A Great Mentor

by Art Waskey | May 18, 2021 | Art of Sales Weekly

Ambitious people are always looking for someone who can make them even better. Behind many successful people in history is a great mentor, a trusted advisor who has helped them along the way. Jennifer Merrill’s book, “Top 25 Mentoring Relationships in History” provides lots of evidence of this. Here are a few examples of great mentoring relationships to encourage you.

• Facebook CEO Mark Zuckerberg – Steve Jobs often met with Zuckerberg to discuss the best business and management practices for Facebook. When Jobs passed away in 2011, Zuckerberg posted on his Facebook page, “Steve, thank you for being a mentor and a friend. Thanks for showing that what you build can change the world. I will miss you.”
• Microsoft cofounder Bill Gates – Gates first met American business magnate Warren Buffett at a dinner organized by Gates’ mother. There he began a discussion with Buffett about business and philanthropy that has lasted for years. Gates has said he has turned to Buffett for advice on various subjects and often refers to him as “one of a kind.”
• Pepsi CEO Indra Nooyi – “If I hadn’t had mentors, I wouldn’t be here today. I’m a product of great mentoring, great coaching… Coaches or mentors are very important.”
• Actor and director Clint Eastwood – Now 90 and still directing, Eastwood was mentored by many including  his grandmother who encouraged the Dirty Harry star to always work hard and pursue his dreams. “I’ve had many mentors in my life… my grandmother was always encouraging. She always thought I was going to be something when nobody else, including myself, thought I was going to amount to anything.”

A great mentor is suited to your personality, respectful of others, and a recognized expert in their field. Find someone who can show you that what you build can change the world.

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Guided by Success

by Art Waskey | May 11, 2021 | Art of Sales Weekly

A mentor can be a valuable guide to a successful career. The relationship is a personal one. To be effective, you need to choose a mentor carefully. Here are the qualities I suggest you look for.  

Choose a Mentor

• Chemistry – The first consideration when looking for a mentor is personality fit. Do you have shared interests with this person? Do you communicate easily?

• Competency – Choose mentors who are the most qualified people you can find and invite them to pour their knowledge into you. Don’t worry about finding everything you need in one person. Currently, I have mentors in four areas of my life — professional, educational, spiritual, and physical.
  
  
• Humility – Choose a coach who is humble and willing to share his/her failures. Vulnerabilities provide valuable lessons and illustrate how new paths can be forged. The right mentor will want you to learn from his/her failures.

• Discernment – Look for specific characteristics when choosing a mentor. In Multipliers, Liz Wiseman offers this insight on discerning leaders: “The right counselor is considered to possess wisdom and be of good judgment; especially so concerning subject matter often overlooked by others.”

• Trust – People don’t share with someone they can’t trust. A good advisor understands that confidentiality is paramount in his role as a teacher and coach. Make sure this is clear.

• Mutual benefit – Helping others in a mentor relationship brings unexpected mutual benefits like joy and motivation. The late Zig Ziglar said: “You can get anything out of life if you just help enough others get what they want out of life.”

• Availability – Be flexible with your time. Work within your mentor’s schedule, not yours. Know the direction you hope to be taking, including your goals for the next twelve months. Have your questions ready.

The respected expert for you

The most successful people are always looking for someone who can make them even better. Choose a mentor who is enthusiastic, a good personality fit, considerate of others, and a respected expert in their field.

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Differentiate Yourself

by Art Waskey | May 5, 2021 | Art of Sales Weekly

The sales rep felt dejected. He had demonstrated to a client the cost savings offered by changing to a new process. When he followed up on his proposal, he was told that the order had been placed online due to better pricing. The rep had failed to differentiate his proposal from the online offering.

Create a partnership

What would have made a difference in the above scenario? Wise customers realize and appreciate the value of partnerships with their key suppliers. Sales disruptors like Amazon, Grainger, Fastenal, etc., or the possibility of manufacturers going to direct sales, exist. I believe that the industrial gas and welding customer is still looking for local, strategic distributor partnerships, however.  

Steps to take

Here are some steps you can take to create partnerships and differentiate yourself from the disrupters:

1. Verify the decision-maker – Be sure you are dealing with the person who can approve the deal. Don’t make the assumption that your contact, no matter their influence on product or service selection, is the decision-maker. Spend time building relationships with the front office executive team.
2. Ensure commitment – Before giving a solution to a problem or offering a cost savings idea, get a commitment to buy. Ask: “If I offer you a [specify the percentage] cost saving enhancement to your production line, can you guarantee I will get the order?” A written pre-commitment is best.
3. Differentiate your services – Differentiate yourself from the online disruptor. Value-added services, like installation, engineering, and training, differentiate the distributor from the online seller or big box store. Separate the price of these added functions from the product or service you are selling. This prevents customers from buying online and expecting you to install or train them on the product.
4. Offer other value added services – In addition to the above, consider offering these other value-added services: VMI (Vendor Managed Inventory), Kanban, consigned stocking, qualified service technicians, and product enhancements.
5. Add fees – Value-added services add to your costs, but I find customers generally are willing to pay a premium for them. Some distributors have converted value-added services into revenue streams. Consider adding fees for services like transportation, acetylene cylinder inspection, cylinder maintenance, equipment installation, training, and engineering.

