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What An MBA Didn’t Teach You About Sales

The sales profession is challenging. You need to work hard at it to succeed. You need to learn from the best. You need to improve your skills continuously. If you think you can sell since you are a hit at parties and have a lot of friends, you may soon find that you are a failure as a salesperson. Blunt truth:

because the sales profession is so hard, you have to focus on doing everything in sales very well, or you will be considered a failure.

I call this blog, Skinned Knees because I try to relate all of the learning that I have done over the past 4+ decades (while skinning my knees in the learning process).

I hope that you learn from my mistakes so that your business will grow!

Building a Successful Sales Team: A Guide for CEOs and Managers

You can overcome obstacles and significantly improve your sales performance with the right mindset, strategies, and tools. For salespeople, sales managers, and CEOs of small companies, the journey to sales excellence is paved with lessons and insights that can be invaluable in improving management capabilities and driving revenue growth.

The sales process is a critical aspect of any business. It’s the engine that drives revenue and growth and the platform on which customer relationships are built. However, businesses often encounter a unique problem in their sales process. The problem isn’t necessarily about the product or service being sold, the market, or the competition. Rather, it’s about the people involved in the process—the salespeople.

Being a salesperson is a challenging profession. It requires a unique set of skills, a deep understanding of the product or service being sold, and a certain level of resilience to face the inevitable rejections that come with the job. But more than that, it requires a mindset that embraces growth, learning, and continuous improvement.

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Transform Your Sales Strategy with the Three-Legged Stool Approach: Resonate, Differentiate, Substantiate

Business-to-business (B2B) sales is more than selling a product or service. It involves a strategic approach that includes understanding the customer’s needs, differentiating your offering, and building trust. This strategic approach is often called the three-legged stool of sales: Resonate, Differentiate, and Substantiate. Resonating with customers is the first step (leg) in the sales process. It involves answering the questions “Why should the customer act?” and “Why should they act now?” To resonate with customers,… Transform Your Sales Strategy with the Three-Legged Stool Approach: Resonate, Differentiate, Substantiate

Designing Sales Compensation Plans That Drive Performance

The success of any sales-driven organization in the business-to-business (B2B) space hinges on the sales team’s compensation plan. Over my four decades in B2B sales, I’ve observed that nothing influences the performance of sales personnel more directly than the design and implementation of their compensation plans. Compensation is not merely about rewarding sales achievements but crafting a strategy aligning individual salespeople’s goals with the company’s broader objectives.

A well-structured compensation plan acts as both a motivator and a guide. It compels sales teams not only to meet but exceed their targets, fostering an environment where continuous improvement is not just encouraged but becomes a natural byproduct of the system. For small business CEOs, understanding this dynamic is critical for sustaining and driving growth. Sales compensation is more than just a cost; it’s an investment in the company’s future.

In any sales environment, whether the market is brimming with potential or tightly contested, the compensation plan must be a living document that evolves in response to market conditions, company goals, and team performance. With this adaptability, companies can avoid stagnation or regression in their market positions. As businesses strive to scale and adapt, constructing a compensation plan that genuinely drives the right behaviors becomes all the more pertinent.

To delve deeper into this vital subject, CEOs should consider the immediate impacts of their compensation strategies and their long-term implications on sales culture and employee retention. For those ready to explore the intricacies of effective sales compensation and ensure their strategies are well-suited to their specific business contexts, I am here to lend my expertise. With extensive experience tailoring compensation plans to enhance sales productivity and company profitability, I invite you to reach out for further guidance on crafting a plan that meets and exceeds your strategic goals. You can set a time to talk to me using my link above Book Appointment With Sean.

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Driving Sales Success through Collaborative Learning and Knowledge Sharing

Aiming to increase revenue and boost productivity in sales processes, sales managers and company CEOs are constantly searching for effective strategies to streamline their operations and ensure optimal results. One such strategy involves conducting sales meetings for educational purposes. These meetings focus on enhancing knowledge and skills, and this is where the real game begins. 

Imagine a sales meeting where, instead of a mundane round-up of weekly activities, there’s an engaging discussion about a new book that can potentially revolutionize the sales process. Picture a team of four or five salespeople, including you, each reading two chapters of a book overnight. The next day, everyone shares the high-level takeaways from their assigned chapters. This practice allows the team to consume an entire book’s content in a day and empowers each member to become an authority on the subject matter because they’re teaching others. The exercise is educational, promotes team collaboration, and enhances communication skills. 

This approach can be extended beyond books to other areas, such as market research. For instance, if a company is looking to enter a new vertical, different aspects of the industry, like market influencers, challenges, and political, economic, and legal factors, can be assigned to team members for research. Each member returns their findings to the team, comprehensively understanding the new market. This practice is not merely busy work; it’s sales-driving work that benefits the entire team and accelerates learning about the new market.

