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Digg it UP - How to Shorten Your Sales Cycle?
Why identical twins don’t have identical first namesThough they may look the same, they’re not. Just ask their parents. Even as newborns, they could tell them apart, and as they grow up, they’re distinctions become ever more pronounced. This is why we don’t give twin babies the same first names.In the business world, this idea would seem to carry over as the foundation for a common sensical approach to branding —that different products need to be different brands with different names. However, the only thing common about this sense is that it’s all too commonly ignored in the hopes of cheating risk and the possibility of failure.Overextended brands are like overstretched rubber bandsEveryone’s heard of a company called Kraft. “Hey, those are the cheese people.” Yep. For years, Kraft and cheese were synonymous. It was a Corporate Branding with a position competitors would h
To begin with, many sales people just don't know how long their sales cycle is, we ask and we hear things like "depends" (sometime it fits), "it changes" (it always seems longer during Daylight Savings Time), and the all time favorite, "well you know it's different in our business". Well
While I’m not prone to stereotyping, it has been my experience that there are generally two types of people: those that don’t know what they don’t know and those that do, in fact, know what they don’t know. All other things being equal the difference between the two groups boils down to experience and discernment.Those people who don’t know what they don’t know typically tend to be either younger professionals beginning their careers who have a lack of experience, or older professionals who have not gained wisdom and maturity as they have progressed along their career path.The Early Stage Professional: On the positive side of the equation young, inexperienced and energetic professionals sometimes accomplish great things because they don’t have the experience to know what they are not supposed to be able to accomplish and as a result sometimes appear to achieve the impossible. Howev
Looked at another way, if we both got $2,500 every time we got to Long Beach, and another $2,500 every time we got back to Toronto, Barry would collect $187,500 in a 225 day work year; while I would only collect $102,272 in the same period. Wow, not what you'd call chump change!
We see a similar phenomenon with many of the sales people we work with, some close a sale in 16 weeks, while the lady in the next stall closes the same type of deal in 12 weeks. What ever other skills and abilities may be at play, it is clear that with a shorter cycle, she will sell more, earn more, and probably last longer in her position than Mr. 16 Weeks.
Shortening your sales cycle is one of the easiest and most efficient ways for an organization to increase sales and simultaneously reduce the cost of sales. This in itself is not news or a revelation, most Sales VP's I work clearly state that they want to help their people reduce the sales cycle, but many are just not sure how to do that, some lack the conviction, but as always, some just do it intuitively and can't seem to sustain it over time.
To begin with, many sales people just don't know how long their sales cycle is, we ask and we hear things like "depends" (sometime it fits), "it changes" (it always seems longer during Daylight Savings Time), and the all time favorite, "well you know it's different in our business". Well
How much should I charge for my expert witness services? It’s an important question that will determine the success of your consulting practice.You can establish competitive pricing levels in several ways. One way is to discretely conduct some research to find out what other experts are charging. Another way is to review pertinent court records, since experts have to disclose their rates as part of their Rule 26 or equivalent reports.SEAK publishes a reference book that you might find useful in creating your rate structure. Ask for the “National Guide to Expert Witness Fees and Billing Procedures,” written by Alex Babitsky, MBA, Steven Babitsky, Esq., and James J. Mangraviti, Jr., Esq.Now that you have a better sense of how to set your hourly rates, here are five tips to help you prepare a competitive rate card:1. Get it in writing! Always start with a letter of engage
Looked at another way, if we both got $2,500 every time we got to Long Beach, and another $2,500 every time we got back to Toronto, Barry would collect $187,500 in a 225 day work year; while I would only collect $102,272 in the same period. Wow, not what you'd call chump change!
We see a similar phenomenon with many of the sales people we work with, some close a sale in 16 weeks, while the lady in the next stall closes the same type of deal in 12 weeks. What ever other skills and abilities may be at play, it is clear that with a shorter cycle, she will sell more, earn more, and probably last longer in her position than Mr. 16 Weeks.
Shortening your sales cycle is one of the easiest and most efficient ways for an organization to increase sales and simultaneously reduce the cost of sales. This in itself is not news or a revelation, most Sales VP's I work clearly state that they want to help their people reduce the sales cycle, but many are just not sure how to do that, some lack the conviction, but as always, some just do it intuitively and can't seem to sustain it over time.
