Converting Magazine

Mark Spaulding

Should sales "own" your business?
March 13, 2008

Giving your sales staff an "ownership mentality" just might be what your business needs to get to the next level. That was the advice of Rick Farrell, principal with Tangent Knowledge Systems. He spoke on Tuesday morning to attendees at the AIMCAL Winter Management Meeting in Rancho Mirage, CA.

"What if your sales people were given P/L responsibility for all their expenses in their territories? What if they were charged back for all internal resources they used when they sold an account? Would they optimize their assets differently?" asks Farrell. What are these assets and their impact on sales?

1. TIme. Farrell suggests allowing customers to say no earlier than later in the sales process to avoid wasting time.

2. Information. Treat it like intellectual capital and know what can hurt you. Farrell says to time your release of information to when the customer will actually use it so it is the most beneficial to them...and not just free at first.

3. Resources. Use only what you need to use when you need to use it.

4. Relationships. Everyone knows the adage that "people buy from people they like," Farrell reminded the audience, but added that today it also means buying from people "who know their customer's business and help the customer sell their products."

5. Self-esteem. Because rejection kills it, Farrell advises salespeople to stop making so many offerings and to be more discriminating with proposals. The fewer the rejections overall, the higher your self-esteem, which is too valuable to damage.

Posted by Mark Spaulding on March 13, 2008 | Comments (2)