Talking To CEO’s

/in /by

The Universe has a funny way of working. It seems to have the attitude of,  “I’ll allow it to happen when it’s ready to happen.” We see this in all phases in our life. We really want something—really bad. But we don’t get it. Then later, we realize we really didn’t want it. What if we were to get everything we think we want? Not so good. The Universe usually knows best.

It’s that way in business too. Everyone’s talking about how they have to call higher or get wider in organizations (call on the President.) But yet, when I ask what they’re going to talk about when they get there, I get mush.

Recently I did an exercise with a client called “Value Mapping.” We looked at the kinds of problems they could  solve for their clients, what kind of value those solutions would bring to their clients, and at what level that value was felt. 

We quickly arrived at the conclusion that much of the value was felt at the CEO level.  Yet, when I asked the account development people what kinds of conversations they had when they got in front of CEO’s, the answer was “We never talk to CEO’s.”

Again, could it be that they aren’t getting in front of CEO’s because they never thought about it? Probably not. I used to think our reluctance to call on CEO’s was caused only by our own self-image. However, I’m beginning to see that there is another issue. Our reluctance stems more from our ignorance of how they think and what they want to talk about than it does our self-image of deserving to be at that level.

Therein lies a nagging and continuous problem in the communication of your value to your client companies. That is – the person who gets the most benefit from your product seldom knows or is involved in the sales process upfront. That would be the CEO.

The first critical point in understanding the discussion you should have with a CEO is to understand how your value or your solutions impact the following areas. These areas I list are the five most relevant topics a CEO deals with daily.  So as you go through this list of five topics, scribble some notes at the end of each paragraph if you bring any value in helping them deal with these issues.

Profitability
Most CEO’s I know have a financial mind. They care about the net income of the company, either on a monthly, quarterly or annual basis. They also care about the trends and the indicators that lead to the final numbers. Does your solution have any impact on profitability?  If so, your conversation with this CEO is quite relevant. If not, maybe you haven’t looked deep enough. The prospect is not going to connect these dots for you. You’ll have to do it yourself.

Employee Retention
With a tight labor market (unemployment less than 5%), especially in key positions, the CEO knows that she has to hang on to her best people. If you provide a solution that helps make employee retention more successful, you will have her ear.

Revenue Growth
Every CEO cares about new business capture, client expansion, new markets and general sales numbers.  They may not care about the process their managers go through to get those numbers, but they do care about the end results. Do your solutions touch that at all?  Before you say no, check it out. Do a mind map, where you start at the left of the page with the problem your company solves—then move to the right with the total impact of that solution. I’ll bet you’ll find some connection between what you do and their revenue.

Market Capitalization
If you are calling on publicly held companies, market cap is a big issue. If you’re calling on privately held companies, “creating stakeholder wealth” might replace “market cap” as the relevant topic. Peter Drucker says, “Businesses are in existence not to create profit but to serve customers.” While I agree, “creating profit” is a first cousin to customer acquisition and wealth for the stakeholders (not just the owners, but the employees, clients, vendors and the entire array of support people).

Vision and Strategy
Most CEO’s, if they are not visionary, should be. Most CEO’s, if they don’t have a strategy, should have one. Sometimes the very simple notion of you asking the questions about vision and strategy will cause the CEO to think about it at a different level. Just because the CEO talks about his vision and strategy doesn’t mean the other people in the organization understand what it is.  j

john Kotter in Leading Change says, “Less than .05% of the time in a leader’s day is spent dealing with company vision.”  So one must never assume that the CEO has done a good job of communicating that vision down the chain.

So as you go through these five relevant CEO topics, do you see any that you could help her with? If there is no link, then say that. But if there is a link, then you can look that CEO square in the eye and say “Ms. CEO, we help organizations who are looking to increase market capitalization and who are looking to expand their customer base.  We’ve got solutions to those problems. You have to tell me whether these topics are relevant to you.”

Check Out Your Selling Language. Is it Empowering You?

/in /by

We did a role play the other day in one of our clients. I was looking for language (the words sales people used). After the exercise, the group got into a heated discussion about the language of the new selling philosophy. We then made a list of the words of Selling in the 1900’s. And compared that to selling of the 2000’s.

Read these and check out your language. The language of the 2000’s is empowering language that will keep you in control of the sales process.

The Old Language
 What do I need to do to get your business?
 Here is what this product does.
 Is there any way I could get a meeting with him?
 I really need to see you.
 Here’s what we do…
 How much do you want to pay?
 I’m so excited to be here and to tell you what we have.
 I think I can beat that price
 Features and Benefits (galore)

The New Language
 I’m not sure I can help
 Regardless of what the product does, what are your objectives?
 What kind of cash flow are you expecting?
 What are you hoping the Return on Investment to be?
 Have you done a financial impact study?
 How does this fit with your customers?
 Who else cares about getting the problem solved?
 Why wouldn’t you just keep using the same vendor?
 Let me share with you how our process works

Hope this helps you take stock of your language in your sales process. Check with your manager (or someone around you) to see what they hear.

====================================================

Coming Soon. Technorati tags.

<a href=”http://www.technorati.com/claim/uftwpsn6a” rel=”me”>Technorati Profile</a>

THE DEATH OF THE DECISION MAKER

/2 Comments/in /by

I had a revelation this week that has led me to think about an old “sales 101” rule in a completely different light. If you’ve been a salesperson for longer than 10 minutes, you certainly know rule #1 is to always talk to the decision maker. “Get past the gatekeeper….find the decision maker….”

You’ve heard this in sales training class for decades. But I’ve decided to re-write the rule. Here’s the deal: There is NO SUCH THING AS “A” DECISION MAKER anymore.

