If you are in B2B, and work in a type of business where sourcing prospects is necessary and essential, then it is always a challenge to find the qualified prospects.  It is even more difficult when you are Black. Prospecting is always a challenge, and you have become accustomed to dealing with it.

I think one of the best ways of finding prospects that are willing and able is to bring the prospects to you.  Now, that is not as simple as it sounds.  It also means that you need to have a “hook”.  This hook will real them in so that you can spend social time with them.  In many cases, that is all you need to win them over.

I think that devising a strategy is important.  I am going to talk about a strategy that will work if used effectively.  This strategy will not totally replace telephone prospecting; yet will work if you know the names of buyers and some of their concerns or interest.

As was discussed in Black Sales Journal 2/21, Networking for the Black Sales Professional, networking is a powerful way to bring in prospects.  Today I want to focus on seminars, when done as networking, and the benefits of doing it correctly.

Sometimes you need some help to pull the prospect in.  This ‘hook’ can be a speaker, some libations, some valuable late-breaking information, or all of these items.  The hook is seldom if ever free, yet with some light analysis, you can determine a payback point, even if you don’t want to use quantitative analysis.

A Simple Example

Lets start with an example of a meeting that I’ve done before.  You want to get prospects of like nature together to sell them ‘widgets’.  They are all involved in the business of transportation services, and would all make good clients for your product.  They are from the same geographic area, and have many of the same concerns.

You engage a local expert, politician, or activist to speak to the group regarding changes in legislation, or regulation.  The cost will most likely be free, and the group can hear the expert talk on these issues at no charge.  Now, where you score is registration, where you get as much useful information as you can from each invitee, but also from casual interaction during the cocktail or social (this sounds better) hour.  Where you, as the vendor of your product or service gets an opportunity to speak to as many of the business owners as you can regarding your services, and who you would like to sell to them.

The Positive Results:

• A database of serious prospects to sell to.
• The movement of many ‘suspects’ to prospect.  Keeping in mind that you always knew they were there, you lock them in when you “touch” them.
• Notoriety as the person that got valuable information into their hands.
• They appreciate a professional showing interest and forethought about their industry
• You benefit from the efficiency of having them all together in the same place for the solicitation effort.

The Challenges:

• Making sure that you ‘touch’ each prospect.
• Building your rapport while working the crowd
• Financial issues – Those cocktails are not free
• Doing solid follow-up

There are challenges in everything that we do, and these are surmountable.

Make It Even Better

Using the same example above, you team with another sales professional in an industry that complements, not competes with yours.  Technology gives us an opportunity to consistently teach, train, and explain. The other sales professional markets a technology product for the transportation industry, and you provide a service to the transportation industry.  By teaming up as sales professionals you are able to do the following:

• Share prospect bases, in turn broadening your reach and increasing the penetration for the other sales professional as well.
• Split expenses which creates efficiency.
• More effectively cover the crowd

In this process, your objective is to meet as many prospects as you possibly can.  This objective can be realized easily if done correctly.  Costs generated by these activities should be monitored to determine:

• The cost per event in total
• The cost per prospect for the event
• The number of converted prospects (prospects to customers)
• The average amount of revenue generated in say 6 months to a year from the activity
• The total amount of revenue generated by the activity

Sharing the information about these metrics with the other sales professional allows you to determine effectiveness.  These can be done for any range of products.  Finding an individual who sells a complementary product is simple and splitting costs is efficient.

A Couple of Tips

These events can definitely be revenue generating, yet a couple of sales tips will help you:

• It does neither you, nor another sales professional any good to have prospects standing in a corner sipping your liquor while they converse.  As a matter of fact, it will only cost you money.  With this in mind, I would suggest that you, depending on the size of your group, have ample company personnel (inside sales assistants, sales managers, etc) to help you in corralling all of the prospects you can touch.
• Many of these people may know each other as they are in the same industry.  They will tend to gather and talk about industry issues.   A scheme or game where they have to mingle would be good.  Consider having them get a token from any meeting sponsor that is there.  It would make them eligible for a good door prize.  This can go a long way to keeping them moving and mixing.

A big key is to make sure that you keep a good database for your use, or to share with the other sales professional(s) in attendance.  You will be amazed as to how quickly the night will go while you are making sure you meet everyone.  Remember, it is your social hour; you deserve to meet them all.

Good Hunting.  We enjoy your Comments.

The role of sales manager was one of the most rewarding positions I ever worked.  To be able to bring fresh new sales talent into an organization was always exciting.  To make the moves to mold an existing sales unit into a conglomeration of individuals who reached and exceed sales goals with regularity was exciting as well.