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Using Value Propositions to Stand Out in a Competitive Market

Understanding and effectively communicating your value proposition is crucial for success in B2B sales. It can be the difference between winning and losing a deal. Whether you’re a salesperson, a sales manager, or the CEO of a small company, this topic is extremely relevant.

A value proposition is not merely a catchy slogan or a well-crafted elevator pitch. It is a broader collection of reasons why a potential buyer should choose your product or service. A value proposition identifies the customer’s needs and goals and demonstrates how your product or service can address these.

One key aspect of a value proposition is its ability to resonate with the customer. This involves deeply understanding the customer’s needs and tailoring your proposition to their specific situation. This allows the sales team to find the match between the customer’s needs and your offer. To resonate effectively, you need to answer two key questions for the customer: Why act? And why now?

The ‘why act’ question establishes the need for your product or service. If the customer doesn’t see a need, they won’t be interested, no matter how great your offering is. The ‘why now’ question creates a sense of urgency. Without this, a customer may acknowledge the need for your product or service but see no reason to act immediately.

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Maximizing Productivity in Sales Meetings: Key Principles and Best Practices

Sales meetings are the lifeblood of any sales-driven organization, providing an essential forum for communication, collaboration, and strategy development. Yet, despite their significance, many salespeople, managers, and CEOs struggle to conduct productive and efficient meetings. This issue often stems from a lack of understanding of key meeting principles and best practices, particularly in the areas of time management, content planning, and participant engagement.

The adage “time is money” holds especially true in sales. Every minute counts, and wasted time equates to lost opportunities. This is why punctuality is of the utmost importance. A meeting that starts late or runs over time is disrespectful to participants and detrimental to the team’s overall productivity. 

To avoid this pitfall, sales leaders should ensure they always arrive early to meetings and start them on time, without exception. This requires careful planning and preparation, as well as a commitment to respecting the time and schedules of others. The same principle applies to the end of the meeting. Sales leaders should always strive to conclude meetings on time, which requires careful meeting agenda management and a willingness to keep discussions focused and on track.

Content planning is another crucial aspect of effective meeting management. Just as a ship needs a compass to navigate the seas, a meeting needs an agenda to guide its proceedings. A well-crafted agenda provides a clear structure for the meeting and helps to keep discussions focused and productive. It also sets clear expectations for participants and helps to ensure that all relevant topics are covered.

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From Education to Improvement: The Essential Elements of Effective Sales Meetings

The importance of effective internal sales meetings with your sales team cannot be overstated. These meetings are not just about discussing individual deals or pipelines but serve a much larger purpose. They are opportunities for education, alignment, and improvement. They are a platform where the entire sales ecosystem comes together to discuss what’s happening in the industry, target market, or the company and how to move in the same direction.

A key reason for having larger quarterly meetings is education. As a sales leader or a CEO, the goal should be to make the sales team more effective and knowledgeable about ongoing developments. This can be achieved by inviting guest speakers, working on sales messaging, or understanding what’s happening in a particular vertical. However, these meetings should not be held just because the quarter came up. They should have a purpose and should add value to the team. If the same information can be shared through a well-written email or a quick update on Zoom, then there is no need for a meeting.

One effective practice for these meetings is role plays. This is a great way to practice and improve skills. However, it’s important to conduct these role plays correctly. There should be three roles: a customer, a seller, and an observer. The customer should be competent, the seller should sell something, and the observer should observe. After each role-play, feedback should be provided on what was done well and what could be improved.

However, while conducting these meetings, it is important to avoid a few pitfalls. One such pitfall is not having enough variation in the meeting for different learning types. If the meeting only consists of slides or videos, it might not cater to everyone’s learning style. Therefore, mixing up the media and providing breaks is important to keep the team engaged.

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Enhancing Sales Performance Through Effective One-on-One Coaching Meetings

The effectiveness of sales management is paramount, particularly in how sales managers support their team members to enhance performance. The nuanced relationship between a salesperson and their manager can significantly influence their success, a topic that is gaining traction among CEOs and sales leaders seeking to maximize their team’s capabilities. One-on-one meetings between sales managers and salespeople are not just routine check-ins but pivotal moments that can define a sales team’s success trajectory. These interactions… Enhancing Sales Performance Through Effective One-on-One Coaching Meetings

From Crisis to Control: Managing Expectations in Sales Leadership

The concept of “managing up” emphasizes the importance of aligning a sales team’s objectives with the expectations of upper management. This approach is particularly crucial during periods of sales turnaround, where the usual metrics might falter and innovative, agile responses are required. “Managing up” involves treating higher management as an internal customer whose needs must be understood and met with the same diligence as those of external clients. For sales leaders, this means crafting a… From Crisis to Control: Managing Expectations in Sales Leadership