Don’t Act Like a Seller, Think Like a Buyer
Chapter 9: Business Expansion Will Lead Your Future
To have the highest income, you have to be the best. – T. Harv Eker
You may have the business skills of all the people like Zig Ziglar,
and Brian Tracy combined,
but if you lack career opportunities,
you’re still in big trouble.
That’s why I say business expansion leads your future.
This is true for both commission
and corporate salespeople,
and entrepreneurs who run their own businesses.
Business expansion includes the following four activities:
1. Maintain a good customer base that you already have.
2. Develop opportunities based on that.
3. Upgrade existing customers for future business.
4. Find more new customers.
If you ignore any of those four factors, for example,
if you only know how to maintain your existing customer base well
but do not seek to find any new customers,
your business career will certainly not be successful cannot develop.
Being successful in business requires a salesperson
to think about many things,
two of which are extremely important:
how you spend your time,
and how you organize what you want to achieve.
But the sales person,
even with the right mindset,
may be the best in the world at the DELTA sales process,
can easily build business relationships,
but lack the ability to expand business and not create
If you find opportunities with new customers,
you will soon have
to say goodbye to your profession,
or fall into a deadlock, stagnate.
They’ll be left sitting around,
both of which are not interesting at all.
“Confidence applied properly surpasses genius.
There’s nothing like confidence.” –Mike Tyson
MAINTAIN THE CUSTOMER BASE YOU ALWAYS HAVE
You must constantly evaluate the business growth opportunities you have.
To do that,
you must seriously analyze your situation and ask the question:
Where is your business right now?
What are the opportunities for me to develop my current business?
Where are the customers who no longer buy their products?
Where are the opportunities
to do business with people
you don’t know
or meet but need to see
– perhaps by upgrading an existing relationship,
or by making a phone call?
Finally, perhaps this is the most important question:
In which relationship should I stop wasting my time?
If you are not active,
there will be no business.
I’ve given you a general approach
to thinking like a customer,
using the right mindset,
proven business processes,
and relationships to strengthen your business.
But if you don’t apply those ideas on a regular basis,
if you don’t build a foundation for your business,
you won’t get any results.
In short, the problem is not what you know,
but how you apply your knowledge.
Like many people,
I think of business growth as a funnel.
It is not a new concept,
but it has practical significance,
which is worth noting.
The question you need to ask yourself is:
how many leads do you have in that funnel?
Where are they in the funnel?
Your funnel must be filled
from multiple sources:
clients you’ve dealt with,
people your customers refer
(jump through the Relationship Tower),
potential mail customers,
The people you have dealt with are the people
who are more likely to continue doing business with you,
continue to provide you with business
from their company,
or will continue to help you do business
with other people is different.
So of course they are the most valuable part of your funnel,
but in terms of numbers they are in the minority,
because we always have more potential customers
than active customers.
Ideally, you’ve established positive,
lasting business relationships with these customers.
You can have a meaningful conversation with them at any time,
and there’s a good chance you’ll maintain
and grow the business you already have with them.
“You either suffer the pain of discipline or the pain of regret.” –Jim Rohn
UPGRADE YOUR OWN CUSTOMERS FOR FUTURE BUSINESS
The second group of people in your funnel are the leads
that other people have referred to you.
Most salespeople know that they need
to actively seek referrals from loyal customers.
a saleswoman for the apparel company Doncaster,
is willing to offer her clients a $100 fee each time
they refer her to a new client.
But sales managers also know that not all
salespeople are so eager
to find new customers.
In addition, the type of referral is also very important,
as there are less effective referral types
but also very effective referral types
(most effective is the Relationship Tower jump
when you are at the top of someone’s Relationship Tower)
A weak recommender is someone who says to you,
“You should call Bob Rose.”
Then you call Bob and say,
“Jerry Acuff told me to call you.”
It’s also an approach,
and it can be a warm,
friendly phone call,
but it’s not very impactful.
It’s much more effective if the referrer calls himself
and then informs you back:
“Bob, a friend of mine is about to call you.
Please wait to hear from her.”
