Salesperson’s Corner - “DRIVING REVENUE IN A CHALLENGING ECONOMY”

THE THINKING OF HIGH COMMISSION SALES PERFORMERS

Courtesy of Frequent TCN Worldwide Guest Speaker:
Dave Hibbard, Dialexis, inc.

It happens every 10 years or so. Salespeople are making amazing headway, earning substantial income, buying goods and services, filled with promise and an unconsciousness that the activity will never end. Egos are at a max, the money flows like a fast river and many top performers believe the reason they are making money is simple - they are just good, and some really are, but the bubble always bursts. It starts with rumors of a slowing economy. The media picks up the potential for doom and gloom and at first the politicians deny everything, soon the press digs for proof that the country may be heading for a recession - then reality hits and it is confirmed that we are not simply heading for a recession, but in fact are already in a recession! Subsequently the economy sinks like a rock and most salespeople are caught off guard - again. At first salespeople are confident since their pipeline from the past year is still pumping, but as the reality of the recession hits, panic begins to set in. Business that looked solid is suddenly sideways, promises are broken, new opportunities become rare and the cash pipeline salespeople rely upon dries up. Highly leveraged salespeople begin to sweat; spouses begin asking questions about security and management pushes for revenue numbers that never come. It's a slow cave in, a little loss here, a little loss there and then suddenly the whole thing is down. Welcome to the world of high commission selling and the close of 2008! Now the scramble is really on, questions are rising faster than a hot air balloon. "How long will this last?", "What happened?", "What should I do?" Negative stories around the office and the industry expand faster than the big bang. Top performers that have weathered the storm before hunker down; they accelerate their creativity and for some reason their instinct tells them, they will be okay. Others with poor performance get caught up in the negative rumor mill. As business dissipates, they start thinking of a move to another company - to a real job - a more salary driven position. Often believing if they switch companies things will change. Ask any high commission salesperson with 15+ years experience and they will tell you economic crisis is the reality of life as a high commission rep. The question is "how do top performers manage to survive - even thrive in a down economy?" It can't be an accident and it doesn't appear to be luck. Something else is going on, and after researching top performers, I discovered that it begins with their thinking rather than a brute force move. So, what can you do if you want to win in this difficult economy, what are the action steps that top salespeople implement allowing them to survive and even thrive? As I mentioned, prior to writing this article, I contacted various top performers who are commission based to ask them what they do and how they think in difficult times. Here are the results of that research:

TOP PERFORMERS RECOMMEND THE FOLLOWING:

1. STOP & BALANCE

2. CHANGE YOUR INTERPRETATION - YOUR STORY

The economy is in the tank... that is a fact, but it's really a neutral event. The story you make up about it and what it means to your success is what you will generate going forward. If you make up a story that because of the economy you can't find business then you won't. If you make up a story that you can find business then you will. Whatever story you create from the economic event you will generate going forward. Negativity brings negativity, worry brings worry, and scarcity brings scarcity. Top performers see the glass as half-full. They don't focus on the negative. They create a story that they will continue to win despite the fact they may not have specific evidence of how - the solution of how to win in a down economy begins with believing and then the answers just come. Negativity doesn't land on them. Every top performer I talked to said they don't see themselves in a free fall. They know they will prevail based upon a belief that they can. They don't always know how they will do it, but believe they will find the way and to the top performer, most of "the way" is a mental game rather than a "do" game.

3. TAKE INVENTORY OF YOUR CLIENTS

The pro's know that they have served clients in the past and they realize that those clients are going through a difficult time as well. Every top performer I talked to said they plan to go back to their existing clients. They planned to visit all those organizations they served in the past with the intent to support them in a challenging economy. Their view is that many of the clients they did business with may want to re-think their strategy. The point is, they return to past clients to serve them not just to get a commission. It's about coming from a consultative perspective - not a - "What's in it for me perspective?" Here are a few of their recommendations:

• Determine which past clients you want to contact.

• Decide what you want to offer or what your approach will be.

• Think from a consultative point of view.

• Request a meeting to discuss how you might be able to support their existing strategy.

• Consult, listen and learn how the economy is affecting your past client - so you can bring value.

• Consider bringing in a partner - an advisor specific to solving a problem your client is facing. That advisor may not be a fellow Sr. salesperson, but rather an outside source that can co-consult and advise on cost savings or generation of revenue.

• Bring empathy to clients. For example, you may say.