The patience and determination that job required was amazing, while at the same time, it required one to quickly see thought the mud while pressing for accountability from sales the professionals.

It is a fact that sales managers, if they are solid in all aspects of management, make good managers in total.  They understand the customer better that others as well as the process of business development.

Even more important is the reality that the Black sales professional, even when moderately successful in sales, should consider a pitch for that important sales management job.  We will touch on that in this post.

Being prepared, and having the tools is important.  Let’s discuss some of the ways that you can be prepared for the opportunity.

The Most Important Tools for Sales Management

There are requisite skills for every job out there, and that is true for the job of sales manager as well.  Most sales managers are given a first assignment in a field unit, then increasing responsibility as District Sales Managers, Regional Sales Managers, and Vice Presidents of Sales.

Someone with responsibility for an operation, such as a General Manager, will want in their employ someone who does not resort to excuses or finger pointing at other units.  They need someone who understands the sales process.  I listed some of the skills and attributes that individuals responsible for operations look for when they seek a leader for a sales unit:

• Leadership
• Coach and Trainer
• Visionary
• Team Builder
• Motivator

Now, couple these with the fact that you also want these attributes in the leader of your sales unit:

• Intelligence
• Responsibility and Integrity
• Mental Toughness
• Accountability

If you can get these items, in various amounts, even with need for improvement, you can be an effective manager.

Do you have these skills?  If you have them, have you been able to demonstrate them? These are important questions as this is where you can make a difference.

Let’s Take A Closer Look

Leadership - This most important attribute can be demonstrated by your accepting responsibility in meetings, projects, breakout groups, and other assignments.  Don’t be in the “everyone else took a step back” situation.  Step to the front and claim the role as a leader.

Coach and Trainer – This is an important role for a sales manager, so to the degree that you can demonstrate it, you will show initiative and skill.  Best suggestion; mentor other sales professionals in your organization.  Nothing works better than another professional saying that you helped with his or her career.  You also learn in the process.

Visionary – This is an attribute more than a skill, yet totally necessary in the sales management realm.  I speak of it in Black Sales Journal, March 7, 2010, Be The Consummate Professional. It is what happens when you know what you are doing well as a professional, and knowing your organization, and are able to determine ways processes or products can be done better.  It is foreseeing the change before it is necessary.

Team Builder – This one you can do, and are probably doing already.  Now, remember why it is important … Sales professionals are used to being mavericks.  They are used to a “zero sum” game, “I win, or you win, we both don’t win.”  The ranks of sales is not stocked with team builders, you can stand out from those that are faking it.

Motivator – It might be hard to prove your level of skill on this one.  You can show energy, enthusiasm, as well as drive in interacting with your manager and others.  They must see you as being able to provide an atmosphere of motivation that will benefit others.

Intelligence – This one is one that cannot be faked.  You need to have the basic intelligence to run the business of distributing the company’s product.  They will not give you an aptitude test, yet they will look at everything you have done lately, and how you handled it.  Do you understand business functions, and can you think “on the fly?”

Responsibility and Integrity – I put these two together for a reason. These, as is intelligence, are reasons that professionals don’t get into sales management.  If you are whiney, and complaining, even when you are correct, you will not get there.  If you “fudge” on expense reports, and the only reason that actions are not taken are that they cannot prove you did, you will not get there.  Show responsibility and always exude integrity, and you will be looked on favorably.

Mental Toughness and Balance – You cannot be a sales manager if you don’t exude mental toughness.  You cannot be down one day and up the next.  It does not work that way when you are responsible for others.  Know that the “sun will come up tomorrow” in everything you do.  Know the law of large numbers and be able to teach it to others.

Accountability – Be accountable, and be able to expect it from others.  Avoid excuses, and always know your role, your goals, and everyone else’s.  Accountability is the rule in management, and even more in sales management.

How You Can Get Prepared?

If you are Black, you recognize that Blacks are underrepresented in sales.   It suffices to say that they are well underrepresented in sales management.  We, frankly have woeful numbers in the sales management ranks.

The way to have more Black sales managers is to perform and strategize.  Perform well as sales professional, and strategize as to the best time to make the move to management.  The positions come up when managers retire, get promotions, or are terminated.

That means you need to draw up ‘your own’ succession plan for your organization.  How long does your managers, or his or her peers have to work before promotion, retirement, or termination?  Who is your competition, and what do they have as their attributes as compared you?  Show your motivation, always increase your knowledge, and above all, do everything you do with integrity.

Later this month we will review how to ask for the sales management job.   This is a chance for you to show your preparation and you qualifications.  Make sure to see it.

We welcome your comments.