Gone are the days of “my way” or “the highway” management and people making decisions at their desk or over a two martini lunch. Without question, virtually every decision made by a purchaser includes input from more than one person. Granted one person may have veto power over the decision, but rest assured that that person is collecting input, opinion and data from others.

Here’s how I’d suggest you change your process given this new vane of thought:

1 -Talk to EVERYONE who will be impacted by the purchase. If you sell dump trucks, don’t just talk to the owner of the construction company, talk to the driver’s who will be using your equipment, talk to the dispatchers, talk to the maintenance people, and talk to the CFO. All of these people will be both involved in the decision to buy your dump trucks AND in the longevity of your relationship.

2 -Stop worrying about hurting people’s feelings. I hear this in our sales training classes a lot. “I don’t want to offend my buyer by going over their head.” That’s like saying, “I don’t want to tell that guy with cancer that I have a cure, because I only deal with his spouse.” INSANE. You’re there to HELP-not to keep everyone’s feelings from being hurt.

3 -Make it part of your process from Day 1: Be sure to tell new prospects the first time you meet them, that you’ll be talking to several people in their organization as you attempt to offer them a viable solution. You won’t get nearly as much resistance if you tell them upfront you’re going to talk to their boss than if you wait until it’s too late.

The death of “the decision maker” is upon us.

Bonus 3: 2008 Sucess Insights Audiobook

/in /by

Never-before-offered-collection of the highest insights to change your thinking about what it means to sell in this decade. These come from a 20-year history of training, consulting, and coaching some of America’s top sales teams. (Value: $49)

                  

                              [display_podcast]

Bonus 2: Most Pressing Sales Problems 2008

/in /by

A one-hour teleseminar recording with the answers to the most pressing sales problems of 2008. Bill Caskey walks you through the scenarios that do the most damage to your sales process and your income. The research came from a national poll of sales people. (Value: $79)

 

                               

Bonus 1: 5 Strategies For Selling In A Slowing Economy

/in /by

A 90-minute teleseminar recording on what really happens in an economic slowdown when buyers are reluctant to make a move. If you’re in B2B sales, you will learn new ways to think about your market, your value and yourself during the slowdown. (Value: $79)

                                                                 
                                [display_podcast]

Blog Authors

/2 Comments/in /by

We love to hear from our readers. If you’d like to contact our authors privately to suggest story ideas or critique their writing, here is their information:

Bill Caskey: mailto:[email protected]

Bill is a sales development leader and experimenter. His ideas about selling are convictions about life, money and meaning. He has coached sales professionals and executives for over 20 years. And his philosophies and strategies have fueled explosive growth in sales and profits for clients.  Click here to learn more about Bill Caskey.

If you’d like to have someone from our company contact you immediately, please fill out the form below.

“How Can I Regain Control of a Sales Process That’s Out of Control?”

/in /by

I got this question from one of my clients last week. The more I thought about it, the more I realized that this is a common problem for sales professionals–especially in complex (long) selling cycles.

Let’s start at the top. You are in sales to solve problems. The solving of your customer’s problems will pay you GOBS of money (more money than merely ‘selling them stuff’ will). You must recall that there is a natural order to life in sales.

Problem. The Process. Then Product.

When you begin a process, the customer problem should be at the top of the agenda. Every time you meet with your prospect, you start with “can we review the pain?” (Maybe not those exact words, but you get the idea).

The reader’s conundrum comes later in the sales process when things drag down–momentum gets lost. Here’s the revelation: The velocity is lost because the original problem has worked it’s way down the priority list. It’s nowhere on an agenda. It’s not top of mind anymore.

In fact, I’ve seen sales processes that get bogged down–and when I ask the seller, ‘when’s the last time your reviewed the customer’s problem?’ they say, “not since the first call.”

Hmmmmm. Something odd going on here.

The main reason you’re going through all of this work is not even talked about anymore???!!! Lesson: You must keep going back to the original reason–the primary purpose of the sale. Revisit the pain, often.

They Won’t. You Must.

But the prospect won’t do this on his/her own. You’ve got to do it. So that was my answer–unglamorous as it was. No cool, one-liner. I didn’t even resurrect the late 60’s sales move of, “if I could show you a way, would you buy today?” Just plain talk about what’s really happening.

==We’re going to be doing more ‘ask the coach’ in our blog. So fire up your fingers and pose your toughest challenge (or email us).

How’d You Get To Be A Star?

/in /by

Recently the NYTimes Magazine ran a piece written by the Freakonomics guys, Dubner and Levitt. The article was titled, A Star Is Born. Get it and read it. It provides a wonderful look into the traits of high achievers. No reason to go into a lot of detail here–only to say that everything in the piece applies to you and I in business–and is more profound than most ‘how to’ books.

As sales coaches, we are constantly on the lookout for information that helps propel the high achievers–and at the same time–watching for data that suggests what might get in the way.

My lesson from the article is that talent is not all it appears to be–something a person is born with naturally. Jordan isn’t Jordan and Gretzky isn’t Gretzky without a lot of grueling work. They might have been on the team without hard work–but they wouldn’t be icons without it. A lot of pratice. A lot of coaching. And a lot of goal setting. All the things we teach everyday.

If your results aren’t where you think they could be, then maybe you aren’t committed. (I ask myself that everyday since I believe that what shows up in our life is exactly what we are committed to). Dubner and Levitt will tell you that you haven’t practiced enough, haven’t worked hard enough, haven’t set the right goals, haven’t gotten enough coaching and feedback.

Read the article and give me some feedback. Anxious to hear what your perspective was.