To begin with, many sales people just don't know how long their sales cycle is, we ask and we hear things like "depends" (sometime it fits), "it changes" (it always seems longer during Daylight Savings Time), and the all time favorite, "well you know it's different in our business". Well
The StoryAs a child growing up, one of the many life lessons instilled in me was to wash your hands before eating and after using the restroom. As a child I often played in the dirt and places where germs customarily manifested. Another lesson I learned growing up was when introduced to new acquaintances always shake their hands. It is said to be a polite thing to do, and demonstrates a sign of friendly reception.I can’t remember the first time I shook someone’s hand, but as an adult I have learned the different handshakes I detest and those I most appreciate. It is frequently said that the handshake is a window into the personality. For example, on the phenomenal television show “Survivor” during the last episode the tribal council selects the winner of the contest. Before the vote, seven remaining tribal members were given an opportunity to ask a question or make a statement to the
We see a similar phenomenon with many of the sales people we work with, some close a sale in 16 weeks, while the lady in the next stall closes the same type of deal in 12 weeks. What ever other skills and abilities may be at play, it is clear that with a shorter cycle, she will sell more, earn more, and probably last longer in her position than Mr. 16 Weeks.
Shortening your sales cycle is one of the easiest and most efficient ways for an organization to increase sales and simultaneously reduce the cost of sales. This in itself is not news or a revelation, most Sales VP's I work clearly state that they want to help their people reduce the sales cycle, but many are just not sure how to do that, some lack the conviction, but as always, some just do it intuitively and can't seem to sustain it over time.
To begin with, many sales people just don't know how long their sales cycle is, we ask and we hear things like "depends" (sometime it fits), "it changes" (it always seems longer during Daylight Savings Time), and the all time favorite, "well you know it's different in our business". Well
Before I begin, ask yourself the following 3 questions:1.) How do I define success?2.) What are my goals in life?3.) How do I plan to achieve those goals?If you can answer those 3 questions definitively; meaning you didn't provide answers like1.) Success means alot of money,2.) My goals in life is to be happy and be financially free,3.) I don't know ...then you have the foundations of what it takes to be an entrepreneur.So what characterize an entrepreneur? What make a person think they have what it takes to become an entrepreneur and startup his/her own business? Well there really isn't one definitive trait. However, they have a tendency to be rebels, outsiders, original thinkers, risk takers and break new ground. Entrepreneurs are always on the lookout for new business opportunities and have the guts it needs to start up a business. The
Shortening your sales cycle is one of the easiest and most efficient ways for an organization to increase sales and simultaneously reduce the cost of sales. This in itself is not news or a revelation, most Sales VP's I work clearly state that they want to help their people reduce the sales cycle, but many are just not sure how to do that, some lack the conviction, but as always, some just do it intuitively and can't seem to sustain it over time.
To begin with, many sales people just don't know how long their sales cycle is, we ask and we hear things like "depends" (sometime it fits), "it changes" (it always seems longer during Daylight Savings Time), and the all time favorite, "well you know it's different in our business". Well
Skimming is the removal of cash for a victim company before the transaction is entered into the accounting system. Since skimming is an off the books type of fraud (it is never recorded) there is no direct audit trail therefore making the fraud difficult to detect. The employees with an opportunity to commit skimming schemes are those who deal directly with customers or those that handle their payments. This article will cover the four main categories of skimming schemes and discuss some of the red flags for detection of the fraud.Unrecorded Sales The most common form of skimming is not recording the sale of goods but collecting the money from the customer. Despite controls such as register tape, managers, and surveillance equipment, employees may be able to manipulate the system in order to prevent fraud detection. In some examples of unrecorded sa
To begin with, many sales people just don't know how long their sales cycle is, we ask and we hear things like "depends" (sometime it fits), "it changes" (it always seems longer during Daylight Savings Time), and the all time favorite, "well you know it's different in our business". Well it's not really.
Underlying this is the fact that many reps and organizations do not know what their sale looks like, they have not deconstructing their sale, identified the basic building blocks to identify and truly understand what it should look like and when efficiencies can be had. One facet of this process is covered in "Working Backwards From Your Goals"
While there are a number of ways to affect the length of the sales cycle, by far the easiest to implement with the highest rate of return, no technology required, is to always secure a next step with your prospects. Sounds simple enough, but for some reason, it is hard to get reps and managers to adopt.
Session after session, we implore sales people to always conclude meeting with a clear and mutually agreed on next step that commits both you and the buyer to not only a specific time and action. More often than not however, this either does not happen at all, or only partially.
Reps tell us "my step is a call next Tuesday"
We ask when?
"In the morning"
What time?
"Around 10:00"
Did she agree to that time?
"Yes she said Tuesday morning would be fine"
So she agreed to 10:00?
"Well Tuesday morning"
So if we looked in her calendar, there would be a scheduled call with your name and related actions?
"I guess, ya!"
What does she think the call is about and what does she
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