  Methodology behaviors might look like (but might not be limited to):

  • Understand the buying process being used
  • Understand all of the buying personas.
  • Planning and executing meeting plans to uncover all needs, all desired outcomes, and the value of all of those outcomes to the various personas.
  • Building a case for change, including adding personas where your value warrants.
  • Cultivating internal support for a proposal.
  • Aligning demonstration, then proposal points to persona outcomes.
  • Building the value case
  • Facilitating any customer change management, and setting implementation up for success.

Because every customer buys differently, methodology tends to be less rigidly sequential.  The customer buy process drives methodology, but should generally track with a well-designed (that is, customer-centric) selling process.  For example, change management appears prominently near the end of a sales process, but methodology should have uncovered individual persona outcomes and developed supporters of the change all through a pursuit.

Process vs. Methodology:

 First, I should point out that by “vs.” above, I don’t mean that there is an either/or choice.  You need both.  The “vs.” is because I want to contrast the two to show why you need both.

Process vs Methodology Table

Process organizes and orchestrates the complex web of selling organization activity around selling and delivering the company’s offer.  Methodology organizes the selling organization’s effort to facilitate a customer buying decision.

Sales process is measured by activities, which can be measured by any current CRM system I’ve ever heard of.  Methodology is about selling behaviors; only a few exceptional CRMs track behaviors, although most can be modified to do so.

Sales process, as simple activities, can generally be learned and mastered via a straightforward “knowledge transfer” class of training.  Methodology involves behavior change, and requires some element of coaching to lock in behavior change.

Process adoption and compliance results in selling efficiency, whereas methodology focuses on building customer-perceived value of your offer.  Great methodology drives customer value, which makes selling more effective. Efficiency and effectiveness can both drive up sales, but in different ways.  Efficiency might mean churning more prospects through a low close-ratio process each month.  Effectiveness could mean increasing the close ratio.  They aren’t mutually exclusive. They are synergistic.

Don’t Confuse the Two.  Don’t Limit Yourself to Either/Or.

I hope that you found this compare and contrast article useful.  Process and Methodology are both worthwhile pursuits. I help clients with both, and they feel different.  Please comment below, or contact me directly if you have any detailed questions.

To your success!

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Best Practices Body Language Entrepreneurship Investing Management Marketing Negotiations Sales Skills Women In Business

Do You Know When You Are On A Strong Peak?

 “Never view yourself as having peaked in life. There’ll always be other peaks to take you to higher points.” -Greg Williams, The Master Negotiator & Body Language Expert

Athletes know it, do you? Do You know when you are on a strong peak? A strong peak is different than a molehill. It’s when you are really at your best. It’s also important to distinguish when you’re at that point because to get there again, you must know how you achieved it.

Throughout our life, we peak and then we rest. During times of rest other occurrences beckon for our attention. Sometimes, instead of answering the call, we revel in our accomplishments and rightfully so. That’s not a bad thing. Because, during our respite, we re-energize ourselves, which prepares us for the conquering of our next summit.

It’s very important to note how we engage in the ups and downs that occur in our life. There are lessons of growth contained in those situations. One thing to remember is, when you’re down, you must get up. There’s always another peak waiting for you to conquer. When you’re up, know that it’s temporary. There will be higher peaks to reach.

The more you can use your mind to continuously strive to go higher in life, the higher you’ll go. Even when there appears to be a limit on your upward mobility, view it as being temporary. Until you die, you’ll always have the power to climb higher. Be you infirm, afflicted, or ridden by the doubt of self-disappointment, if you wish it to be and work hard enough to bring it to fruition, you can always climb to a higher point. Leap if you must from one peak to the other, that’s okay too. You’ll be seeking what awaits you at a higher level. Thus, dread not when you’re not at your strongest. Fear not when you’re encompassed by weakness. When you’re down, if you don’t give up, you’ll be able to climb up, up to higher heights … and everything will be right with the world.

What does this have to do with negotiations?

You’ll go through many mental peaks and valleys in a negotiation. When you sense you’re at a peak, note the offers, counteroffers, and strategies that served as your deliverer.

