E-Tip #386: 5 Tips for Establishing Sales Credibility

Establishing your sales credibility from the beginning of the sales process is an important component in the sales process. Sure, you can discuss how your product or service will benefit a potential buyer, but there is a lot more that needs to be done in order to make the sale successful. Below are 5 tips for establishing better sales credibility with a client, prospect or referral source.


Tip #1: Ask Questions and Listen Attentively To Their Answer - When you are asking a question during the sales process, look the person in the eye when they answer it. Stay focused and do not get distracted by art on the wall, people walking by or the view out of the window. The buyer may negatively perceive your distraction and think that you do not have their best interest in mind. While speaking with the potential buyer, it is important to listen to their company's needs and wants.


Tips #2: Focus On The Benefits - Focus on the advantages your organization can offer and on how they will directly benefit their company. Be as specific as possible, and tie the benefits back to the company's needs and wants. Steer away from the temptation to talk about features with no benefits.


Tip #3: Tell Success Stories - Give results on how other clients have benefited from your work. Use visual aids like charts when possible and even testimonial letters. You may even want to call a current client while at the prospect's office in order to give them some immediate feedback on your company's record of accomplishments.


Tip #4: Relate Success Back To Their Organization - Suggest to the potential buyer that similar benefits can also be achieved within their organization if they take advantage of your offer. Show them what the ROI will be on the project by using a model with financial data they supply to you.


Tip #5: Ask For The Sale - Asking for the sale can be difficult for some sales people; but when you do, it is a great time to discover and overcome any objections the buyer may have. Keep your questions open-ended to avoid a "no" response. Be prepared to motivate the buyer by offering something to overcome an objection (discounted price, addition services, etc.). Know when to back-off the sales pressure, so you do not lose your credibility.


Executive Summary: Remember, your sales credibility can make or break a sale. It is important to keep your focus on your target audience by keeping your presentation tailored to the needs of their company, highlighting how your business can benefit them and establishing trust. Also, do not be afraid to brag about your company's accomplishments, but be sure to have an outside source, like a current client, validate your claims. Finally, ask for the sale, and address/solve any barriers or objections that the buyer may have. View yourself the way others see you when you make your presentations. Ask yourself, "Would I buy from me?" Hopefully, your answer is an astounding "yes."

For more information visit our website! 

E-Tip #385: 6 Tips for More Productive and Successful Business Meetings

Business meetings can be a great way to get your team on board with their goals and to hear about new ideas; however, these meetings can waste everyone's time if they are not properly managed. To help you have more successful and productive business meetings, we have listed below 6 tips for getting the most out of your meetings. They are:

Tip #1: Plan Ahead And Be Prepared - Before you head out to your next meeting, prepare the questions or issues that you would like to have addressed, and think about what you would like to accomplish during the meeting. Also, it is helpful if you send a quick email asking everyone involved to go through the same process.

Tip #2: Open Your Mind To Someone Else's Ideas - Go into a meeting with the attitude that you will learn something new. Fully listen to others before speaking. Instead of interrupting, write your thoughts down and address them at an appropriate time. Be careful not to criticize other people for their thoughts and ideas.

Tip #3: Take Good Notes - Taking good notes will help you organize what you are learning as well as make a permanent record of what you have learned for future reference. They are helpful to use for summarizing at the end of the meeting, too (see tip #6 below).

Tip #4: Ask Questions To Clarify Action Items - Do not hesitate to ask questions to clarify what has been said or agreed upon. Be sure to keep your questions clear and concise, so everyone can be on board with both the question and answer(s).

Tip #5: Offer Ideas and Solutions - Offering ideas and possible solutions will make you feel more involved in the meeting - it is also a great way to help prevent your mind from wondering. If you have an idea that you feel is important, share it! Sharing often sparks new ideas and adds energy to a meeting.

Tip #6: Summarize Action Items - When the meeting is finished, review your notes openly as a way to not only reinforce what was discussed in the meeting, but to also assign action items and due dates to the project. If your notes are all over the place, rewrite and organize them. This is a great way to not forget important details.

Executive Summary: Successful meetings are those which are properly managed. Make sure you plan before the meeting starts. Once the meeting has started, be sure to stay open-minded, and make sure you understand what is being said. Also, be an active participant by offering your own suggestions and ideas. Finally, take good notes, because they can serve as reference during and after the meeting, and they will help you wrap up everything that was addressed. Use these tips to make the most out of your meetings, as successful meetings lead to successful organizations.

E-Tip #384: Tips on Surviving The Workplace

Are you really ready to handle the unexpected during the workday? Many people say yes, but most are not truly ready. Surviving the workday requires resilience. You need to be physically, mentally and emotionally strong to handle the unexpected.

We all know that our resilience-factor goes down when we are over-worked and over-stressed. But how do you prepare yourself for the unexpected and improve your resilience? To survive, we all need to rejuvenate, revitalize and recharge ourselves in order to reach our full potential.

