Sales and Sales Management Blog

For the past several years I’ve heard a great, loud chorus composed of government personnel, activists, and everyday individuals singing about how the American Dream is no longer attainable, how life is stacked against those who aren’t born to luxury and wealth, how life for the vast majority is nothing but drudgery and endless victimhood and hopelessness.

That may make for good theater and give political advantage for some, but it isn’t the reality of a great many men and women who have rejected the victim role and have worked hard to live their dream.  These men and women are all around us if we just look.

There is little I can do to honor the hard work and sacrifice these people have invested in earning the freedom to live their dreams.  However, on occasion I want to highlight some of these folks by telling their story.  The story of where they came from and what it took to reach their dream.  These are not stories of wealth and fame and a life of ease.  Rather these are stories of long hours, very hard and often dirty work and a willingness to do what needed to be done to reach goals that were seemingly unreachable.

These are stories of the true American heroes.  These are men and women carrying forward the American spirit of overcoming great obstacles and finding ways to succeed instead of excuses for failure.

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I met Jaime recently.  He is in his early fifties.  He grew up in small town Texas where his parents struggled to make a living and provide for their kids.  His was a good traditional Hispanic Catholic family, attending mass every Sunday followed by a large family meal.  Those Sunday’s are his most vivid memory of his childhood.

Jaime dropped out of high school in the 10^th grade.  He wanted the things his parents couldn’t give him.  He wanted them badly enough that he was willing to work long hours to get them.

Like many dropouts, it was only years later that he realized how big a mistake dropping out of school was. 

Jaime struggled as a young man trying to support a small but growing family on what a high school dropout could make.  He had no education.  He didn’t have a trade.  He had no skills.

He was getting nowhere fast.

Finally in his late twenties he decided to get his GED.  He worked days and took classes at night. 

He and his wife had a part-time job on the side.  Their earnings from the part-time job were set aside as their “dream” fund.  They didn’t know what their dream was—but they knew they were going to have a dream and it was going to be their opportunity to radically change their life.

In due time Jaime received his GED and with it a new job as a pastry chef for a large cafeteria style restaurant.  It was the best job he had to date.  His hourly wage wasn’t that great but the job had benefits and a 401(k)—and it wasn’t backbreaking physical labor.

After a few years he decided to change jobs, taking a position as a pastry chef for a country club.  His income increased and he felt he had a little more prestige working for the country club rather than a cafeteria.

All the while he and his wife were diligently working their other part-time job, religiously saving for their dream, although they still didn’t know what that dream would be.

Finally, in his early forties, Jaime decided he needed something that would allow him to increase his income.  He wanted to find something that would ultimately give his family more security while providing a better living than his pastry chef position could ever provide.

Jaime decided to take a step back in order to take many steps forward.  He went to work for a brake and alignment service center with the intent of learning the business and eventually becoming a certified technician.

It was a tough decision.  Not only did he take a decrease in pay, there were no benefits.  No longer would he have a 401(k) with any company matching funds.  He was going to have to pay for his own insurance.  He was taking a big risk with only the promise of a brighter future.

His new occupation demanded he work all day and come home and study for his certification at night.  The shop opened at 7AM and closed at 6PM, six days a week—and then off to the house to get cleaned up and study–long hours and all for only the expectation of a better life sometime in the future.

And, yes, he and his wife were still working that part-time job, saving for their unknown future dream.

Jaime got his certification.  He not only became a certified brake and alignment technician, he became one of the best anywhere in the oil field.  He eventually brought one of his sons and his son-in-law into the business while building a large and loyal clientele.

As the years at the brake and alignment shop passed, the dream finally began to formulate in his mind—he was going to open his own brake and alignment shop. 

That was what Jaime and his wife had been working toward for twenty years.

Jaime is opening his brake and alignment shop at the perfect time.  Business in Texas is booming.  Many auto repair shops have two to three week waiting lists for even simple repairs.  Jaime has an extensive list of business and individual clients who will provide him with immediate and sustained business. 

He has taken the time to make sure he is doing the right things to establish a successful and ethical business.  His first two hires were his son and son-in-law. 

Jaime is the epitome of the American dream, rising from modest circumstances to being the creator of his own destiny.  But not only has he created his own destiny, he has helped shape his entire family’s destiny as the shop, owned by his kids, will continue to service customers long after he has retired.