In every negotiation, you should be aware of where you and the other negotiator are mentally. Body language and other nonverbal signals will allow you to glean some insights (e.g. lack of sharpness, the way offers are viewed per what’s said, pondering too long, etc.). The point is, if you’re not alert, that might be an indicator that you’re not at a strong peak in the negotiation. Take heed of such positions. You’re more likely to make mistakes; the same is true of the other negotiator. There’s the opportunity for you to climb to a higher peak if the latter is true. But you’ll miss it if you don’t recognize the opportunity for the value it contains (i.e. knowing when you’re on a strong peak). Pay attention to such opportunities and greater rewards will await you at higher peaks.

Remember, you’re always negotiating!

After reading this article, what are you thinking? I’d really like to know. Reach me at Greg@TheMasterNegotiator.com

To receive Greg’s free “Negotiation Tip of the Week” and the “Sunday Negotiation Insight” click here http://www.themasternegotiator.com/greg-williams/

#Peak #Success #Emotion #Business #Progress #SmallBusiness #Negotiation #NegotiatingWithABully #Power #Perception #emotionalcontrol #relationships #HowToNegotiateBetter #CSuite #TheMasterNegotiator #ControlEmotions

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Best Practices Entrepreneurship Investing Management Marketing Negotiations Sales Skills Women In Business

Avoid Bias Mistakes – How to Negotiate Better

“Biases are motivators that move us to action. Be aware of those that serve you and those that don’t.” -Greg Williams, The Master Negotiator & Body Language Expert

Negotiator #1 – “I knew they’d back out of the deal. All of them negotiate like that.”

Negotiator #2 – “As I was negotiating with those guys, I knew I’d have to back out of the deal. They never negotiate fairly.”

In the above situation, neither negotiator was aware of their bias. The absence of that mindfulness brought unrecognized pressures on the negotiation. Each negotiator made mistakes because of it. It was also the reason the negotiation fell apart. Are you aware of your biases when you negotiate?

To negotiate better, note when you might possess the following bias mindset.

Cognitive:

These are biases that you’re aware of. They can easily slip your mind when you negotiate. It’s like breathing, automatic. The potential danger arises when you negotiate in an automatic mode and having this bias unknowingly directing your actions. To address it, be aware of what you’re aware of. Don’t shrug off a thought too lightly because you think you’ve addressed it. The more aware you are of how you feel, the better you’ll be at identifying why you feel a certain way.

Unconscious:

To be unconscious of anything is to be unaware of it. In a negotiation, when you’re unaware of a driving force, unconscious biases may be the source. To combat this possibility, note the source of your emotional sensations. Identify if you’re fearful, elated, expectant, or cautious. Then, note if it stems from a visual, kinesthetic, or auditory source. Doing that will sensitize your emotions to your state of mind. That will alert you to the realities of what’s motivating your action.

Culture:

It can be risky to lump everyone from the same culture into the same category. People are individuals with their own perspective of reality. The more you view someone as an individual, the greater the chance to see that person for the unique qualities they possess. Negotiating with them on that bases will enhance the opportunity to connect with them at their level. That will lead to better understandings about why they negotiate in a particular manner, while you help them obtain what they seek from the negotiation.

Bullying:

Some people bully others and some are just tough. Based on what you’ve experienced in life, you may deem someone a bully when negotiating. The person may just be a tough negotiator. There’s a difference in those personality types. Be very cautious about how you brand someone when negotiating. Because, the way you brand them will affect the way you view them, their actions, and the way you negotiate with them.

Confirmation:

We see what we expect to see. That affects our perception. Realize that your perception of reality won’t always be right. That should cause you to pause when you think, “I know he’s like ‘x’. Everyone in his group is just like that.” When making broad assumptions, be aware that anything which seemingly supports your beliefs may serve as confirmation about those beliefs. The truth may lie further from reality than you think. Don’t conflate like-appearing assumptions that should be thought separators.

The more you’re aware of the biases you carry into a negotiation, the less mental baggage you’ll have. Being aware of that fact and heightening it in the negotiation should lead you to greater negotiation outcomes … and everything will be right with the world.

Remember, you’re always negotiating! 

After reading this article, what are you thinking? I’d really like to know. Reach me at Greg@TheMasterNegotiator.com

To receive Greg’s free “Negotiation Tip of the Week” and the “Sunday Negotiation Insight” click here http://www.TheMasterNegotiator.com/greg-williams/

#Bias #Mistakes #Avoid #Negotiations #bodylanguage #Negotiator #Business #Management #SmallBusiness #Money #Negotiating #combat #negotiatingwithabully #bully #bullies #bullying #PersonalDevelopment #HandlingObjections #HowToNegotiateBetter #CSuite #TheMasterNegotiator #psychology #NegotiationPsychology

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Body Language Human Resources Management Marketing Negotiations Sales Skills Women In Business

Do You Hear What I’m Thinking?