The most effective referrer is the one
who not only makes the phone call,
but also arranges a meeting for all three.
“There is no such thing as failure.
There are only results.” –Tony Robbins
CREATE NEW CUSTOMERS
The third group,
the largest group in your funnel,
are the people who are likely
to become customers through mail,
conference calls, or over the phone…
I will. I’m not saying
that just communicating over the phone won’t work,
because I have an acquaintance
who had a $15 million transaction based entirely on phone calls.
I also see many other business deals done over the phone.
But in my personal experience,
the phone is not the best way
to build business relationships with
people you don’t even know.
The best way to do business
with these people is to make them your acquaintances.
feel free to join the forum in business seminars.
Get involved in events that offer many networking opportunities.
Get involved in anything that will give you the opportunity to interact
with people who may want to do business with you,
or can refer you to people who want to do business with you.
In short, you must regularly go to places
where you can interact with other people.
Personally, I am often invited
to speak at universities and conferences.
When speaking at universities,
I not only have the opportunity
to bring knowledge to students,
but also have the opportunity
to interact with companies
that have relationships with those universities.
And who knows,
one day these companies will become my customers.
And speaking at conferences is also a great opportunity for me
to appear in public
and develop my client network.
Not long ago,
I was invited to speak at a convention in Philadelphia.
After a 30-minute talk,
a group of listeners approached me.
They are people sent by the company to the conference
with the purpose of finding a certain businessman
who can help them change the commercial culture in the company.
So from that conference,
I got a big project.
If you can create an opportunity for clients
to come along and watch you pitch your ideas,
that’s well worth it.
Recently, we held a seminar that
attracted 32 people from 11 different companies,
and three people signed with us soon after.
These three contracts are worth many times more than
the cost to organize the workshop.
Put yourself in a position where you can start
and grow relationships.
There are many opportunities to do this,
focus on building relationships rather than growing the business.
That growth will happen automatically after
you have established good relationships.
This means that
the way you think plays a key role in building business relationships
with people you don’t know.
If your focus is on finding a new client,
you’ll have a different approach;
But if you just want to know about that person,
and then think about whether to meet him
to discuss business or not,
you have another approach.
One day I went to the Arizona Cardinals football game,
and wore a T-shirt with the words VMI
(Virginia Military Institute) printed on it.
The person behind me,
also a season ticket holder,
lightly touched my shoulder
and asked if I was from Virginia.
I say I’m actually from Memphis,
but I studied in Virginia before.
He said that he, too,
had attended Virginia Tech.
Virginia Military Academy and Virginia Tech are “rivals”.
So the two of us talked about our school days
and about football programs.
When I went to watch the next game,
I met that John again and the two of us chatted again.
At the end of the season I asked John what his job was
and learned that he is currently working for
a financial accounting firm.
John suggested going out to lunch one day.
Please add that at the time
I didn’t have to worry about my financial officer,
I just enjoyed chatting with John.
So I agreed to have lunch.
We went to lunch together
without mentioning the subject of financial accounting.
We’re just talking about football,
Turns out I was coaching a team
that played against my brother John’s team
when he was in high school.
So the connections
between me and John naturally increased.
Then he asked about my work.
He’s starting to get interested in my story.
They started seeing each other more often,
every couple of weeks.
Through those meetings,
I found that John is the right type of person to cooperate with
because he has all the PICK elements
dedication to the profession,
Finally John asked if I had a finance officer.
I said yes.
He asked me again
if I was satisfied with this employee.
I answer not really.
Now I understand that John is very talented.
If I had said then
that I was satisfied with my current financial officer,
he would never have tried to convince me;
you will know immediately that there is no match
between my situation and your service.
Now he is our financial manager,
specializing in the financial evaluation of the company,
and I am happy to refer him to four
or five other clients.
It is an example of developing a business
based on the spirit of building relationships.
Start with the relationships you have
or potential customers.
Think about who is already connected to you
and might refer you to someone they know.
Think about how you would put yourself in a position
where people would want to do business with you.
The goal is to strike a balance
between carrying out existing business
and managing clients with the creation of new business opportunities.