The American Dream is far from dead—just ask Jaime Vizcaino.

Oh, by the way, that part-time job he and his wife have had for the past twenty years saving for their dream?—they get up every morning at 3:30 to deliver papers and then go back to bed for an hour at 5AM (yep, they still do it).

Do you know someone with a great American Dream story that should be shared?  If so, just let me know so we can feature it here:  pmccord@mccordandassociates.com.

From a business generation perspective what is your most valuable asset?  The telephone?  Your computer?  Your advertising budget?  Maybe it’s your dedication to attending every networking opportunity in your area?

The answer is none of the above.

Your single most important business building asset is right at your fingertips—your existing client base.

There is simply nothing more valuable and powerful to growing your business than the customers you already have.

Taking the time and effort to keep in contact with past clients will grow your business through new direct sales to the client and generating referrals to qualified prospects.

We salespeople often think that keeping in touch with past clients takes too much time, effort, and money.  Considering the return on investment, this really is not true—at least for most of us.  The key is finding a way to communicate that is time efficient, relatively inexpensive, and effective.

Studies indicate that in order to keep your name at the top of your customer’s mind, you need to “touch” your customer a minimum of 14 times per year—more if at all possible.

What is a “touch?”  A touch is any communication from you to your client—email, telephone call, snail mail, postcard, holiday card, in-person meeting, or any other method of getting in front of your customer.  If you are communicating with the client, you are touching them.

 What is the most effective way to touch your past clients?  Studies have shown that there is not a “best” way but rather, the most effective client communication programs enlist a number of communication formats.

Sending 14 emails a year is better than nothing, but it is not the best way; neither would be sending 14 snail mail pieces–or making 14 phone calls.  Neither would be sending 14 postcards during the course of the year.  However, constructing a campaign using a combination of these methods could be a very effective program.  For instance, setting a marketing calendar to send 4 postcards per year, 6 emails,  2 snail mail letters, one phone call, and one holiday card during the course of the year allows you to touch your client approximately once every 3 ½ weeks during the year. 

But, what do you send?  What do you say 14 times during the course of the year?  The content of your communication is just as important as the fact that you sent something.  When you communicate with a past client, the fact that you have something in front of a previous customer is not necessarily a good thing in and of itself. 

Many traditional marketers will disagree.  Much traditional thinking says that any time you get your name in front a client you are ‘communicating.’  However, is a 3-second trip to the trash for your expensive postcard or letter the best the use of your money?  And do you really want your client to think of you as just another piece of trash?

Whether or not your communication campaign is effective will depend on what you are communicating.  If you send junk just to send something, your customer will quickly learn to ignore you and your communications and everything you send will take that 3-secnd trip to the trash.  On the other hand, if your communications offer something of interest and value, you will train your client to pay attention to you.

The most basic question to ask before sending anything is, “Does this add value for me (that is, is it ‘me’ oriented, or does it add value for my client (client oriented)?”  If the answer isn’t that it primarily adds value for your client, you have a communication worthy of going straight to the trash.

Which would you rather have:  a client that ignores you or one that pays attention to you?

I assume you would rather have a client that pays attention to you. 

To train your clients to pay attention, and, therefore, to keep you at the top of their mind, you must figure out how to send them communications that give them value.  Can you offer a special for them or someone they refer to you?  Can you provide them an annual or semi-annual update on their purchase?  Can you send or email them articles of interest that relate to their purchase, their business, or an interest of theirs?  What you send does not have to be large or costly—it just needs to be of value to the client. 

A program such as this requires thought and considerable customization of content, but the payoff can be enormous.  Think about what you are sending and what it will—or will not—communicate about you and your business.  If you want your clients to think of you and not ignore you, then take the time and the effort to make sure you are sending value.  If you are not sure it has value, it probably does not.  Marketing to your client database should be at the top of your “to do” list and your campaign should be constructed with the thought and care as if you were communicating with the most important people in the world, because for you, they are.

Please connect with me:

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7 Sales Prospecting Ideas That Work
by Mark Hunter

The biggest item on the “to do” list of most salespeople is finding good sales leads.

Here’s a list of 7 sales prospecting ideas you can use right now:

1. Give away prospects to others.
You heard me — give away prospects. What I mean by this is help other salespeople develop leads. When you meet someone who might benefit from what another person sells, match them up.