“Delivered succinctly, your thoughts are accurately conveyed. Delivered unsuccinctly, and your message can get lost in a morass of confusion”. -Greg Williams, The Master Negotiator & Body Language Expert

How many times do you catch yourself not saying exactly what you’re thinking? You say one thing and the meaning becomes altered by what you emit. Okay, did you catch that? The intent was to state, … by what you omit. Such nuances can leave the receiver of your message confused about its intent. We omit complete thoughts at times because we’re not focused on what we say or write.

The following are two points to consider before communicating with others. They’ll help you communicate more effectively.

Know your environments.

Some people get tongue-tied due to their environment. They experience self-pressure because they want to perform better. That’s usually due to how they think they’ll be perceived versus how they wish it to be. Recognize that something is occurring that makes you feel unsafe in those environments. It may stem from the people in it or the environment itself (i.e. glitzy, downtrodden, etc.).

Prior to your entry, identify how you want to convey your thoughts, what might prevent you from doing so, and what you’ll do to become unstuck if that occurs. Having plans in place to move from one mental environment to another will allow you the mental dexterity to place your mind at ease and focus on the message you want to deliver.

Know your mental peaks.

Everyone has times in the day when they’re more mentally alert. Do you know yours? More importantly, do you know what times are best for the important communications that you’ll have?

When you’re at the ‘top of your game’ note how you got there. Is it something someone says that ignites it? Was it the exercise regimen you engaged in. Was it due to a lack of fatigue? Knowing the answers to these questions and others will allow you to identify when you’ll most likely be at your mental peak. When possible, choose those times to engage in more important communications.

When you communicate, whether in writing or verbal, there’ll be times when you don’t communicate succinctly. The better you become at identifying those times, the more alert you’ll be about their occurrence. That mindfulness should allow you to prepare better for the encounter, which should allow you to communicate better … and everything will be right with the world.

What does this have to do with negotiations? 

Every negotiation involves communications. It’s in the form of what you say and how you say it. Thus, as offers and counteroffers are exchanged, the words used to convey their sentiment impacts the perception of the offer. Therefore, if you don’t represent your thoughts appropriately, you’ll decrease the chance of communicating effectively. That can lead to a hellish negotiation.

In every negotiation, plan what you’ll say and the body language you’ll use when imparting your message (e.g. moving closer when offers are appealing – away when they’re not, hand supporting chin to reflect contemplation, hands pushing away to signal disdain for the offer, etc.). The more aligned your body language is with your message, the more your message will appear believable. Even if your full thought isn’t conveyed, the body language that accompanies it will add an extra dimension to the message.

Remember, you’re always negotiating! 

After reading this article, what are you thinking? I’d really like to know. Reach me at Greg@TheMasterNegotiator.com

 To receive Greg’s free “Negotiation Tip of the Week” and the “Sunday Negotiation Insight” click here http://www.themasternegotiator.com/greg-williams/

#Communication #Success #Emotion #Business #Progress #SmallBusiness #Negotiation #NegotiatingWithABully #Power #Perception #emotionalcontrol #relationships #HowToNegotiateBetter #CSuite #TheMasterNegotiator #ControlEmotions

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Best Practices Entrepreneurship Human Resources Management Marketing Negotiations Sales Skills Women In Business

Negotiate More Effectively by Knowing How to Act Better

“Everything in life is an act. And you’re the actor on the stage of your life.” -Greg Williams, The Master Negotiator & Body Language Expert

Do you plan how you’ll #act when you #negotiate? What #role do you decide you’ll play? Knowing the right role to display will allow you to negotiate better. You can’t predict every circumstance you’ll encounter in a negotiation. But the better prepared you are, the better your act will be.

Your act:

Everyone plays a role when negotiating. And, your role should align with how you wish the other negotiator to perceive you; that’s your act. You should not view it as bad or inauthentic; it’s an act. If it’s misaligned, you run the risk of weakening your position. As an example, you shouldn’t become a bully if you’ve been playing the role of someone that’s helpful. That would be a misalignment.

