Author Archives: Michael Dalis

Slow More, Close More

You’re on the road.  Your phone is dead and car navigation is out of range.  Because you’re running late, you miss an important turn.  The clock is ticking as you drive miles past your destination.  Eventually you pull over, realize your mistake, backtrack and finally arrive (even later) at your destination.

Have you been there?

As a sales professional, you may be feeling “late” relative to any number of things.  These could include: your sales quota, your peers, your competitors, an opportunity or client.  During a sales meeting, those feelings can cause you to rush and overshoot important pivot points, like on a road trip. Those details and cues, and the adjustments you make in response, can be the difference between winning and losing the business.

So, how do you slow down when your gut is telling you to move faster, catch up?  Try these five adjustments to pump the brakes for a more effective sales meeting:

                   LESS                           MORE
Cramming in filler appointments Preparing better for meetings that matter
Time spent on rapport Time on agenda development
Talking/tutoring Listening/learning
About you About them
Assumptions Checking for alignment

It’s counterintuitive to feather the brakes when your instincts are telling you to lean on the accelerator.  Yet isn’t that exactly the adjustment you make when you are at your best, most dialed-in, selling self?

What are the ways you find your patience in effective sales meetings, enabling you to advance and close more business?

Winning Teams Need a Rallying Cry

Last summer, it was easy to get drawn into the incredible drama of the 2016 Olympics in Rio.  And with all this winning and losing, it was impossible for me as a sales coach to resist the chance to draw parallels to effective selling. My focus here is on the importance of a shared mission among winning teams.

The attached article from the New York Times, published August 14, 2016, recounts the story of the USA women’s eight-person rowing team, which was struggling in their final race with a medal on the line.

http://www.nytimes.com/2016/08/14/sports/olympics/rowing-united-states-womens-eight.html?_r=0

“This is the U.S. Women’s Eight” cried the coxswain halfway through the grueling race.  Those words triggered the athletes’ strong sense of the history and purpose of USA women’s rowing.  They recovered in the second half of the race and won the gold medal.

The late Dr. J. Richard Hackman, who had been a leading researcher on high performing teams and professor of social and organizational psychology at Harvard University, would probably have said that the coxswain’s cry formed a “compelling direction” for the USA team.  When a leader’s direction is clear and engaging, and offers an invitation, it energizes and unifies a team behind a shared purpose.  In the case of the 2016 USA Women’s eight boat, the compelling direction was to focus on their contributions to a winning legacy rather their burning lungs and muscles.

What’s the parallel to selling?

In high-stakes B2B sales meetings, salespeople often have to band together with others — senior managers, subject matter experts, technology specialists, external partners — to win the sale.  For the salesperson, meeting sales goals and earning financial incentives are “clear” and “engaging.”  But can the same be said for his or her co-selling partners?  Without a compelling direction, the selling posse can look like one eager player surrounded by several indifferent ones.  And in a competitive pursuit, that could be enough to lose the deal.

So what would Dr. Hackman’s “compelling direction” look like in a sales meeting?  Think about a larger purpose that would serve as a rallying cry to your colleagues.  Consider the following three questions:

  1. What would winning this business mean to your organization?
  2. What would winning mean for your organization’s efforts to build a brand in a new geographical market, vertical or discipline?
  3. What would losing mean to your organization’s efforts?

A high-stakes meeting should feel like the stakes are, well, high.  And not just to you, but to everyone on your team, and to the client.  Setting and repeating a compelling direction can be the basis for turning your group into a team, and may just be the rallying cry your team needs to elevate and win.  “This is the…

From Competitive to Collaborative Negotiations

Two fighters enter a steel cage. Both hungry, strong and determined. The door is locked. Lights dim. Hearts race. The stakes are high – life or death.

As a salesperson, do your contract negotiations ever feel like this? You strap on the body armor, smear war stripes across your face and crush bricks into powder?

Some of these feelings are due to the physical reaction that comes in any high-pressure moment. Your body produces cortisol, and your brain sends a message to prepare for battle.