If you are so absorbed in your current business that you forget
to think about a new business in the future,
you will eventually fail.
So while I’m talking about relationship mapping,
I also want to talk about the concept
of targeting new business goals.
Who are the new business goals I need to pursue?
“When you undervalue what you do,
the world will undervalue who you are.” –Oprah Winfrey
SOME PEOPLE WILL NEVER BUY OUR PRODUCTS
It is sad that some people,
no matter how much precious time we have invested in them,
never end up buying our products.
The reason can be very simple,
that person also has a sister
or brother as an agent for a company
with the same product.
No matter how persuasive an offer is,
it won’t win the relationship,
and that person will only buy from his
or her brother’s or sister’s company.
you will never know this fact
if you do not ask the right questions,
and do not try to grasp the reality of the situation.
It is important to invest the time to learn the facts.
There are also some people who never buy our products
because we have never contacted them.
It is said that persistence will convince others.
This may be true,
but it is also because of it that we end up having to taste failure.
I remember Kenny Rogers once advising, like,
you need to know when to close a business,
and when to spend time with others.
You have to invest your time in people you know
who have a real chance of succeeding,
otherwise you’re building a foundation for failure.
As I said before,
there are people who think they will be your customers,
but end up not buying your product,
their non-purchase is
due to one of three reasons:
first, your message not reach them;
second, they already have a relationship
with other people that you can’t get into;
third, they are disgruntled
with someone in your company
(or sometimes yourself).
The only thing that you can do in this case
is to find out the cause and try to fix it.
The ability to assess
and identify a real opportunity is extremely important.
The ability to assess a prospect’s needs
and desire to solve their problems on time is equally important.
Time management isn’t just about
how much time you spend growing your business.
It also includes the time you spend selling
and serving your current customers,
the time you spend pursuing your goals
that are likely to become your customers,
and the time spent on many other unnamed things.
There are many people who just want to buy your time,
and if you allow them to,
you are wasting time
that could have been spent doing something much more profitable.
But business people must always ask themselves,
“How do I use my time most effectively?”
How we spend our time drives the entire business development process.
There are many salespeople
who value the customer’s time,
thinking that the customer’s time is priceless.
But in reality,
the salesperson’s time is much more valuable.
If the sales agent misuses the customer’s time,
the customer only loses about an hour or so.
But as long as we miss an hour,
we may miss the greatest opportunity of our lives.
Chief Commercial Officer of Smith&Nephew,
thinks the same way,
“I’ve worked with sales reps
who often missed our appointments.
You know, people meet you at 3 o’clock and forever
By 3:30 they are still not ready to come see you.
There have been several times
when I have gone to the secretary
or the person making the appointment and said,
‘I know you guys are busy
but I don’t have any free time either.
I have many other appointments,
I have to go now.
Maybe we’ll just have to meet again.’”
As Melvin pointed out,
you should spend time talking to another person
who really wants to buy your product.
“Sitting in the office and waiting is taboo.
Doing so looks like you have no work to do,
and that makes your time less valuable in the eyes of the customer.”
Working in sales
but wasting time by not preparing
for the job in advance,
by talking too much with the wrong people
(those who do not buy products
or those who specialize in making appointments today),
by not following close to the requirements of customers,
then only the country left the profession.
Every time you take the time
to approach an inappropriate person,
you miss out on the opportunity
to contact the right person.
“If you can’t do great things,
do small things in a great way.” –Napoleon Hill
FIND WHAT YOU WANT TO ACHIEVE
It starts with pinpointing the specific goal we want to achieve,
because according to Napoleon Hill,
author of Think and Grow Rich,
anything that If the human brain can understand
and believe it,
it can be achieved.
Dr. Maxwell Maltz, in Psycho-Cybernetics,
which I have read
and re-read 38 times,
says that our minds all have a detector mechanism.
like a heat-seeking missile.
There is nothing more important
than clearly defining what you want to achieve.
Once a goal has been clearly defined,
there will be a way
to bring that goal back to us
and make it a reality.
But just having a plan is not enough.
First, you need to define what your goal is,
and write it down.