Consider the following and keep in mind that you can morph from one act to another. Just be sure there’s an easily perceived reason for doing so.

Nonchalant

You can adopt this act to project a ‘no-care’ attitude (i.e. if it happens, fine – if it doesn’t, fine). You might employ this demeanor when you wish to confuse the other negotiator about your real interest in what he’s offering. Make sure not to become unmasked by being too deep into the role. Because a fleeting offer may disappear before you can shift acts.

Defiant

“I won’t accept that offer under any circumstances!” Be cautious when adopting this act. It can leave you in a position that’s difficult to retreat from. While this can be a good tactic, if it’s overused and you must concede, you’ll be weaker throughout the rest of the negotiation.

To combat the perception of being in a weaker position, consider feigning momentary hopelessness. It’ll lend credence to your act. But you must attempt to regain your defiant act, be it from a less entrenched position, to regain your position. You’ll only be able to use the hopelessness ploy once, twice if you’re overly convincing. So, be mindful of how and when you employ it. If you do so too early in the negotiation, you’ll lessen its effect later. If you do it too late, you’ll bring additional scrutiny upon your act.

Helpful

Most people like helping people. It’s a characteristic that’s pleasing. It’s also a characteristic that some people despise. Thus, you must know when to be a helpful actor and when to drop the act.

Dominant negotiators, the bullying type, tend not to want help. They already know what’s good for the negotiation. From their perspective, your insights will only hinder the process.

Invoke the helpful act with collaborative negotiator types. They seek input to promote win-win negotiation outcomes. To better effect this act, consider when you’ll lead and when you’ll follow. To follow, ask the other negotiator for her opinion. Then, build on it. To lead, present a non-threatening offer and ask your collaborator what she thinks of it. Build on what she says.

Dominant

Most people don’t like to be dominated; it places too many restrictions on them. Nevertheless, acting dominantly versus someone that’s savvy and in control can have its benefits. The difference lies in whether you’re perceived as being overbearing, strong-willed, or just knowledgeable. To effect this act, attune yourself to the other negotiator’s perception. There can be hidden value in this role. Knowing how to uncover that value makes it more valuable.

The stage you’re in, in the negotiation, should direct how you act. Like a good director, if you time your actions appropriately, your actions will be more believable. That will lead to more winning negotiation outcomes … and everything will be right with the world.

Remember, you’re always negotiating!

After reading this article, what are you thinking? I’d really like to know. Reach me at Greg@TheMasterNegotiator.com

To receive Greg’s free “Negotiation Tip of the Week” and the “Sunday Negotiation Insight” click here http://www.TheMasterNegotiator.com/greg-williams/

#Act #Negotiations #bodylanguage #Negotiator #Business #Management #SmallBusiness #Money #Negotiating #combat #negotiatingwithabully #bully #bullies #bullying #PersonalDevelopment #HandlingObjections #HowToNegotiateBetter #CSuite #TheMasterNegotiator #psychology #NegotiationPsychology

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Best Practices Entrepreneurship Industries Leadership Marketing Sales Skills

7 Failures of Business Growth

If you want to stand out in today’s marketplace, you must work smarter, not harder. This is easier said than done, however, as despite their best intentions, companies get snarled in the glaring failures that derail business growth and stagnate profits.

In order for you to avoid these failures, you have to be aware of the most common ones and the strategies for combating them. The following will help you turn failure into success.

1. FAILURE TO ANTICIPATE
Most companies react to change as it occurs. You must anticipate and plan for future changes. You can anticipate a great deal in your industry. For example, are automobiles of the future mostly going to be electric instead of gas? Many think so. Could automobiles hover like drones instead of drive on four wheels? Of course!

Instead of being a crisis manager and reacting to change, anticipate changes so you can drive growth from the inside out. Spend one hour a week focusing on predictable opportunities to strategize and become more of an opportunity management organization.

2. FAILURE TO COMMUNICATE
There is a difference between informing and communicating. Informing is one-way and static,  and seldom leads to action. Communicating is two-way and dynamic, and usually leads to action. We have these fantastic Communication Age tools but use them in an Information Age way. If you can’t communicate internally with your staff, how can you communicate externally to customers and shareholders? When you focus on maximizing two-way communication, you can create a Communication Age organization and accelerate positive change.