Leave the arena, however, and consider the following question: what makes a negotiation successful? Your mind probably goes to the phrase “win-win.” According to the Harvard Negotiation Project, a win-win negotiation is one where each party gains an outcome that is better than what the parties would do without an agreement. Both parties win, and the process feels collaborative, mutual, relationship-building. Hmmm…that doesn’t sound like a cage match.

How do you get from cage match to collaboration?

The first step is acknowledging that many negotiations are win-lose. And in my experience, at least, salespeople are typically on the losing side of these transactions. Win-lose outcomes are unsustainable in business relationships because at some point the salesperson (or his manager) realizes he is better off doing no deals, rather than unprofitable ones, with this counterparty. To recoup his losses before walking away, the salesperson might resort to reducing service levels and flexibility, excluding the client from special events or taking a more combative approach at the next negotiation.

Achieving win-win, or mutual gains, outcomes requires a different mindset – one that is centered around collaboration versus competition. Here are my top tips to prepare for success:

1.      Set clear relationship goals: visualize the relationship — after the negotiation.

2.      Know your value: being clear on what a client gains from working with you, versus others, improves confidence and poise.

3.      Bring alternatives: feeling that you must win a deal at any cost ensures that winning will indeed cost you. Realize the benefits of walking away, including more respect and less resentment; and more time to advance more profitable opportunities in your pipeline.

4.      Explore interests: engaging your questioning and listening skills enables you to separate each party’s interests from their positions, and creates opportunities to find other ways to gain a win for both parties.

5.      Seek trades: if you must give on any deal point, be sure to link that give to a get for you.

6.      Find your patience: simple behaviors such as committing to a good night’s sleep, reducing caffeine intake, increasing hydration, and breathing can enable you to hang in there when clients test your will, according to Sandy Dalis, CRAVE Nutrition.

Leaders, you can support your salespeople in the following ways: 1) test them to be sure they don’t open with their best offer, 2) role play with them so they feel prepared and practiced, 3) show compassion and support sourced from when you faced the same pressure, 4) check in to convey the importance of closing business on profitable and mutual gains terms, and 5) challenge them to see how much they can keep above their walkaway price.

Negotiation can often feel like a cage match – given your counterparty’s approach or your own mindset. Leverage the tips above to arrive at the negotiating table – neither to compete nor to cave – but rather to collaboratively find mutual gains outcomes.

Selling Low Makes Selling Hard

https://thesalesblog.com/2016/12/22/if-you-think-its-hard-to-sell-with-a-higher-price-try-selling-low-price/

In a recent post on http://www.thesalesblog.com, Anthony Iannarino (@iannarino) highlights a price trap that many salespeople fall into.  The temptation to go low on price may be connected to your belief that a lower price equals an easier win.

The fact is that price, while important, rarely makes it into the top criteria that drive purchasing decisions.

Anthony is right…think about what is conveyed about the value of your offer vs. others’ when you go low.  Consider what a low price says about you as a sales professional when you represent a quality organization with a quality product or service.

So, how do you avoid falling into this price trap?

  1. Recognize that price conveys the impression of value.  Don’t be so quick to give up that impression.
  2.  Sell yourself on the value you bring to your customer.  Believing you are worth more than others to a client puts you in a position of confidence and power when it’s time to talk price.
  3. Realize that highlighting price invites negotiation — maybe not a full-on discussion of terms, but a moment that requires skill and preparation.
  4. Optimize your client touch points by doing less talking and more learning about what matters to them.
  5. Convey value in words and ways that are meaningful to your client.  While your company’s offer may include unique features, leverage your customer knowledge by connecting those features to customer priorities and outcomes.  This reinforces value.

One of my early sales mentors was fond of saying that the factor that wins you a deal is the same one that will lose it.  When you lead with a low price, you attract price shoppers.  And trying to build a business with these customers will fail for one of two reasons:  1-they will eventually leave you for an even lower price, or 2-at some point you will be forced to raise prices (refer back to reason #1) or terminate the contract because it’s unprofitable.

Selling value is not easy.  Value is what you choose in the company you work for, and what customers want in the partners they choose.  I’ll gladly accept the challenge of selling high over gaining a reputation as the cheap alternative!