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Ipsa Scientia potestas est. This phrase came from Sir Francis Bacon in Bacon’s Mediationes Sacrae in 1597.
For a B2B sales executive, these words especially apply to reviewing a prospect’s 10-K. Below I will demystify the effort it takes to review and interpret a prospect’s financial statements. You should know there are many financial statements filed throughout the year. Once a year public companies are required to file a 10-K and may also publish an Annual Report. These two documents are slightly different. The Annual Report is created for investors and customers (easier to read with a bit more “rah rah!”). The 10-K is a bit more rigid and follows SEC guidelines. Once a quarter companies will file a 10-Q. This document is essentially a progress report to let investors know how they are doing against stated goals or prior results. … Read More »
We don’t say that reps are “sales trained” – for all you English majors – we use the present participle form and refer to it as “sales training.” And for a good reason: sales training must be a continuous process if you are going to be successful in today’s B2B sales environment.
Do you really know what your prospects are looking for? Do you know why they are looking in the first place? Were you told by your development group or marketing why your prospects buy? Dismiss it! Buyer’s needs come from, well buyer’s and no one else.
Without the insight into a buyer’s real needs, you are at a major disadvantage. Buyers know what they want before they talk with you. Research from Sirius Decisions indicates that most buyers are 70% through their buying cycle by the time they talk with a vendor. It isn’t so much about features and benefits any longer, it is about value. The buyer wants to know they will get the value in return for what they spend.
Remember that sales training you sprang for? Did it increase your sales? Did you get the long term payback you … Read More »
Like Hollywood actors, sales professionals put themselves and their companies on the line with every word, taking a risk in the hope of a favorable outcome. Just like actors, even the best, most experienced sales professional benefits from some script review, rehearsal, and coaching.
Here are the 11 most common mistakes that I see on the sales stage and what you can do to avoid them:
Unclear Thinking. Want clarity? Imagine that a busy executive says, “You have exactly ten minutes to tell me what you want me to know about your company.” At any stage of the sales process, you should know in advance what your prospect is really asking. The real question is, “What do I need to know about how your company can improve our company? Will your products or services solve a problem, create new opportunities, increase savings, … Read More »
If you are on the phone, a webinar, or in person, and you have a few minutes with the executive, what do you say to keep on track and be professional? Here is an invaluable framework. Adapt it to your situation, and boost your confidence and credibility.
Imagine that you have a satisfied client company for one of your offerings. You feel now is the best time to discuss your next and higher investment offering. The team, your main contact, is ready to view a product demonstration set for the next day. All your demos are delivered in a webinar. At 2 P.M. you get a call from your main contact who says “Great news! Tomorrow our boss, who is the real decision-maker, is going to be in our office. Rather than just showing our team what you have to offer, … Read More »