Once you have a goal,
then you have a plan.
Here’s how I do it:
I always carry a list of goals
with me and reread it often.
On my list, the first goal is to get
to some level in business.
The next goal is to Find new business opportunities at company X,
in this section I have listed some of them.
Next is the section Complete a deal with an existing customer.
Not only do I keep records of deals,
but I also keep in mind the size of the contract.
Then next was the section Close a new deal,
along with a list of people
I had just had the opportunity to interact with.
The last item is Expand your list of goals
to pursue the business for next year,
and so far I have listed three companies in this category.
Doing so is to manage time,
to avoid the situation
that every day you are so busy
and customer service that you have no time
to worry about business development.
Because if so,
maybe this year you will get many satisfactory results,
but next year you will not know what to do.
You need to manage goals
for both years in parallel.
That means you have to figure out
where you can get business,
and how you’ll strengthen your existing business relationships.
It also means that
you have to be very clear about the goals you want to achieve
and have strategies in place to grow your business.
These tactics must be close to reality to be able
to steer the work to the place you want.
Therefore, you need to have a thorough understanding of the job,
the market, the industry,
and your competitors.
You must have a clear understanding of your own work.
Don’t let your boss warn you when
and where you’re going to lose a customer.
(By then you may have already lost your job.)
You have to know when,
and why for yourself,
in order to have concrete countermeasures for those losses.
After all, a general knowledge of the job
and the business industry will be very helpful.
You must determine where the people
who have a big influence on your success are now
and where they are going.
Identify potential people in your own industry
to build relationships with.
Be wary of possible mergers
or joint ventures within the company,
because if both companies are about to merge,
you don’t have a foothold,
don’t win the initial favor.
50% chance that your fate is already decided.
There is an acronym that must always be kept in mind,
which is ABL (Always Be Looking).
You can’t predict where business opportunities will come from,
so prepare quick talks,
called “elevator speeches,”
about what you do.
Always be ready to give a 15-second talk
when someone asks about your work.
There is an e-book that I would highly recommend to you.
It is Opening Doors with Brilliant Elevator Speech by Jeffrey Mayer;
This book teaches us how to compose an engaging elevator talk.
Do you want to tell people briefly
and convincingly about your career?
You never know where you’ll find your next opportunity
– from a new acquaintance at a cocktail party,
a seatmate on an airplane,
or even someone sharing an elevator.
Business growth is a process,
not a goal.
You need to be polite to everyone,
because you never know, one day,
who will help you.
Prepare your elevator talk in advance,
because you also never know
when an opportunity will turn into an opportunity.
Surely John in the story I told you,
when going to watch football,
did not expect and did not expect that
he would get a customer.
If you don’t aim for anything,
you won’t meet anything either.
But if you know what you want
and work hard to get it,
if you use your time productively
to grow your existing customer base
and find new ones,
then it’s definitely worth it,
you will reach your goal.
Based on the experience of a person
who has been a sales person,
a trade manager,
and a trade coach,
I believe that business talent must be based on three factors:
Right way of thinking,
good trading process,
and the ability to build high-quality business relationships.
At the same time,
the salesperson must also focus on growing the business.
The difference in method
I present is not in the business development issue,
as there are already many books written on the subject
of business development.
It is also not part of the trading process,
because there are many other commercial processes.
The difference that I want to emphasize here
is the right way of thinking
and the way to build relationships.
Without those two elements,
you will have no way to the top in business.
When you meet a potential customer,
be prepared that you’re trying to discover
if there’s a compromise
between that person’s needs
and your company’s supply.
Constantly improve your understanding of the company,
and your competitors.
Hone your messaging skills to discover the most persuasive words
Practice the DELTA trading process
so that your client listens to you,
so you can understand their situation emotionally and rationally,
and then come up with a solution.
Finally, build business relationships in a positive,
systematic and regular way.
Don’t just know how to sell,
but also know how to help customers buy.
Don’t act like a seller,
think like a buyer.
Do those things,
and I am sure you will be successful in your sales business
– and more importantly
– will reap a lot of joy in life.
Rich people think poverty is the root of all evil.