Make each sale count

Create partnerships and be sure your customer is aware of the added value associated with your products and services. Make each sale count by differentiating your proposition from that of the online or big box seller. 

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Making it a Habit

by Art Waskey | Apr 27, 2021 | Art of Sales Weekly

Finding the sweet spot

During my long career in sales and executive leadership, many have approached me with concerns over their career path. They were often uncertain about their current choice and searching for a job with greater meaning. Finding your sweet spot — that place of contentment — is not easy. It requires making it a habit to do certain things. 

Ask questions

The journey to find your comfort zone starts by asking some critical questions:

• What do you do better than people around you?
• What do you do without effort?
• What do you do without being asked?
• What do you do readily without getting paid?
• What do you do that highly energizes you?

When you have answered these questions you are ready to develop new habits.

Three dimensions

In his book The 8^th Habit, Stephen Covey explains that habits lie at the intersection of knowledge, attitude, and skill. As we develop these three dimensions, we increasingly become equal to new challenges and gain possibilities.

Knowledge –We must be life-long learners. Develop the habit of reading every day and choose topics that motivate you. For me it’s leadership, sales, and theology.

Attitude –When I meet someone who isn’t excited about his/her career, I ask them about their true passions. Recognize what you want to do with your life and make realignments accordingly by developing the right habits.

Skills – Work on honing the habits that foster your unique talents and tap into what motivates you. This will make a difference. Regardless of what you are doing now, practice the habit of sharpening the skill-set that gives you the greatest sense of accomplishment and reward.

Leave a legacy

Deep within each of us is an inner longing to live a life of greatness and contribution — to leave a legacy. Make a habit of striving for the knowledge to recognize your path, the courage to take it, and the talents that enable you to be all that you can be.

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Keeping Sales Consistency

by Art Waskey | Apr 1, 2021 | Art of Sales Weekly

The goal

Satisfying customers is the goal right? Do so by keeping sales consistency!

You can classify salespeople into two general groups: hunters and gatherers. The hunter is a networker and skilled at finding and closing new business, but easily bored with customer detail. The gatherer is like a golden retriever, friendly and loyal and driven by the desire to keep the customer happy. A successful business needs both types of salespeople. Hunters do their best work on the outside, with face-to-face calling. Match them with your gatherers, who excel at inside sales and providing customer service. Both hunters and gathers should have the same goal and that is to ensure the consistency of a sale.

Make it consistent

Here are three issues to be aware of when working to ensure the consistency of each sales transaction.

1. Buyer’s remorse – In any new relationship there can be doubt about whether the right decision has been made. This is particularly true with a large sale or one that involves an urgent need. We have all woken up wondering if we made the right decision or if the urgent product will be delivered as expected. To avoid buyer’s remorse, review with your customer the logical reasons for the purchase. Point out the features and benefits of the product or service you have just agreed to.
2. Continued connection – An order does not complete a sale. Once the paper work is signed, introduce your customer to your inside service support team for any help he may need.
3. Consistency of service – Follow-through is important.  A rapid response thank-you email or text demonstrates your commitment. Have your sales and operation managers make a call or visit as well. Invite your customer to tour your company’s facilities so he can put names to faces.  These actions provide the customer with consistency of service.

Grow your business and sales consistency

The salesperson who provides and coordinates consistent service after an order is taken creates a satisfied customer base. This yields client retention and guarantees more business.

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Meeting Customer Needs

by Art Waskey | Mar 16, 2021 | Art of Sales Weekly

Selling is about helping others and meeting customer needs. A good sales person needs to be many things, including focused, organized, and gregarious. Most importantly, however, you must be mindful of meeting your customers’ needs. As a sales professional, you are in a position to help people buy solutions.

Your customer’s best interest

Here are four practical ways to sell with your customer’s best interest in mind.

1. Be professional – There’s a big difference between someone who sells and a sales professional.  The former pushes product. The latter focuses on identifying what is behind the customer’s need and matches that to a solution. The need can be driven by pain, or gain, or both. Pain is related to solving an immediate problem. Gain is centered on buying for value. While the two needs are sometimes interrelated, they are solved quite differently.
2. Act on a commitment – Deliver on the need. The best salespeople are effective, confident, and thoroughly familiar with their client’s business. They know how, when, where, and why to deliver the product and service purchased.
3. Provide continued support – The customer is looking for a salesperson who is both a counselor and a consultant. The best in class salesperson is a creative, strategic thinker who can anticipate the customer’s ongoing concerns, goals, and objectives.
4. Develop long-term loyalty –The formation of lasting customer relationships based on honesty, integrity, and trust reap the greatest rewards. James Duffy, author of More Than Account, says that 8% of sales people capture 80% of the sales. That 8% have strong customer relationships.

Care and commitment to meet customer needs

Today, a purchase can be made with the click of an online button, no sales person involved. Your best defense to this is building and sustaining good in-person customer relationships (see building-a-business-relationship). Buyers want to know the seller cares, especially in larger deals, and online platforms cannot provide that. Help meeting customer needs ensures that customer makes the best decision and receives the greatest return on their investment. This is the sales professional’s greatest tool.

