For years, my wife has been talking about making changes in our house: new kitchen, new bathroom, new flooring, new front door. New! New! New! The last couple of months the talk has changed to making improvements on the house. We need improvements to the kitchen, the bathroom, a more heat efficient front door. Suddenly, I am all ears. I’m figuring the changes are the same but for some reason I’m buying into the message she is sending. Then it dawned on me that she was talking about value instead of growth. There are two kinds of Stocks – Growth and Value. I went and took a look at the history of which stocks did better during the last decades:
Since 1982, the growth stocks have beaten value stocks during:
1982
1985
1987
1989-91
1995-99
2007
A year ago, I could sell anything that talked about growth. “Better faster” was the way to position a new product. Today, it is all about value. It doesn’t matter the cost of the service as long as the value is substantial. Value is everyplace – on the news, at the water cooler (if you still have one, because using tap water is a better value), and at the home.
The Melting Pot Restaurant down the street from me had a huge Valentine’s weekend. Not because they were the cheapest restaurant around, but because they delivered a great value for those seeking a romantic dinner.
Last year, was the year to talk about new and different summer camps for our children, this year it is about the value they receive from the camps.
Every Executive I talk to has no budget. Every executive I talked to last year had no budget. I don’t think any executive will ever have a budget. This year, we believe them. We have been so in tune with the doom and gloom, that we believe the hype about no budgets. In fact, they believe they have no budgets. BUT THEY DO. They just need to make sure that when they pitch the new service internally that they CYA. In a value marketplace, they need to hear about value.
Saturday, February 28, 2009
Friday, February 13, 2009
THe Art of Being a God
Today, a group of my co-workers and I were discussing sales and the economy. As an ISR (Inside Sales Rep or what I like to think of as an Introductory Sales Reps) we were talking about how scary it must be to be an outside Sales Rep in this economy. A year ago, they were making 6-figures selling a 6-figure product/solution. They were pondering whether they were going to make the 100% Club. They were planning a night dinner with their loved ones. Now they are scared for their livelihood. Forget quota, will I even have enough money to pay the bills? Will I be sacked?
I use to have “Minor Video Deity” written on my business card. I remembered the old line from Ghost Busters” – IF THEY ASK YOU IF YOU ARE A GOD – SAY YOU ARE A GOD! I always remembered that my clients are looking to me to make everything great.
We all need to show the little bit of GOD that is inside of us. We are all looking for the little bit of GOD in others.
Today, being the day before Valentine’s weekend, I set up two introductory meetings for my outside sales reps. I could have been happy with two successes and called it a day, gone home hugged my family and told them I had a great day. Instead, I thought about my two sales reps, who had been working all day. They were going to see their loved ones this weekend, and when someone asked them “how are things going?” They might have replied “Well, good, considering the economy. . . ”. Instead, I called each rep and said, “Just wanted to let you know I got you a Valentine’s gift for the weekend . . .”. Now they can say the week ended great, they have an appointment with a major client they have been spending 9 months trying to set up an introductory meeting with these prospects..
On the way home, I thought about the two prospects for which I set up the meeting. They were probably going into this weekend thinking “How am I going to cut cost in the company without cutting jobs?” “How am I going to pull off this major company re-organization?” Now they can go home and tell their loved ones that “This guy called me today and told me about this solution his company has that just might be the fix our company has been looking for . . .”
Have faith in what you do. Have faith in what you sell. Know that the value you bring to your customers is making their lives better too. If you can’t be a Major Deity, be a Minor Deity like Cupid – share a little love too.
I use to have “Minor Video Deity” written on my business card. I remembered the old line from Ghost Busters” – IF THEY ASK YOU IF YOU ARE A GOD – SAY YOU ARE A GOD! I always remembered that my clients are looking to me to make everything great.
We all need to show the little bit of GOD that is inside of us. We are all looking for the little bit of GOD in others.
