Posts Tagged cxo
Effectiveness = Motivation x Confidence x Competence x Curiosity (Mindfulness in Business Meetings)
Posted by Doctapaul in book, Business, Coaching, Leadership, Marketing, Mindfulness, Quirky Ideas, Relationships, Self Development, Selling, Tip for the Day, Training & Development on June 20, 2013
Extract from Quick Guide II: How to Spot, Mimic and Become a Top Salesperson
Most sales training I’ve come across focuses primarily on developing a salesperson’s skills or competencies, for example: opening, qualifying, questioning, advocating, presenting, negotiating and closing. The intention is that, over time with experience, the salesperson will get better and better at demonstrating these skills. It follows logically that they’ll become more confident in their sales approach and thus hopefully more motivated.
I haven’t seen much in the way of material that focuses on engendering an ongoing sense of curiosity, for example, how can I be the best, if not better, at what I sell?
The E=MC3 equation implies that an individual’s effectiveness is three parts mental and emotional (motivation, competence and curiosity) to one part intellectual (competence).
Let’s take a first pass at each of the qualities: motivation, confidence, competence and curiosity.
Most salespeople are motivated to win, especially when the selling is relatively easy. Likewise, most are motivated by earnings and win bonuses. Some are motivated by advancing their career.
What motivates top salespeople? The answers from my research fall into three categories:
1. “To be the best I can be” or “…recognised as the best salesperson there is” – not only the best in terms of results but the best at selling too (outcomes + journey).
2. “To deliver customer value above and beyond that expected.”
3. “To create a legacy so that I am renowned for the value I bring to customers and my organisation’s business.”
In all three categories, the top performers are motivated by being (and being seen as) excellent. ‘Moderates’ talk of winning and earnings but talk less of personal excellence.
I worked with a 26 year old CEO of a recruitment firm who had a good reputation for hiring confident as opposed to arrogant people. I was asked to model how he went about the task. Our conversation went something like this:
Me: “How do you differentiate between a confident person and an arrogant one?”
CEO: “Well, I’m not sure; I just get a ‘feeling’.”
Me: “Describe that ‘feeling’.”
CEO: “Well you just sort of know, don’t you? It’s something you sense….. a gut feeling.”
Me: “Okay, imagine you have an arrogant person to your left and a confident to your right. What’s the difference between them?”
CEO: “The confident person asks questions; the arrogant person doesn’t. The confident person probes for where they feel they’ll bring value to the organisation. They look to find out if they will enjoy the role. They seek opportunities for themselves to grow in the role. The arrogant person takes a position that they have the knowledge and wisdom suitable for the job and makes no effort to see how well they’ll fit in.”
Top salespeople exude confidence by the quality of questions they ask as well as the articulacy by which they convey reassurance. (For a framework with which to construct quality sales questions, refer to the INCREASETM model in Number 1 of this series of business guides, Quick Guide – How Top Salespeople Sell.)
If you stacked all the sales training and development materials in the world on top of one another, you’d probably build a mountain higher than Mount Everest. So I’ll attempt to put a different slant on competence by giving you a customer’s perspective. (For completeness, Appendix 1 lists the skills and knowledge demonstrated by top salespeople at, and away from, the customer interface.)
A corporate salesperson spends, on average, 15% of their time speaking directly to a customer. Ergo, 85% of the time, they apply their skills and knowledge to researching, developing and planning; how to be more effective during the ‘15%’ customer interface window when the occasion arises.
Top performers prepare themselves, intellectually and psychologically, to be at their peak when speaking to the customer. They develop appropriate skills and knowledge (the intellectual exchange) and they also prepare themselves to be in the right frame of mind and body (the mental and emotional exchange) with the customer.
Being perceived as ‘competent’ by the customer requires you to be:
1. Prepared: with insightful questions to ask and have answers to potential customer questions, including facts, data and logic so that your proposals are visionary, ‘grounded in reality’ and hopefully compelling
2. Clear about the outcomes: What do you want to achieve in the meeting both in terms of the task-in-hand and your relationship with the customer (e.g. engender trust). It’s also being very clear about the outcomes the customer might want to achieve, in terms of their task-in-hand and from their relationship with a supplier like you.
Illustration: 4 Outcomes to a Meeting
Most of us prepare ‘box 1’ before a meeting. Many ‘moderates’ omit boxes 2 and 3 above from their preparatory work. Most salespeople miss out box 4 altogether – often because of a lack of self-belief and sometimes unconsciously. They don’t visualise themselves in a picture working closely with the customer.
3. In the right frame of mind: If you were to prioritise the three factors: Prepared, Clear Outcomes and Frame of Mind – which order would you place them?