3. FAILURE TO COLLABORATE
The majority of people tend to cooperate, which is a lower-level function different from collaboration. Even though we often use the word “collaborate,” we frequently really just mean “cooperate.” Cooperation means, “I won’t get in your way if you won’t get in mine.” Such an approach produces results but certainly not outstanding results, because it’s based on a scarcity mentality.

Collaboration is instead based on abundance and gets competitors to work with you rather than against you. It occurs when we put our heads together and ask ourselves, “How can we create a bigger pie for everyone?”

4. FAILURE TO INNOVATE
When asked what their last big innovation was, most companies have to go back five or ten years to cite something meaningful, as the majority of companies innovate once, form a company around the innovation, and then let it ride. They stop innovating and instead spend a great deal of effort asking themselves how they can become more efficient by doing more with less, reducing overhead, and using technology better. You must ask yourself how you can use technology and staff to create new products and services to increase sales all around. Innovation fuels profitability and efficiency.

5. FAILURE TO PRE-SOLVE PROBLEMS
Always remember that a problem isn’t an opportunity in disguise; it is a problem! A problem is only an opportunity before it occurs, and most problems we experience are predictable. If you ask customers what they want and then give it to them, you’re missing the real opportunity. Instead, you need to think at a level higher and ask yourself and your customers, “What problems are we about to have?” Develop new solutions based on those answers and base your product development on your customer’s future problems.

6. FAILURE TO DE-COMMODITIZE
Unfortunately, most companies come up with something new and make it their main product. Other companies copy the product, and then market saturation occurs. Try de-commoditizing your offering by taking your product and putting a service wrapper around it. For example, in the electricity industry, the utility provider cannot increase prices without permission from ratepayers. One electric company bypassed this limitation by creating what it calls “digital electricity.” They sold customers a product that, for a higher cost, prevented any fluctuation of voltage from occurring. Many big companies signed up for this more expensive service, and in the near future, homeowners with streaming devices will have a similar interest. This electric utility took a product and wrapped a service around it in order to de-commoditize.

7. FAILURE TO DIFFERENTIATE
Too many companies become just like everyone else. True strategic planning needs to be more than numbers based; it needs to focus on how you can differentiate your company and products from those of the competition. You differentiate by avoiding all the failure modes we’ve discussed that prevent business growth. You anticipate, communicate, collaborate, innovate, pre-problem solve, and de-commoditize. Become what your competition isn’t in order to differentiate.

BUSINESS SUCCESS IS ON YOUR HORIZON

When you know the failures to avoid and the strategies for combating them, you’ll be well on your way to learning from these failures, rethinking the way business is done, and creating an organization that continues to grow despite external factors.

NEXT STEP: Pick up your copy of The Anticipatory Organization to discover proven strategies to accelerate innovation and shape the future–before someone else does it for you!

Categories
Best Practices Entrepreneurship Human Resources Management Negotiations Sales Skills Women In Business

Do You Really Want to Get Better?

“Better is, as better is defined. If you want to get better, first define it, then engage it. Learn from it. Then, repeat the process.” -Greg Williams, The Master Negotiator & Body Language Expert

Do you really want to get better? If so, why? If not, why not? Seriously, some people are happy and satisfied with their station in life. They seek to avoid the challenges, tests, and ultimatums that life places before them. So, they sheepishly slink into the confines of what they perceive to be life’s sanctuaries. Thus, they don’t seek higher stations. Hopefully, that’s not you.

Here’s the point, and I don’t mean to be harsh. If you’re not growing in life, you’re dying. You may already be dead, just waiting for a place to happen. Don’t let that be you! As I state to a dear friend of mine in Australia, keep rising.

Plateau:

Some people plateau in life. They don’t realize when it occurs because they’re too busy living life. They drift on the melodies of life, seduced by its melodic tones. Meanwhile, life changes, be it through technology, relationships, etc., and some don’t note it. They run the risk of falling behind because they’re not staying abreast of the times that change brings. Don’t let that happen to you! Change with the times.

Define it:

To get better, you must know what better means. That means, you must define what it means to get better. While you can seek input from others, in the end, you must live the life you choose. Therefore, be mindful when accepting input. Take what you need and leave what you don’t.

