1 Oct 2009

What’s an owner or manager to do?

Posted by Will Crist

The economic confusion has not yet been resolved. The numbers from the economic indicators that will make the biggest difference have not started upward. It might feel like we are becalmed in the south seas waiting for a breeze.

Alan Beaulieu, one of the country’s most informed economists, presented his forecast to a group of 300 Vistage members and their guests on Tuesday. Thanks to Vistage and their local chairs, Alan’s predictions are now part of the Orange County business conversation.

According to Beaulieu, we are in the late fourth stage of a four-phase cycle.  He comes to this conclusion because enough of the indicators he follows are beginning to trend upward. He doesn’t predict a sharp increase in economic activity as we emerge from the trough. The economy will grow slowly over time. He sees the economy in the process of bottoming out with the recovery phase beginning in August of 2010. So becalmed we are for the next nine months.

But that doesn’t mean the captain and crew sit it on their hands waiting for the wind to return. According to Beaulieu, this is the time for preparation. The wind will come. Those who have prepared with decks cleared, trained hands, a clear direction and sails aloft will catch the first breezes. This is time for preparation and training. Among the things to be considered are training programs, development of advertising & marketing programs, and the maintenance of a "can do" attitude.

In my conversations with business owners and management consultants around the country, I am hearing five things people are doing to prepare for the new wind.

Examine the results of all sales people. Find out what is working and what is not working. When you look at the sales reports for the past six months, what trends do you see? Does anyone’s results stand out? If so, why? Which leads to the second:

Determine what behaviors are leading to success. Find out what behaviors led to success. What is bringing new prospects into the room? What are people doing to get invited into offices? How are they building the relationships that allow people to share their real issues, problems, hopes and dreams? Sit down with your sales people and have a frank conversation about what they are doing and how they feel about what they are doing or not doing. There are generally two reasons someone doesn’t do something: they either do not want to, or they do not know how to. Don’t make the mistake of assuming your people are not prospecting because they do not want to. The old prospecting behaviors are no longer working for lots of sales people these days, and no one is predicting they ever will again.
 
Train your people to prospect in the new wind.
If your people are not finding new customers now, you have the opportunity to help them prepare. As Alan Beaulieu says, this is the time to invest in your infrastructure and your people. If you have a balance sheet that will attract a bank, this is a time when you should be investing in real estate. If you don’t have the balance sheet, you can invest in your people. Hire that one new person who will take you to the next level. Train the people you have. Find out if they want to learn how to create trusting relationships and discover the real issues prospects have today.

People are tired of being sold to. They instinctively push back against someone they think is trying to sell them. On the other hand, without buying services, products, or processes, companies and people will find improvement difficult. It is clear that no one can succeed in this complex world without help of many kinds. The learning before all of us is how to sell without selling, how to build a trusting relationship, and how to get clear about the process of discovering the real issues in others’ lives and businesses without sounding like (or even being) a salesperson. That new wind will be looking for people who know how to navigate in its wake without drowning.

 
Prospect, prospect, prospect.
Before you rush to forward this message to your sales team telling them they just need to do more of what they were doing two years ago, and they need to do it faster, recognize that prospecting is no longer about trying to get someone to buy what you have. It is more about seeking the wind of hope, desire, pain, and struggle in peoples’ lives. There are plenty of potential customers in the business world you call your marketplace who need and want what your people are selling. They are predisposed to buy what you have. The task is to find them. Like children looking for Easter eggs in a yard filled with small, egg-shaped stones, successful sales people tomorrow will be looking for people with needs, wants, and pains instead of trying to convince someone to buy something. As one of my colleagues is fond of saying: Salespeople will become like heat-seeking missiles searching for pain or desire. That is prospecting in the new wind.
 
Track behaviors and results ruthlessly. Finding out what works, and then seeing people commit to trying the behaviors are first steps. Tracking the behaviors and comparing them to the results are essential. Give people the feedback they need so they can see what is working and what is not. Help them see where they are working and were they are not. Don’t accept excuses. Train your people, support them, track their behaviors, give them feedback, and help them be the best they can be. At the same time keep your eyes open to see a great salesperson wandering through your marketplace looking for his/her next great opportunity.

We are all learning our way as we prepare for the new wind that is on the way. If I can be of help to you in the next nine months, do not hesitate to call on me. I am looking for people I can help prepare for the coming wind. Luck is preparation meeting opportunity. I wish you the greatest luck in the next twelve months.

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