Archive for category Visions and Dreams
My latest booklet, Quick Guide III – How to Bridge the Pillars of Successful Relationships (QG3), focuses on complex, inter- and intra- corporate, many-people-to-many-people, business relationships.
There are sound, logical, rewarding, tangible and emotional reasons for building healthy relationships. These very same reasons apply equally to personal relationships.
Here’s an extract from QG3…
Logic – less cost
Research shows that once you’ve established a customer relationship based on mutual trust and value, it takes five times the effort to build the same relationship with a new customer as it does to maintain it with your current customer.
When the cost of new prospect sales is five times that of existing satisfied customer sales, you don’t need a certificate in mathematics to appreciate the importance of satisfying, if not exceeding, the expectations of existing customers irrespective of the premium you earn from brand loyalty.
Premium – higher earnings
A reputable brand image makes selling a lot easier. I had no problem whatsoever getting to see new clients when I worked for IBM. Cold-calling for an organisation that isn’t a ‘household’ name, however, was a real ‘eye-opener’ for me after I made the switch.
The value of your reputation is the premium that customers will pay to do business with you over and above what they will pay your competitors, all else being equal, plus the cost reduction in sales your brand reputation affords you.
A simple example: ‘Household-name’, supplier A, renowned for its high quality products and services, sells a PC. ‘Relatively-unknown’ supplier, B, clones A’s PC with the exact same components, guarantees and terms of service. Intrinsically there’s no difference between PCs from either supplier. The cost of production and distribution of each product is the same.
Look at the buying/selling process from a customer perspective. All else being equal…
- What price difference will a customer pay (for the increased: reassurance, sense of status or another emotional, differential source of value they feel) for a PC from supplier A over supplier B?
- Reduction in sales cycle time and resourcing: how quicker and easier is it for a seller to convince a customer of the quality of a PC from supplier A compared with supplier B?
Brand value = [(what customers pay you) – (what customers pay for the exact same product/service from your competitors)] + (increase in productivity/cost-reduction in sales afforded by your brand)
Legacy – higher contribution
How do you want to look back on your time in sales and management at the end of your career? How do you want to be remembered? As a seller, buyer or leader: do you want to feel you’ve kept (or at least strived to keep) the agreements you made?
Maybe a business world forged with 100% truthful relationships is somewhat of a pipe dream, but as you look at the world’s economy and the ‘wars’ for limited resources right now, what choice do we have? And we have to imagine something before necessity will mother its invention – do we not?
‘You’ can either contribute to a world where wealth and power are shared through equitable negotiation – or not, truth or illusion/deception, abundance or scarcity, oneness or separateness, love or fear. ‘You’ choose! (But this is the topic contained in another book of mine, Defrag your Soul.)
Paul C Burr
Extract from Quick Guide – How Top Salespeople Sell
Picture courtesy of Electronic Payments Coalition
The higher up a corporate customer’s management hierarchy you call, the more uncertainty there is to deal with. At operational levels, you deal with business unit managers who, by and large, are all measured against the same tangible yardsticks of performance.
Once above that level you deal with leaders of change who, by definition, are looking to do things that haven’t been done before. They focus on defining and creating new realities. They are the ‘harbingers’ of tomorrow’s world.
The ‘harbingers’ delve into the unknown. Their task is becoming increasingly difficult because the unknown, aided and abetted by ever increasing changes in technology, is getting larger and darker. There’s much more data about what’s going on but can it be extrapolated with confidence into the future?
There is very little data that accurately measures what the world or business may look like in anything beyond six weeks hence.
I went to series of banking seminars in and around mid 2008. Were there ‘green shoots’ appearing in the economy? Were we in an elongated dip? Were we starting a ‘double dip’? Nobody could predict accurately. Any form of optimism was mooted very cautiously. More data was called for. More analyses were completed. Did they make any of the forecasts more believable? No. Bankers and politician’s couldn’t predict the future with any sense of accuracy. They/we still can’t.
We live with more data, more unknowns and more uncertainty than we ever have because the future happens a lot more quickly than it used to.
The more uncertainty faced, the more we need to put trust in our advisors and ourselves. But trust is not truth.
Trust is the gap between what we know and what we put our faith in.
Here lies the role for, dare I say, a ‘newish’ generation of salespeople. There was a biggish fad a few years ago to develop salespeople to become ‘trusted expert advisors’. My personal experience is that you can count on one hand the number of ‘broad-based industry experts’ in, for example, a global IT sales organisation who know as much about, say, banking as the bankers themselves. And even then you might find you have three or more of your fingers missing.
The new sales role is more than mentoring and different. The relationship with the customer still requires a huge amount of trust but the ‘new salesperson’ doesn’t need to be an industry expert. Instead, they develop the expertise to help explore uncertainty and find answers in the hidden nooks and crannies of the psyche of their customers’ organisation.
By psyche, I mean the intellectual and emotional capabilities of its leaders and workforce. These salespeople don’t have magical answers. Instead, they have magical questions that spark the customers imagination into collaboratively putting together a believable ‘image-in-ions’.
This is about making the sales/customer relationship equation: 1 + 1=3. The sum of the parts is more than each party can bring to the table on their own. But this is a relationship that transcends trust, it’s rooted in truth. There are no hidden agendas.
When you exchange truth with another wholly, you no longer need to trust them. What remains is your trust in yourself.
This is more than being an ‘honest broker’. The salesperson of the future will still bring skills and know-how of their own industry to the table. BUT, the top salesperson will be an intrepid explorer too; capable of guiding clients into the unknown and back again safely. They achieve this by knowing how to find and help release that which holds the client back, namely fear.
Only four things hold us back in life: shame, anger, sadness and fear. When you look inside these negative emotions, you discover they’re all fear. The opposite of truth is falsity. Behind all falsity lies fear.
The top salesperson earns the customer’s trust because they deal in truth, and only truth. Truth drives out falsity which ultimately releases fear. More than trust, truth forges a relationship that can connect to the ‘greater good’ for all involved.
A business world forged by relationships rooted in truth might be a pipe dream. But we have to imagine it before we can create it. As we look back over history and specifically the world economy over last few years, it begs the question, “What sustainable alternative do we have?”
When you choose not to shine light into the shadows within your psyche, you attract people and situations that mirror those shadows. They point, to help you return, to the spiral path your soul seeks.
The path lies in front of you always. Look for it.
When you look and the time is right, your inner seer will speak.
The seer speaks from the stillness, deep down, within your body, not your mind.
Choose courage. Heed the words.
Give them the acid test for surety.
Do they uplift your, and others’, consciousness?
If so, act upon the words given.
If not, avoid; tis’ your false ego fobbing you.
You already possess the answer to every question you ask.
Image sourced from tompagano
Paul C Burr