Today, being the day before Valentine’s weekend, I set up two introductory meetings for my outside sales reps. I could have been happy with two successes and called it a day, gone home hugged my family and told them I had a great day. Instead, I thought about my two sales reps, who had been working all day. They were going to see their loved ones this weekend, and when someone asked them “how are things going?” They might have replied “Well, good, considering the economy. . . ”. Instead, I called each rep and said, “Just wanted to let you know I got you a Valentine’s gift for the weekend . . .”. Now they can say the week ended great, they have an appointment with a major client they have been spending 9 months trying to set up an introductory meeting with these prospects..
On the way home, I thought about the two prospects for which I set up the meeting. They were probably going into this weekend thinking “How am I going to cut cost in the company without cutting jobs?” “How am I going to pull off this major company re-organization?” Now they can go home and tell their loved ones that “This guy called me today and told me about this solution his company has that just might be the fix our company has been looking for . . .”
Have faith in what you do. Have faith in what you sell. Know that the value you bring to your customers is making their lives better too. If you can’t be a Major Deity, be a Minor Deity like Cupid – share a little love too.
Monday, February 9, 2009
THe Art of the LEGO® Principle
I grew up with Legos®. My kids are growing up with Legos®. You can make a billion things with Legos®. Most of us have only made a couple of thousand Lego® creations. Which lead me to an interesting discovery. . . Our house has a box of Legos®. Like most boxes of Legos® it has been sitting in the closet. My daughter wanted a Lego® set for Hanukah. My son and I went down to the Lego® store. While he was reviewing the toys for his sister, I saw that they have a new set of Legos® with US Coast Guard ships and helicopters. I called my dad who is a retired Coast Guard Pilot, and told him about my find. Why had I never thought to build a USCG helicopter out of Legos®? When my daughter opened her present, my son brought out his old Legos® creations and the two played happy . . . Hence: the Lego® Principle.
We all have a list of clients we targeting for sales. Some of the prospects we attack vigorously; others languish in our closets. Those that are languishing are just as viable, we just have forgotten all the billions of possibilities that those prospects provide. We are busy chasing the hot prospects.
A couple of years ago, “Information Security” was a hot topic. I couldn’t wait to call on prospects that needed information protection. There was one scandal or another on the news about major corporations with information leakage about their customers. This past summer, the news was all about the presidential election. No one was interested in Information Security. I had 100 prospects my client wanted me to track down for an introductory meeting. With every “It’s not on my top ten list.” and “we don’t have the money because of the economy.” I started to believe what my prospects were telling me. Then my client handed me four new prospect names. Suddenly, I had 104 prospects and the old prospects seemed new and fun, because I had four new prospects which were new and different. I got the creative spirit back. There were now a billion reasons to talk to prospects about Information Security. The prospects could hear the excitement in my voice. I got two new sales right off the bat. Not with the four new companies, but with two of the old prospects that were suddenly jazzed about talking about Information Security.
We all have a box of Legos® in our sales closet just waiting to be brought out. Dig through the prospects you haven’t called on in a year. Rediscover the billions of opportunities.
We all have a list of clients we targeting for sales. Some of the prospects we attack vigorously; others languish in our closets. Those that are languishing are just as viable, we just have forgotten all the billions of possibilities that those prospects provide. We are busy chasing the hot prospects.
A couple of years ago, “Information Security” was a hot topic. I couldn’t wait to call on prospects that needed information protection. There was one scandal or another on the news about major corporations with information leakage about their customers. This past summer, the news was all about the presidential election. No one was interested in Information Security. I had 100 prospects my client wanted me to track down for an introductory meeting. With every “It’s not on my top ten list.” and “we don’t have the money because of the economy.” I started to believe what my prospects were telling me. Then my client handed me four new prospect names. Suddenly, I had 104 prospects and the old prospects seemed new and fun, because I had four new prospects which were new and different. I got the creative spirit back. There were now a billion reasons to talk to prospects about Information Security. The prospects could hear the excitement in my voice. I got two new sales right off the bat. Not with the four new companies, but with two of the old prospects that were suddenly jazzed about talking about Information Security.
We all have a box of Legos® in our sales closet just waiting to be brought out. Dig through the prospects you haven’t called on in a year. Rediscover the billions of opportunities.
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