6 Tips To Help You Achieve And Maintain Resilience:

Tip #1: Take Breaks During The Workday - Try to take breaks as often as possible, even if it is just for five minutes. Listen to some music you enjoy or get up from your desk and stretch a little. Step outside for some fresh air and get the blood flowing through your legs. Take a brisk walk with an iPod.

Tip #2: Schedule A Vacation - Soon - Taking a vacation may seem hard to do, but if you plan one well in advance, you are more likely to take it. Do not use the excuse that you are just "too busy" to get away.

Tip #3: Identify People That Like To Sabotage Others - Avoid people that like to sabotage others. Saboteurs can be co-workers, friends or family members who will unknowingly drain you with their negativity. Also, try to avoid people who are too demanding of your time and energy.

Tip #4: Focus On A Positive Goal - The work you dislike is the work you are more likely to neglect. Focus on the positives for completing the work and the rewards it may bring.

Tip #5: Do Not Be Afraid To Say "No" To Someone - If you cannot possibly take on any more work, then politely say "no" to the project. Remember, if you say "yes" to everything, you are not going to have the time or the energy to do your best, and you run the risk of burnout.

Tip #6: Eat Smart And Exercise Often - Much easier said than done! The time when we are the most stressed is precisely when we need proper nutrition, so think ahead, plan your meals and schedule a time to exercise. Avoid stocking your desk drawer with junk food, and avoid putting off exercise until tomorrow.

Executive Summary: All these tips are simple to follow. Your physical, mental and emotional health are directly related to how well you handle stressful situation. Focusing on improving and maintaining these aspects of your health, will lower your stress and enable you to overcome whatever life throws at you when you least expect it.

For more information, visit our website!

E-Tip #383: 13 Telephone Tips To Increase Your Sales

Greetings!

With 2011 behind us, many salespeople want to increase their sales. Unfortunately, they typically don't know where to start or, for that matter, what they need to do.

Telephone Skills Should Be A Salesperson's #1 Area Of Focus In 2012.

When most salespeople initiate their first verbal communication with a prospect, it is typically done over the phone. That said, don't you think this should be an area of focus for your sales training? If your answer is yes, then you might not only find today's e-tip of particular interest, but also one that can make you and/or your business more money.

13 Telephone Training Tips For ALL Salespeople To Review.

1. Avoid All Background Noises: When making your calls, always keep background noises to a minimum. If you are a sales leader, make sure your salespeople have a quiet "sanctuary" to use at your office - this will help them tremendously when making their prospecting calls. If not, your salespeople will avoid making calls altogether.

2. Avoid Negotiations On The Phone: If you sell in a local or regional area, drive to the person's location - it will be to your advantage due to being able to judge his/her body language.

3. Avoid The "Price" Discussion On Your Initial Call: A lot of times people will ask you about "the prices you charge" on the initial call, especially if you are selling a commodity product or service. The best way to handle this is to give them a low and high price for what you are selling and then immediately explain that so much depends on X, Y and Z. Now the key to this technique is to immediately ask the prospect to take the next step in the sales process, i.e., face-to-face meeting or webinar.

4. Don't Look At Your Cell Phone Or e-Mail: It is easy to get distracted by our cell phones or e-mails; therefore, turn them completely off when making your calls. If not, you run the risk of being distracted or projecting the wrong impression by not giving someone your undivided attention.

5. Keep The Person's Name/Company Name In Front Of You: If you are making a lot of phone calls at one sitting, it can be confusing at times. To help you avoid using the person's wrong name or company name, use a CRM program like ACT! and have the person's name in front of you. Not only is it embarrassing to use the person's wrong name, but it also projects a poor image of you; two things you want to avoid.

6. Know Your Objective When Calling Someone: When making a call to someone, you need to have an objective, i.e., appointment or a webinar. No matter what, keep this in mind as you make your call. Doing so will not only keep you focused, but also keep your eyes on what you are really saying.

7. Paint a Mental Picture: It will help you tremendously when you are able to create a mental picture for a person.

8. Think Everyone Who Answers The Phone Is An Owner: The person who answers the phone is not just the receptionist. It could be the owner or a decision maker for buying what you sell. In fact, it is always good practice to assume this on every phone call.

9. Use A Headset: High performance telephone users know the value of a headset, because it allows them to 1.) Take notes using both hands (great when using a CRM tool), 2.) Talk with their hands, 3.) Walk around or 4.) Make changes to a document or 5.) Send off an e-mail to the person you are talking with.

10. Use A High Quality Connection: There is nothing worse than being on a poor connection with someone. This is why you should be making your calls on a wired line or on a cell phone that has a "5 bar" connection.

11. Use Open-ended Questions: Asking someone an open-ended question will help keep the conversation flowing versus a closed question. Case in point: Are you happy with your present source of X, Y or Z? or If you could wave a magic wand over your present source of X, Y or Z, what would you change? See the difference in potential answers!

12. Use The Person's Name In A Sentence: People like hearing their name, so use it. In most phone calls, experts all agree to use the person's name three times.

13. Your Tone Matters: The tone of your voice matters -- and more than you think. If your tone lacks enthusiasm, people know this and will react negatively.

