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Goal Setting for 2012. Is A Doubling Of Income Possible?

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Well, you probably read that and say, “I don’t see any way at all I can double my sales next year. Especially in this market.”

In fact, that may be so much of a stretch that you decide NOT to watch the video. And what a mistake that would be.

This Whiteboard Wednesday is designed to “shock you” a little. Maybe you just need a jolt to your system so you can break free with some new thoughts.

Bill Caskey takes you through a Goal Setting exercise that the Caskey team takes their clients through. So, grab pencil and paper and play it out as you watch it unfold in front of you.

After you’re done, we think you’ll see things a little differently. So, you may not get to a doubling (or, you might) but what we’re after is a “change of thought.” And that will guide you to new goals you will accomplish.

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Interview An Expert

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Interview an expert.

That’s right, purchase a $100 piece of equipment that you can record on the phone (or do it by SKYPE…it’s free)

  • And ask them questions about the industry you’re in.
  • Ask them about their vision for the future.
  • Ask them what they see as trends in your business.

Then, put it on your channel.

By interviewing experts, you re-classify yourself as an expert.

-B. Caskey

Skills For Your Future

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What are the skills that you will need to excel? Not just survive but excel? You should be doing this exercise once a year because skills change. It used to be that sales people did not need to know how to write, so copywriting skills were optional. Not anymore.

What other skills are required for your future business that you’re a little weak on? Now, go to youtube and search on those skills with the key word “tutorial” after. Then, spend 5 hours on each of the skills you identify. Watch what happens.

-B. Caskey

Take Note of The Things That Speak To You

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Read and make note of those things you read that really speak to you.We might read a 300-page book…and see only 3 things that spoke to us. That’s fine.Take those three things and try your hand at writing about them.

You learn more when you write about something.

  • Why did they speak to you?
  • What will you miss by not adhering to those lessons?
  • How have those lessons shifted “how you think?”

-B. Caskey

The Monetary Benefit of One Idea

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I have a client who is in one of our training programs, and once a quarter we’ll get together and talk about his business. You might call it “personal coaching,” but it’s really just me hearing what his struggles are and giving some advice and tips and ideas on how he might be able to alleviate them.

The thing I love about his approach is that he always tells me what each idea I give him could be worth.

About two months ago, I suggested to him that in his sales process he put in a “diagnostic assessment” that allowed him to assess the customer’s business in a way that would help him determine if he even wanted to spend any time with that customer. And, of course, it would help the customer know if he/she had pain that was worth spending any time to fix.

Prior to this he had only asked questions and taken opinions from prospects. He had never put in any kind of a process/assessment. That idea just earned him a $1.3 million sale, which will generate about $300,000 of net profit in his business—one idea, $300,000.

But That’s Not Typical

What’s more typical is that ideas that we toss around in training meetings and coaching sessions go unused. They go unused because most of us have no way of executing anything new. We get so rigid in how we’ve done things that a new idea goes in one ear and out the other.

The Challenge

In 2011 I have a challenge for you: Make this the big idea year. And big ideas don’t mean earthshaking new ways to do business. It could be a very small idea that becomes a big idea because it leads to a windfall of economic benefit.

So the next time you ask someone for advice, and they give you something, don’t let it pass through your brain without filtering it through to see what that one idea could be worth. New ideas are the coin of today’s realm, but they’re worthless if no time is spent understanding them and deciding how they can be of economic benefit.

The High Hazard of High Emotion

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We love emotion don’t we? When we see a coach ranting and raving on the sideline, we say, “Boy, look at that passion!!” Usually, what we mean is “He’s come unhinged-but it’s for a good cause.”

But is out-of-control emotion all it’s cracked up to be in the sales cycle? I say, “No.” Here’s why.

We have a saying in our business when we’re working with clients: “The only emotion that should be seen is the prospect’s demonstration of emotion of why they need to fix their problem.” Not only does your emotion (desire to sell the product, desire for the resulting income, ego satisfaction) not help, it hurts the process.

You want the prospect’s emotion to fill the air and the space between you and him. The more your emotion is on display, the less room there is for theirs to play out.

Catch Yourself

Believe me, this is hard for me to do…and I see it difficult for others. When your points are falling flat and your customer resorts to “Your price is too high,” you WILL get emotional. But it won’t come out as passion…yelling…screaming. It will come out as defensive. And the instant you go defensive, you’ve lost the battle.

Write down the thing that your prospect commonly says that drives you crazy. Then come up with a strategy/device so that when they say it, you stay calm and in the moment. Then you can, logically, walk thru how they got to that decision/conclusion.

And, of course, practice detachment. If it is not meant to be, then you must move on. But don’t use detachment as a way out of the process. Detachment is merely a ‘way of being’ so that you can logically sort out the truth.

Stop Asking “What’s Your Problem?”

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They won’t have an answer for you…so stop with the asking.

We teach the concept of finding the problem when we guide sales professionals. Yet, how often we hear our clients come back and say “They didn’t have any problems. I asked them and they couldn’t think of any.”

OK. One gold star for asking the question. But two BLACK stars for not asking in the right way.

If your prospect is unaware of problems he/she has then asking them about them doesn’t help them much.

A better approach is to have a list of the 5-10 problems you help companies solve (or address).  Make a list of those and put them in a document. Then, as you begin your sales conversations with people, bring out the ones that are the most relevant.

Some will look at this as some kind of cheap trick–or crutch. We say it’s a great way to keep the conversation focused on the problem the customer has rather than on the product you have.

Do You Understand Your Sales Funnel?

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The proverbial sales funnel seems to be the ‘defacto’ way to measure results. No, it’s not always ‘revenue in’…it’s “what’s in your pipeline?” (Do you wake up in the of a nightmare hearing your sales leader shouting that question to you?)

Not sure how we got to this point, but this short video blows up a little of our preoccupation with “funnel” because it highlights an important part–not all people in your sales funnel are equal. Nor should they be treated that way.

I Love “Low-Hanging Fruit”

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Why does “low-hanging fruit” get a bad rap. Why shouldn’t every business-to-business sales organization be totally focused on low-hanging fruit? Answer: They should. In my world (the world of sales training), low-hanging fruit is defined as the following:

  • A business that has a problem that they are totally committed to admitting and fixing, and they don’t need a salesperson convincing them that they should do something about it.
  • A business organization that has the funds to devote to solving the problem. (In other words, they have the budget and/or will spend money to fix it.)
  • A company that is open-minded and looking for outside help in solving of inside problems. (Some companies aren’t, and if you’re an outsider then ditch them and move on.)
  • A client who doesn’t see you as a vendor—but sees you as a provider of a valuable solution that will improve the wellbeing of the people at the company. (The instant you get into you vs. 10 other bidders, get out.)
  • A company that gives you access to information and people. (They don’t hide the CEO, the CFO or the COO because there’s a policy that they don’t see salespeople.)

Believe it or not, there are companies around that have these characteristics. And if you define these as low-hanging fruit, then have at it. I would suggest that if any one of these elements is not in place, then you have to reach too high, which will take more time, which will cost more money, which will rob someone else in the market of your value.