Exercise: Allocate three weighting percentages (that add up to 100%) against Prepared, Clear Outcomes and Frame of Mind respectively – in terms of how important they are to being successful during (not before) a meeting.
The most important thing you take into a meeting is your frame of mind.
This statement often raises a few queries. It doesn’t say that you shouldn’t prepare diligently for a meeting. What it says instead is – the moment the meeting starts, the single most important factor that will determine your success is your frame of mind. You may well feel you have to do a significant amount of preparation to get yourself ‘centred’, for example. BUT it’s not the process the meeting follows that determines success the most; it’s you, your frame of mind and the thoughts that engender that frame of mind.
Specifically, whatever thought you process in your conscious mind passes straight into your unconscious mind and merges with any ‘subconscious programmes’ running there. The aggregate information is then passed directly to your DNA which vibrates at different rates in accord with your temperament. That is:
The vibe you put out determines your success.
I coached a very successful salesperson who never felt at her best in front of a CEO customer. It took a wee while for us to discover a subconscious programme she’d developed from her authoritarian parents, created by a ‘single significant emotional event’ when she was three years old. Once she ‘released’ this programme, her faith-in-self in front of CEO’s increased significantly. Her sales soared.
Research by scientists (e.g. The Biology of Belief, by Dr Bruce Lipton and The Genie in your Genes, by Dr Matthew Dawson) demonstrates the subliminal communicative functioning power of DNA between human beings which can be harmonious (I prefer the term, ‘resonant’) or out of tune (dissonant) – and at its extreme, disruptive.
Allow me to define ‘being competent’ as not only having the capability to demonstrate requisite skills and knowledge at the customer interface, it’s also about being competent at preparing yourself to be at your peak, to achieve the gravitas (sometimes called ‘traction’) you seek.
Author’s note: gravitas is something we can all achieve; it’s a result not a gift privy to a chosen few. Only 15% or so of salespeople achieve the ‘customer gravitas’ they seek, hence this book!
Let me add, the competence that customers attribute to you will also include an element of the perceived competence of the solutions you bring to the table, i.e. an acknowledgement of the potential of your solution’s value proposition. Put another way, if the customer has little faith in what you’re selling, even though they value your personal contribution, to what degree will you be invited to participate in the decision making process?
We’ve covered two of the three ‘Cs’ in the E=MC3 equation. A salesperson not only has to be competent in following ‘top sales processes’ (and have potentially ‘competent’ solutions); they need to be confident in their ability and motivated to follow those sales processes too. And still there’s one further factor that determines how effective you are (by seeing what’s really going on), a heightened sense of…
Top salespeople are unstintingly curious. For example, they love to be coached. They are very willing to learn how to become more effective at selling.
Top performers focus on working smarter, not harder, than ‘moderates’
You might ask, “Curious about what?” Answer: “Everything!”
Top salespeople probe below the surface of what’s going on – especially when forging business relationships. Like a metaphorical iceberg, they acknowledge that you only see about 15% above the surface; the obvious facts and logic by which a customer makes a decision. But they don’t stop there, they’re proactive to find the real passions and fears which will motivate or deter key stakeholders in the decision making process.
Curiosity is the sonar signal you emit to track changes on your ‘sales radar screen’. You track political, economic, sociological, technological and organisational developments as well as your competitors’ manoeuvres. At the deepest level, you’re tuning into changes in customers’ feelings, e.g. inspiration, motivation, confidence, sense of security, anger and most of all – trust and fear.
There’s more. You also need to be proactively curious about what might happen. I return to this later.
To summarise: selling is three parts mental/emotional to one part intellectual.
E=MC3, it’s not rocket science!
Paul C Burr
Business/Personal Performance Coach & Author
Quick Guides to Business – new page created
Posted by Doctapaul in Business, Coaching, Leadership, Marketing, Quirky Ideas, Relationships, Self Development, Selling, Soundbytes of Wisdom, Training & Development on June 20, 2013
I’ve released a new page in this website devoted to the Quick Guides to Business I’m writing. It will contain links to extracts that you will hopefully find interesting and helpful.
Your feedback about Quick Guides to Business or any aspect of this site would be most welcome.