The more leads you help others with, the better you’ll feel about yourself and the more leads you too will get from others.

2. Have a “customer satisfaction” phone blitz.
Contact each customer you have sold to and ask them how they like your service. Let them share with you what they like, and then immediately after they get done telling you what they like, ask them for the name of people who might benefit from what you sell.

If the customer shares with you something that is less than flattering, then it gives you the opportunity to correct the situation with them. Remember, regardless of whether the customer likes your service, they are telling others.

3. Build your on-line awareness level using the social media platforms that fit your business.
If you’re selling in a B to B environment, that means Linkedin; if you’re in a B to C environment, that means Facebook. Don’t waste your time on any sites that don’t match well with where your customers are.

Also, don’t think this alone is going to drive your business. Sorry, social media is just one tool. The best way to approach it is by not expecting anything from it and being pleased when something does come.

4. Actively work your “warm-call” or “warm-lead” list.
We all have these lists. These are lists of people we know but have lost contact with or others who we’ve met but have never placed any value in for one reason or another. Don’t forget about these. The best way is to dedicate a certain amount of time each day to reach out to these people on the phone.

By working this list consistently, you will have a steady stream of warm leads that are turning into warmer and ultimately hot leads.

5. Never give up on leads you believe have gone cold.
Just when you think a lead can’t get any colder, it can suddenly become quite hot. Have in place some sort of a low-touch contact or marketing program that allows you to remain in contact with these cold-leads from time to time.

6. Believe in yourself.
Nothing will defeat you faster than yourself. If you aren’t positive about both yourself and what you sell, then how do you expect anyone you meet to even think about being a prospect?

7. Don’t waste time with suspects.
If a prospect is not willing to share with you some sort of proprietary or personal information about themselves or their company, then they’re not serious about working with you. Move these people to your cold-contact list and allow your low-touch contact system to take over.

Mark Hunter, The Sales Hunter, is a leading sales expert and speaker with almost 20 years sales experience selling for Fortune 100 companies.  He specializes in showing companies how to maximize price and stop discounting.  Find more of Mark’s work on his blog.

Success is a Decision You Make
by Robert Terson

When salespeople call me for help, one of the first things I tell them is the title of this post—success is a decision you make. When you decide to be successful, are bound and determined that you’re not going to allow anything or anyone to stand in your way, success will follow. No, if your goal is a worthy one, it normally doesn’t happen right away, nor does it usually come easy, but if your decision is in the form of an ironclad Commitment, the odds are highly in your favor that it’ll eventually happen—you’ll achieve the success you desire.

Sound too simple to you? It does to most people. They think success goes only to those special, gifted individuals whom God has blessed with extraordinary talents and powers, to say nothing of the money to back up those talents and powers. They see themselves as ordinary and “ordinary” just doesn’t cut it, does it? Not in this tough world we live in nowadays, especially during these ultra challenging economic times. So they stay on the sidelines, unable to make the kind of decision I’m talking about.

One of my favorite stories from Napoleon Hill’s Think and Grow Rich (Do you own a copy? If not, you need to go out today and get one!) is the tale of when Henry Ford decided to produce a V-8 motor with all eight cylinders cast in a single block, and ordered his engineers to produce a design for the engine. The engineers, all of them, told Ford it couldn’t be done, that it was impossible to cast an eight-cylinder engine block in one piece.

According to Napoleon Hill, Ford said, “Produce it anyway.”

“But,” they replied, “it’s impossible!”

“Go ahead,” Ford commanded, “and stay on the job until you succeed, no matter how much time is required.”

If you wanted to work for Henry Ford you did as you were told, so they worked on the problem for over a year, but couldn’t find an answer. Hill writes, “The engineers tried every conceivable plan to carry out the orders, but the thing seemed out of the question; ‘impossible!’”

“Go right ahead,” said Ford. “I want it, and I’ll have it.”

Does that sound like a decision made out of titanium? It does to me. Ford’s decision was vindicated when they finally—“miraculously”—solved the seemingly “impossible” task and gave him what he decided he’d have.

Have you ever used the expression “He wouldn’t take ‘no’ for an answer”? Did you use that expression with a certain degree of admiration? I’m guessing you did. Why is it you admire people who won’t take “no” for an answer, but do not adopt that attitude yourself? Oh, yeah, I forgot: they’re extraordinary, but you’re only ordinary. Right?

