How Much Money is Discounting Costing You in Your Paycheck?

Money

I was approached by the Branch Manager from a company that was one of my suppliers. Twice a year, he would come by or call to see if I was ready to come work for him selling the products I used in my business. After years of “persuading”, I decided the timing was right.

I called him and asked if we could talk about how my working for him would look. We met in his office and had a good long conversation after which I agreed to take a salesman’s position.

Several weeks passed and I sold nothing. NOTHING!
Finally, at the small Star Motel, the lady took pity and bought a case of toilet paper. However, I had to match her current price to get the sale but what did a discount matter at this point. I needed to sell something. Period.
Little did I realize at that moment, but that initial act turned me into a discounting salesperson. I didn’t know any better at the time. Matching or beating a price became my only sales tool.

Continue reading “How Much Money is Discounting Costing You in Your Paycheck?”

Can You Use Pyramid Math to Make More Money?

Pyramid Math

Pyramid Math

The pyramids used a lot of advanced math to build. The dimensions are a tribute to higher mathematics. So what does this have to do with sales?

We can determine the selling price by one of two methods–price markup or price margin. In working with many salespeople, I find they don’t understand the difference. Yet, the difference is important.

Continue reading “Can You Use Pyramid Math to Make More Money?”

Don’t Settle for Being Part of the 80%

Be part of the 20%
Why did you go into Sales?

I am fascinated by what people think sales is about.

  • Easy Money?
  • Easy Work? (Just play golf all day)
  • You were told you were a natural because you talk a lot
  • You can’t find a job so you go into sales
  • You take a job selling until a good job comes along

Easy Money?

It’s easy money. That’s what a lot of people think selling is. How many times have you talked to someone and that thinks that all salespeople do is drive around all day? If that were only true.

Selling is hard work. Prospecting, making phone calls, making appointments, having meetings, being told “we’re not interested”, building proposals, and more. A salesperson spends their day working to get in front of good prospects. Then they spend their evenings putting together proposals they hope will be excepted. Many days go from daylight to well past dark.

Continue reading “Don’t Settle for Being Part of the 80%”

First Day of Sales?

first day of sales

My first days in sales were a mess and I did not achieve quick success but persisted in my pursuit. What could help me achieve success quicker? I wasn’t sure of the answer but knew it was available because of seeing other’s success. I was fresh, raw, and untrained.

On my first day on the job, the Sales Manager said, “Here’s your catalog, there’s your territory. Now go forth and sell.” That was the complete sales training program in a nutshell. I was lost and it took me several weeks to make the first sale. A kind woman took pity on me and bought one case of toilet paper. I thought to myself, “This is not working.”

Continue reading “First Day of Sales?”

How Serious is Your Sales Training?

Corporate Sales Training

Can we all agree that sales is a profession? If you believe it is a hobby or part-time job, you can quit reading now because this is for professionals only.

I’ve been thinking and writing about sales training a lot lately. Two particular articles, Are you the person responsible for sales training, and How necessary is sales training to your corporate success, reflect some of my philosophy.

I know that training is essential to a company’s success, yet I see salespeople struggling to succeed. Why is this? I can only work from my own experience, and with only one exception, it was not a positive one.

I understand the cost factor in extensive training, but I also know it pays off in the long run. Well-trained salespeople tend to stay longer on the job and make more sales at better margins. That is a win/win to me.

Continue reading “How Serious is Your Sales Training?”

If the Customer is Bored, It’s Your Fault

The sales rep I was working with that day had started his PowerPoint presentation, plowing through the thirty-five slides with maniacal fervor.
I was watching the customer; she was beginning to roll her eyes. She looked at me as if to plead for relief. I bumped the sales rep’s foot to get his attention, but his focus was intense.
Then I reached into the sales rep’s computer bag and brought out a sales agreement. That finally diverted his attention from the computer screen.

Continue reading “If the Customer is Bored, It’s Your Fault”

Are you the person responsible for sales training?

Are you responsible

When I started in outside sales, the Sales Manager handed me a 3-ring binder and walked over to a map on the wall. He raised his arm and, with an extended finger, pointed at the map, drawing a lazy circle around an area an hour from the office. He said, “We don’t have customers in this area, so you can call on anybody you like.” It was virgin territory with no list of customers or prospects. That was my training!

Time Passes

Decades later, I became the manager of a wholesale/retail business. In the beginning, I watched the operations to see how things ran. Quickly, I began to notice inefficiencies. 

Continue reading “Are you the person responsible for sales training?”

Are Great Questions a Skill You Want?

Red letters with Questions with a blue question mark

“After every difficulty, ask yourself two questions: “What did I do right?” and “What would I do differently?” -Brian Tracy

Asking the wrong question over and over again will never result in a good answer. Over the years, I have witnessed ill-prepared salespeople ask the wrong question, ask a bad question, and get frustrated when the prospect shuts them down.

The Importance of Questions

Well thought out questions are a salesperson’s best friend. They help uncover problems the prospect is experiencing. It can help them discover ‘who.’

Continue reading “Are Great Questions a Skill You Want?”