Paul C Burr
Business/Personal Performance Coach & Author
Successful Business Relationships: The Logic, Premium and Legacy
Posted by Doctapaul in Business, Coaching, Leadership, Marketing, Personal, Pitfalls I've Fallen Into, Quirky Ideas, Relationships, Self Development, Selling, Soundbytes of Wisdom, Tip for the Day, Training & Development, Visions and Dreams on May 30, 2013
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
Business/Personal Performance Coach & Author
To Sell to CEOs: Find What They Value and Fear Most
Posted by Doctapaul in book, Business, Coaching, Leadership, Marketing, Selling, Soundbytes of Wisdom, Tip for the Day, Training & Development on April 17, 2013
Combined extracts from two business articles:
Quick Guide – How Top Salespeople Sell (available from Amazon in US and UK)
Quick Guide II – Learn How to Spot, Mimic and Become a Top Salesperson (coming soon)
“When you’re selling at board level it’s about taking the customer on a journey that’s both fantastic and believable. That is, no matter how complex that journey is…, it’s about breaking it down into manageable chunks. You create a pathway into the future that is as clearly marked out as possible. There will be uncharted territory. So it’s about discerning all the parts of the map that are known from those unknown.
It’s then about pinpointing all the ‘dots on the chart of the unknown’. That is, answering all the ‘what if this happens’ questions.
In effect, you join the dots of the unknown with customer as best you can.”
Top UK salesperson for a global top 10 IT company
Images courtesy of http://misswhit-tany.blogspot.co.uk/
What CEOs value:
The ‘science’ to determine value discovers what’s important to the CEO. And once you understand the customer’s priorities – how do you stack up (against your competitors) to deliver against them?
Here are sources of value (business drivers and problems to fix) that CEOs look for:
• Cash – Will your proposal improve our cash position?
• Cost Down – Will we reduce costs?
• Revenue/Market Share Up – Will we make competitive gains?
• Agility/Speed – Can we move, reshape, transcend quickly?
• Security – Will we be better protected?
• Governance – Am I compliant with Company Law?
• Product/Service/Cost Leadership – Will our own customers notice and value the changes in our organisation that your proposal offers?
• Innovation (e.g. Technology, New Business Models) – Do I want (to be seen) to be first in the marketplace, to do something differently? Does your proposal accelerate the process?
• Personal Credibility – Can I use your proposal to advance my own prospects and standing?
• People – Will your proposal raise the effectiveness and job satisfaction of people?
• Something else? – If you don’t know, ask “What else do you feel is important for me to know?” Even if you feel you know, ask anyway.
Put concisely, you need to understand profoundly what’s important in the heart and mind of your CEO client and convey the value you bring to the table in their language, not yours.
At this stage you may have provided sufficient verifiable value for the CEO to progress the sale. And there’s often a temptation to press on. In doing so, you may miss another, often unspoken, factor that weighs heavily in the CEO’s mind (as well as most of us) – fear.
The more you earn a customer’s trust, the more fears they share with you. They give you more power deliberately to help them.
My thanks go to Professor Colin-Coulson Thomas who shared with me the bounty of a minute fraction of his wisdom, and made a significant contribution to the following list.
What CEOs fear:
• Bad earnings news: the most likely and quickest sign of departure.
• Corporate programs don’t deliver: mergers and acquisitions “achieve 70% of their potential” at best.
• Failure to turnaround ailing sales quick enough.
• Change takes too long: ‘corporate firewalls’ prevent people from getting it done.
• Investors don’t understand: a CEO spends 40% of their time articulating strategy and some argue that’s not enough.
• Personal wealth at risk: e.g. missed deadlines can lead to private investors swallowing up the shareholding of a company
• Lack of innovation: playing it safe is no longer an option these days. Competitors and customers are moving too quickly.
• Talent gaps in performance: e.g. 20% of the sales-force bring in 80% of the revenue.
• Conflict in the boardroom: too much time spent looking inwards leaves too little time to focus on the customer.
• Personal credibility at risk: any of the above means less likelihood of stepping up the ladder of success and/or lack of a legacy of note. These in turn can lead to…
• Personal health at risk: where the stressed mind-body connection can have serious consequences. I know of one CEO who, after missing targets set by investors, developed terrible eye problems because he didn’t like what he saw. Another developed disabling back pain through a lack of self-esteem. Another who was deemed too rigid and inflexible developed problems with their joints.
Your task is to earn the right to zig-zag; to take the CEO on a journey whereby they see your solution working in their organisation and have allayed any fears they once had.
Paul C Burr
Author of Quick Guide: How Top Salespeople Sell, Learn to Love and Be Loved in Return, 2012: a twist in the tail and Defrag your Soul
Quick Guide: How Top Salespeople Sell
Posted by Doctapaul in book, Business, Leadership, Marketing, Self Development, Selling, Training & Development on March 30, 2013
Ebooklet – Quick Guide: How Top-performing Salespeople Sell – for new or seasoned sales professionals, managers and CEOs. You can now download this first in a forthcoming series of business articles from Smashwords.
Paul C Burr
Author of Learn to Love and Be Loved in Return, 2012: a twist in the tail and Defrag your Soul