After my earlier July blog, I reminisced about one of the entrepreneurs I worked for who told me he was not a creative person, he was more of a rock polisher. 

Mike said he was not creative, he could never mine a good product idea, but he could reshape an idea and make it shine.  I would not have called Mike a rock polisher because of his passion and drive.  He was right though, it takes more than passion and drive to create something from nothing.  I call that mining process, business development.  What does it look like?

1. It may be creating a new product from scratch, and bringing it to introduction
2. It may be finding a new path to market and launching it with a new partner
3. It can be anything to motivate a customer to buy that hasn’t been tried before.

 
The cool thing about Mike is that he understood it took risk to do these things so he fostered an environment that trying something new was not a punishable crime.  He also understood that this business development “thing” was a company strength, we needed it to grow.
 
What are the particular set of skills that a business development type person will bring?

1. They run a project to ground.  They have an ability to see a problem and see it as an opportunity for growth.  They see the shortfall and apply the scientific method.  They define the problem, generate alternatives, pick one and implement it.  They follow the process through-they don’t hand it off at any stage until it succeeds-then they give it to the rock polisher that can smooth out the rough edges.
2. They make a plan.  They explain the plan to all around them. And create expectations and a timeline so that the project has a beginning and a middle.  (They may not be around for the maturation stage).  They work the plan.
3. They are analytical.  They rationalize what they are doing by visualizing the future and quantifying it.
4. They build relationships.  Their curiosity and energy makes others want to join their project.  The relationships usually endure the project and more.
5. They don’t let a rigid NPD process manage the project and feed the naysayers.  Process is good, however, chaos drives innovation.  Business developers don’t try to schedule chaos and innovation-it does not work and slows down the launch.

 
What they are not is good politicians.  They don’t care about the credit because it is shared with everyone involved. http://www.jimthomasintl.com/blog/archives/04-2017  I have read many articles about fostering innovation and creativity.  They are all good and have an element of truth.  I hope this blog can be added to that stack of innovation articles sitting somewhere in your inbox.

Do you want to have a free fifteen minute discussion so we can discuss business development? Sign up on my web site http://www.jimthomasintl.com/ or contact me directly by phone.


Good Selling!

We spent June in Europe, hence no blog for that month.  I combined work and play.  The work was in Western Europe; the play in Eastern Europe.  There are "sea" changes occurring on both sides of that continent, and I hope to keep traveling there for both pleasure and business. My June time helped me reflect on past selling techniques. 

I get a little bit tired of hearing about the “solutions” based sale. It is just one tactic. The big differentiator between sales and management is that the sales approach requires overtly asking for the order--i.e., called closing. The solution close is an authentically sincere recap of the discussion, with outcomes that effectively rationalize why your recommendation is the right one for this client. 

There are other ways of closing the sale. A good salesperson knows which closing technique to use at the right time quickly and efficiently to remove awkwardness at this point of the selling process.

There are seven other closing techniques I review when delivering a sales training program. Five are soft sales approaches. Two are harder nosed approaches, and should be used sparingly. It is best to role play them in training.  Not everyone uses all techniques but you should be aware of them and practice them. The softer five are the:

1. "Customer is always right" close. I like this one because sometimes buyers need to have three alternatives and I’d like each one of them to be mine. The first alternative is usually the highest price and has maximum benefits. The second is the middle alternative, where there may be "parity" between price and benefit. The third alternative is clearly the low budget option...and leaves much to be desired. This is great for the buyer who needs to feel in-control.
   
2. "Best options" close.Guide the discussion by asking questions that the customer will respond to narrow the selection to where the customer feels they have the best option.
3. "Only option" close.User this when the customer knows specifically what they want, and just needs reassurance.Show the customer confidence by using an affirming voice and body language.
4. "Reference" close.Use another mutually trusted client that is already using your product.Explain the application, history and contact information of that reference client...and it's prudent to have that other, trusted client's consent to share reference and contact info.
5. "High Hurdle" close.Share the outcome as the solution to the problem that the client has identified as their primary obstacle.

The two harder nose sales closes are the:

1. "Deadline" close.Be factual and deliver it solemnly.This occurs with a close-out of inventory or a price-based option.Only use technique when there is a real/credible deadline, or you lose trust.
2. "All or nothing" close.Present the offer and wait.If there is no response, stop talking, leave your contact information and depart.

Do you want to have a free fifteen minute discussion on closing techniques you can use?  Sign up on my web site http://www.jimthomasintl.com/ or contact me directly by phone.

Good Selling!