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Guarding the Buyer’s Best Interest

by Art Waskey | Mar 10, 2021 | Art of Sales Weekly

My sales career has been in an industry that provides essential products. Sometimes those products can be in short supply, which makes customers vulnerable to pricing pressure. Salespeople may see product scarcity as an opportunity to maximize their margins at the customer’s expense. If you lose sight of your buyer’s best interest, however, it is likely to cost you in the long-term. I suggest that you carefully evaluate your position before taking advantage of a short supply situation.

Three common traps

Consider these three common selling traps and how they work against guarding your buyer’s best interest.

1. Inflating price — When a customer’s urgent need makes it impossible for them to negotiate, you can sell at an inflated price. However, once the crisis passes and your competitor’s pricing is significantly lower, your buyer will likely change suppliers. The lowest price is always the buyer’s goal.
2. Overstating capabilities — Leading a customer to believe that you can solve problems beyond your competency is never a good idea. Your buyer knows what he needs to get the job done.   Over promising a solution in order to make a sale never ends well. When you hear, “…but you promised,” you have overstepped your reach and will likely not see any more business.
3. Overselling the product — Are you pitching a product or service that is too sophisticated for the customer’s need?  If your client’s original equipment does a better job than the new product you deliver, there will be complaints. Selling technical capabilities that are beyond a customer’s particular need leads to buyer’s revenge sooner or later.

Buyer’s Best Interest

If you are interested in developing long-term sales relationships, always keep the buyer’s best interest in mind.  Most short-term deals made under the above circumstances lead to lack of buyer trust and future sales. I have seen these traps create great anxiety for sales professionals, and even job loss. Paraphrasing William Shakespeare: “Hell hath no fury like a buyer’s scorn.”

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Assurances Needed for Business Commitment

by Art Waskey | Mar 2, 2021 | Art of Sales Weekly

You are feeling comfortable with your prospect. During your recent 20 minute conversation, you’ve asked good questions and now know 5 important things about him (see this post about building a business relationship). Your potential client even shares some of the problems he is having with his current supplier. Still, you sense the client hesitating when it comes to making a business commitment. In World-Class-Selling, Roy Chitwood suggests that before a potential customer makes a business commitment, he needs five key assurances.

Before a Buyer Commits

Chitwood describes the areas that are central to gaining a customer’s trust in order to close a deal.

1. You – Once you’ve had the chance to get to know your prospect, it’s time to reciprocate. He needs to evaluate your integrity and measure your interest in serving his needs. He’ll assess how likely you are to be a valuable consultant and advisor, or even a close friend. The client also needs to learn how well you have studied his business. Are you capable of determining how your product or service fits his needs?
2. The company – A customer needs to have confidence in your company before making a commitment. Make sure your mission statement and good reputation are well known.
3. The product or service – The salesperson must demonstrate knowledge of his company’s product or service and how it meets the customer’s need. Can you show how you will solve the customer’s problem?
4. The cost – Customers want more than a good price. They want value and to know how soon the product will pay for itself. Remember, people want to buy: they don’t want to be sold.
5. Time to buy – If the prospect is satisfied with the above four areas, he then has to decide when is the best time to buy. No one wants to spend money before it is necessary. To get a business commitment, you need to provide assurance on why now is the right time to buy.

Keys to commitment

Think about it. Before you make a decision to buy don’t you look for these five assurances? The keys to a business commitment are universal. Use them to gain your prospect’s trust and signature on that proposal!

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Developing Strategic Partnerships

by Art Waskey | Feb 16, 2021 | Art of Sales Weekly

I recently interviewed a man who had been the VP of Sales for a national manufacturer. The company he represented sold through a network of businesses and he was well-versed in developing strategic partnerships with distributors. He saw his buyers falling into three distinct categories.

Three types of customers

1. Transactional – This type of customer is only concerned with price. Beware of the buyer focused solely on this — he will quickly switch to the supplier that offers a better deal.
2. Engaged — Gaining the trust of a client builds brand loyalty. A customer who is engaged is one with whom you have developed a two-way relationship. You respond to their needs in a timely and honest manner. Be vigilant about guarding that hard won position from other brands trying to tempt your client to switch suppliers with a better value proposition.
3. Embedded – An embedded relationship is one typified by mutual respect, long-term commitment, and a strategic partnership. This is a step above the engaged customer and the most ideal position from a sales perspective. Embedded customers are loyal.

Are you Developing Strategic Partnerships

The manufacturer’s long-term distributor relationships were all developed as strategic partnerships in which both parties shared business plans and problems. As VP of an independent distributor for 35 years, I agree. I met with my vendor managers regularly to create game plans that helped us sell their products. It is important to have close contact with your clients. If one of your vendors loses its footing and its brand loyalty deteriorates, it opens a door for your competition to walk in.

Your Value Proposition

It is important to consider these three customer relationships and how they play with your customer base. Are your current customer liaisons transitional, engaged, or embedded? Can they withstand disruption?  Work on your value proposition to ensure you develop strategic and lasting partnerships.

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