Perception:

Okay, you tried to reach a higher point in life, and you failed. First, you didn’t fail. You learned valuable lessons. What were those lessons? If for no other reason, learn from them, so you don’t repeat the worst of them.

Your perception of any aspect determines how you’ll feel about it. If you assign dread to it, you’ll be less likely to engage in it again. That should warrant your attention. Because, if something was calamitous, you can decide to avoid it. Or, you can enhance it by learning from it. The point is, you’ll make that decision anyway. Be aware when it occurs. You’ll be setting your life’s direction.

Once you define what better means and create procedures to achieve your goals, you’ll increase your chances of becoming better … and everything will be right with the world.

What does this have to do with negotiations?

A negotiation is the exchange of thoughts to increase one’s value. Most of the time, that exchange occurs between different entities. But, in all cases, the negotiation process begins with you and your thoughts.

The better you can define what you want from a negotiation, the greater the chance you’ll have of achieving it. Thus, a lack of attention to your thoughts can leave you in a worse place than before the negotiation. I’m sure you would not define that as getting better.

Remember, always note the negotiation you have with yourself. By doing so, you’ll discover what’s important. That alone will put you on a better road to you getting better.

Remember, you’re always negotiating! 

After reading this article, what are you thinking? I’d really like to know. Reach me at Greg@TheMasterNegotiator.com

To receive Greg’s free “Negotiation Tip of the Week” and the “Sunday Negotiation Insight” click here http://www.themasternegotiator.com/greg-williams/

#Better #Losing #Fear #Progress, Afraid #Success #Emotion #Business #Progress #SmallBusiness #Negotiation #NegotiatingWithABully #Power #Perception #emotionalcontrol #relationships #HowToNegotiateBetter #CSuite #TheMasterNegotiator #ControlEmotions

 

Categories
Best Practices Management Personal Development Sales

Help Me…To Help You.

If you’ve ever read an article you liked from me, thank you (whether you hit a “like” button or not). To keep the research-based quality of my articles up, I need something from you.

Here’s the thing:  The time I spend writing is dwarfed by the time I spend reading and studying.  I want to be the person who can consume information and curate key insights for my readers.

One of My Main Resources is You.

Indirectly, at least. I have been called a data hound. Sure, I read a lot of books from authors in the fields of economics, marketing, psychology, leadership, and more. I also consume research, and always have. Research is built when people like you invest your time in a researcher’s data gathering.

A key research source that I use in my articles is CSO Insights.  They are the pre-eminent research house for sales intelligence.

  • They have the world’s foremost authorities on Sales Enablement
  • They conduct the world’s most complete and insightful research on Sales Operations.
  • They have the world’s most sophisticated tracking data into best practices in B2B sales.
  • They are the world’s best resource for benchmarking data. They help you answer questions like “is my attrition rate something I need to do something about?”
  • Their Study of Sales Performance helps leaders know what works and what doesn’t.
  • They study buyers.  Because of CSO Insights, I can keep up-to-date on how buyers want to buy, and what kind of sellers they want to buy from.
  • Their data drives talent and hiring tools to help you hire the right people, and put them in the right roles.
  • They produce the information I use to help clients put the right analytics in place.

In short, these are researchers who build the data you need most in order to do your job.  When people contact me for advice or help, it’s informed by this research, among other things.  I’m grateful for all of those in years past who have contributed their time.

You Need Me on That Wall.

Even if you don’t want to read research yourself, you benefit from it.  When you read my articles, you are consuming this research indirectly. If you find value in what I write, you benefit from CSO Insights’ work product.  For those who have asked me for insights, I have an admission:  it’s not just my brilliance.  My advice relies on people who gather hard information.

Please help me to help you. This year’s Sales Practices study is open, and I respectfully ask your help by participating. Especially if you’re in a leadership role in the sales, sales operations, sales enablement, or corporate management disciplines.  I know that surveys are tiring, but this one’s important..

And I Need You…Your Time, at Least.

For those who wonder if this is going to lead to a sales solicitation, the answer is no.  I will repay your time with mine if you want, though. Use this link and, if you provide your name, I’ll not only send you my personal thanks, I’ll make sure you have access to research reports (if you want them.).  Following up with all of you who respond is becoming a time investment, but I am happy to do it. Of course, you’ll also continue to see the research reflected in my articles.

Thank you, and I look forward to being notified that you helped, when you use this link.