Black Sales Journal

If you are in sales you have most likely heard about the following phrase:

“80% of your production comes from 20% of your sales force”

You may also have heard this phrase:

“20% of your sales activities will generate 80% of your sales results”

I am quite sure that you have heard both of these.  More importantly you should figure out a way to make both of statements work for you.

Before we start examining that, we would like to recognize Vilfredo Pareto (1848 – 1923) of Italy who started this all in 1906.  He used it initially to explain the fact that 80% of the wealth of his country was in the hands of 20% of the population, also known as the rich.  This is called Pareto’s Principle and you may also hear of it as the ’80-20 Rule’.  It is used in everything from sales, to sports, to personal relationships, and of course wealth.

I have found this principal to be correct for the most part and that is why I’d like to take some time to examine it. Stated simply, a small number of are responsible for a large percentage of the effect.  Most examples use a figure of 20 to 80 or 20:80.

It is exact?  Of course not, but it simple and easy to understand that the relationship between what we put in, and what we get out, is not balanced.

Be the Best!

Successful Black sales professionals stand out.  If you are able to perform at a level that makes you a valuable asset to your employer, you are to be commended, as the ‘environmental’ resistance (general economics, racial preference, and racial prejudice) that you encounter is omnipresent.

Being successful is not enough as your objective is to be the best, and that designation does not recognize race.  To be the best, you need to be in the top 20%.  If you are making money that is fine as well, but overall you still need to be in the top 20%.

Strategies to make it there are important.  Remember, whether you are struggling, or currently successful, if you want to change the result, you must change your behavior!

Here are a few activities that will help vault you to the top:

• Become an expert (BSJ 6-27 More on Being an Expert – An Edge for the Black Sales Professional)
• Find prospects through a seminar (BSJ 3-24 – Finding Prospects through a Seminar and BSJ 12-19 – Increase Your Prospect Base)
• Improve and increase your networking (BSJ 2/21- Networking for the Black Sales Professional and BSJ 12-19 Increase Your Prospect Base)
• Ask your best customers for referrals (BSJ 12-10 Increase Your Prospect Base)
• Increase your customer retention (BSJ 5 Random Acts to Lock Down Your Customers)
• Try some new prospecting angles (BSJ 11/28- Tune-Up Your Cold Calling and Phone Etiquette and BSJ 2-10 – 9 Prospecting Tips for the Black Sales Professional.
• Network effectively (BSJ 2-21- Networking for the Black Sales Professional)

Read them and select one or two (or several) and give them a try.

Increase your Effectiveness

The second phrase at the beginning of this document illustrates the 80:20 rule of the Pareto Principle by indicating as stated earlier that what we put into something might not be what we eventually get out.  Put primary priority on the items that increase your effectiveness. Recognize that your efforts need to favor those activities that “make a significant difference”.

Author and self-effectiveness guru Steven Covey urges us to “Put first things first”.  Indicating that you should undertake your activities on the basis of importance rather than urgency.

This would mean that you would spend working hours doing some of your important prospecting, and move your expense account (something I was terrible at) preparation to the evening.  It would mean that you would spend valuable time doing customer problem solving first, relationship building next, then the various and sundry activities that are urgent, but not important.

Below I’ve listed some good suggestions with links to past BSJ posts that will make a difference in moving into or staying in the 20%.

• Be Responsive! (BSJ 1-16 – Responsiveness – The Objective of the Sales Professional)
• Know your compensation system (BSJ  11-16 Know How You Get Paid – Its About That Paper)
• Plan Effectively- Construct a Good Sales Plan (BSJ 11-10 – Solidify Your Sales Plan)
• Communicate and listen effectively (BSJ 11/7 – Make Communications a Strength and BSJ 4-14- Are You Listening to Your Customers?)
• Deepening Customer Relationships (BSJ 1/11 – Deepening Customer Relationships Revisited
• Be your customer’s consultant (BSJ 6/6 – Consultative Selling- An Asset for the Black Sales Professional)
• Be your customer’s expert (BSJ 6/27, More on Being an Expert)

There is a lot of information here, yet the most important part of the process is to recognize the importance of changing something.  If you want to change the results, you must change your behavior.  Remember, ‘you can lie about the numbers, but the numbers don’t lie.’

For 2012 change something! Be the best, and always be effective!

Everyone starts somewhere!  When you are new and untested, go to your strengths.   Take a look at this:

___________________________________

During my days as a sales manager I was often asked by fledgling sales professionals as to what they could do to compete with the wealth of sales professionals out there with greater experience and knowledge?  What could they do that could negate that experience and make them the sales professional of choice?

The answer may well be nothing! Nothing negates the advantages that knowledge and experience gives.  It is something that cannot be taken away from the sales professional and there will be a day that you all will be glad about it.

However, there are some actions that you can undertake that will put you in a position to win, and your ‘weaknesses’ will be your strongest assets.

Know Your Assets and Use Them

Know your most plentiful assets and know how to constructively employs them to make the difference in how the client/prospect perceives a sales professional.

__________________________________

Question:  What does a new sales professional have in abundance over the successful sales professional?
Answer: Time

The new sales professional has the ability to spend mountains of time on individual prospects and clients, ultimately impressing them with his or her attention and presence.  Be wise about it; yet note the relationship building aspect of spending face-time and effort impressing the buyer and how this will pay dividends.

______________________________________

Question:  How can you make the client ‘dependent’ on you?
Answer: Make yourself indispensable and memorable.

How can you use your ability to focus on the customer?  Create memorable moments (Black Sales Journal 2/3/2011 – Make Yourself Memorable) by sending personally signed cards and notes that share information about products, industry news, and economic data.  Share outlooks and comment on how that might affect your customer/prospect. Increase the customer’s dependency on you, and a relationship is created.

_____________________________________

Question:  Does your customer have a perplexing problem?
Answer:  Do Extensive research

Take on a project of solving a problem that could be a game changer.  I once was acquainted with sales professional that was asked to advise how to insure a totally new energy concept.  He researched, and researched, and once finished presented to the prospect and the prospects two biggest suppliers.  The project never got off of the ground, but the sales professional ended up winning the account for both of the suppliers (he already had the other principal) as a result of his spirited work.

______________________________________________

Situation:  You need to find prospects…now!
Answer:  Use your ability to access technology for a full-out prospect blitz.

Find new, untapped prospects using your ability to research online.  Most experienced sales professionals have a wealth of work to do with existing accounts, and they are also about the business of sourcing prospects.  They won’t have nearly the amount of time, and potentially technology background to do this.  I have seen it done often, and it is often difficult for the vets to keep up.

Sound too Simple?

It is simple.  The problem with sales is that cumulative sales and existing clients generate a significant amount of work.  The sales professional who is the beneficiary of that account either does the maintenance work, or delegates it to an assistant or inside sales person.

Sales professionals vary in their ability to delegate, but no matter what, it takes time to do the actual work, or to delegate.  The new, but lean, sales professional can use that time to develop prospects and relationships as well as source them by spending the adequate amount of time finding those that have not been claimed.

Use your intrinsic energy to master the prospect system, find the relationships and then deliver solutions so that you can sell.  Spend valuable time working at relationships as you have the time to do it.  It is still a lot of work, but this is what you can be doing.

Here is the time to put together a good plan regarding which prospects to attack, and what sales assets to exploit.  You have something to offer, and it does not work with every buyer/customer/prospect, but with many it makes a significant difference.

Being effective when you are new is important.  Your sales plan executed well is the true meaning of effectiveness.

Always be effective!

Your comments are appreciated.