If you decide to be successful, if you refuse to take “no” for an answer, you’ll be successful. Hell, you’ll even wind up admiring yourself.

That’s it, period, end of story.

Robert Terson writes the Selling Fearlessly blog and is the author of “Selling Fearlessly: A Master Salesman’s Secrets For the One-Call-Close Salesperson.”  He has retired from a 40 year career in sales, including owning his own company, to write, speak, and help others succeed; to give back for a lifetime of blessings.

Although this article is written about and for those in the UK, I think it might be a good warning for all about the potential we all face in the current world economy where our security might be as fleeting as a change in the law.

Debtors Face Having Pensions Raided
by Chrissy Hoey

As the UK continues to struggle with its finances and the economy sinks into a triple dip recession, the number of individuals facing Bankruptcy is higher than ever.

However, those who have managed to build up a nest egg for their retirement have been able to protect their future from the hands of their creditors, even if they are stripped of all their other assets….until now.

A new ruling means that individuals who are declared bankrupt could be forced to hand over their pension fund in order to settle their debts.

The High Court case of Raithatha V Williamson has sent experts into a spin, because it challenges the way pension funds have traditionally been treated by Bankruptcy law. The Court decided that the Trustee in Bankruptcy could insist on taking money from the individual’s pension nest egg.

But the ruling is not a blanket agreement and only those aged over 55 could be at risk. Under some pension schemes, individuals are eligible to draw their pension once they reach age 55 and it is these funds which Bankruptcy practitioners will try and nab.

The High Court ruling could still yet be appealed and is yet to have far-reaching consequences, but if upheld, it could ultimately, lead to a change in the law.

Retirement funds had been protected by the Welfare Reform and Pensions Act, meaning that even if an individual was made bankrupt, the money to see them through their later years could not be raided. However, the High Court has deemed that once an individual reaches age 55, they could potentially receive an income from the pension, which in turn, makes it recoverable under Bankruptcy rules. The principle applies regardless of whether the person is actually in receipt of a pension; it is the potential eligibility which is the critical factor.

If the ruling survives a legal challenge, any change in the law is fraught with difficulties…

To start with, groups have already claimed that the ruling is discriminatory, leaving those in their later years facing tougher action than younger individuals made bankrupt.

The lawyer, Damon Watt, for the bankrupt individual in this case, Williamson, said that the impact on older individuals would be ‘disproportionately adverse,’ whilst younger defendants would not be ‘deprived’ of what he described as ‘an essential element’ from their pension.

But the discrepancy between how bankrupts of different ages are treated isn’t the only potential problem that the new ruling could cause.

Private pension schemes are written in different ways and, ultimately, the trustees of the scheme have the say about what happens. In some cases, a request for early retirement can be declined, or only granted at the Trustees’ discretion, leaving them facing the difficult decision about whether to hand over the money for creditors to gobble up.

If the Trustees opt to grant the request from the creditors to pay out the pension early, solely for the purpose of paying off more of the debts, they could face complaints from disgruntled scheme members, claiming they have not had their best interests at heart.

However, many of these types of plans are linked to an employer and have far more rules than other types of private pension. Experts have suggested that whilst this a ‘grey area’ in view of the ruling, in reality, courts could not force discretion to be exercised in a way to suit creditors. But in order to circumvent schemes simply slapping a discretionary label on everything, new laws may decree than in the event of Bankruptcy, discretion no longer applies.

The presiding judge, Mr Justice Livesey QC, denied that the decision would lead to an unfair prejudice and, in fact, argued that the current rules are biased.

In his ruling, Mr Justice Livesey QC questioned why those who were entitled to receive their pension but had not yet chosen to draw it, should be treated any differently from those who were already in receipt of the money. He said that individuals who were declared as bankrupt could deliberately delay taking their pension until after they were discharged, thereby robbing creditors of money, whilst those who had opted to start receiving an income, were forced to hand it over.

The arguments are set to continue for some time but the case is being monitored avidly by those it affects. And regardless of which way the final judgement falls, the implications are likely to be wide-ranging for both those made bankrupt and the debt industry.

Chrissy Hoey is with Baines and Ernst, a credit management company in the UK.