Executive Summary: The key to your phone success hinges on many elements - elements that can be learned. So if you are the sales leader, spend some time just listening to your sales team make their calls. Not only is this a great exercise for you and your salespeople, but also one that keeps everyone focused on great phone skills. Because, if you don't have great phone skills, you run the risk of poor sales production. Don't believe me; go and listen to your top producer on the phone, and then listen to your less successful salespeople.

For more information, visit our website!

E-Tip # 382: 6 Tips For Motivating Employees

Greetings!

Most managers have a misconception that money is the #1 motivator for employees. According to many psychologists who study work behavior, there are many things that motivate people to act; however, as one desire is satisfied, another one takes its place. Money and job security are two of the primary things people need, but there are more important needs that all people crave. These include love and esteem, which can be achieved by feeling recognized and appreciated.

One of the best ways to provide recognition and appreciation is through the use of rewards. To make rewards work for your business, you must first follow certain basic guidelines. Below, you can find tips for following these guidelines:

6 Tips For Motivating Employees With A Reward Program

Tip #1: Design Rewards Based On People's Specific Needs - When designing a reward program(s), take into account individual personalities and preferences. Once you design an appropriate award, make sure it also addresses the group's overall needs. For the most part, it does not have to be an expensive reward. For example, many people will be motivated, or go the extra mile, in order to have their name placed on a plaque.

Tip #2: Give A Reward For Attaining The End-Result - Rewards should be based on what was actually accomplished - but setting the bar too low or too high will have a negative effect on your team's performance, so plan accordingly. It could be a stretch, although attainable, to give people something to strive towards.

Tip #3: Give Rewards When Goals Are Achieved - Rewards and recognition should be given out immediately after the desired behavior is achieved. If you delay the reward or recognition long after the achievement is met, it does little to motivate an employee.

Tip #4: Involve Your Employees In The Design Process - Make employees part of the design process - especially with reward programs that directly effect them. People gain a sense of belonging and importance when they have input on the type of goals they should be achieving.

Tip #5: Have Regular Meetings To Keep Everyone Up-To-Date - If you have regularly scheduled meetings to keep all employees informed about the company's goals, it will help everyone feel as though they belong to the organization. Plus, it keeps them informed on the overall progress they are making - which is a great long-term motivator. This is a wonderful time to give recognition for any achievements, whether or not those accomplishments are connected to a reward program.

Tip #6: Listen To Your Employees - It is no secret that the #1 way to improve your organization is to ask your employees how to get things done better, faster and cheaper - your employees have the best insight on improving the operations, since they deal with the systems/processes on a daily basis. To keep your employees involved with the refining of your business, make a point to give full credit (as well as reward them with something tangible) to the ones who were directly involved with the idea.

Executive Summary: A reward program is a great way to motivate your employees. When creating such program, it is important to tailor it around your employees' specific needs and interests. Also, involve your employees in the crafting of the program, and meet with them regularly to keep them updated of the intended goals that warrant the rewards. Another important aspect of a rewards program is instant gratification; that is, be sure to not delay the distribution of rewards.

These tips are a great way to get the most productivity out of employees, while at the same time increasing morale.

For more information, visit our website!

E-Tip # 381: Top 5 Mistakes Made When Hiring A Leader

Greetings!

What is the most common mistake employers make when hiring or promoting supervisors, managers and executives? It is simple: Employers commonly fail to define the roles most critical for successful performance.

So how can an organization create a better track record of success in talent management? By avoiding the most common mistakes and setting up processes that ensure a systematic approach to screening, hiring, and clarifying expectations for those in new positions, managers can implement more successful talent management recruitment.

Top 5 Mistakes Made When Hiring A Leader For An Organization

Below Are The 5 Most Critical Hiring Mistakes Employers Make:

Mistake #1: Inadequately Defining And Evaluating Roles - It is critical for a new employee to have a defined role with clear, measurable performance standards. In addition, your company needs to have a way to evaluate their performance in order to measure the success of the employee. It proves to be more valuable to meet with employees often - at least quarterly to offer feedback on their performance as oppose to the typical once a year evaluation.

Mistake #2: Insufficient Grooming Of High-Potential Employees - In order to create a succession of solid employees, it is important to offer coaching, mentoring and training programs to the next wave of leaders. By design, this will not only help existing staff members with a solid career path to travel, but it will also give potential employees a good understanding of your company's policies, procedures and work philosophy.

Mistake #3: Using Overly Subjective Criteria And Unreliable Assessment Tools - We all know that assessing how well an employee will do in the position before they are hired will never be 100% accurate. Many companies rely on personality tests and assessments to help make a final decision. Unfortunately, unless these tests have been through an extensive validation process, using them can be a poor indicators of how successful the new hire will actually perform in the position. Use a behavioral interviewing process; then trust your gut, your team's instincts, and reference check potential employees, adding these behavioral processes along with their test results, so you can make the best decision possible.

Mistake #4: Focusing Too Much On The Basic Requirements Of The Job(s) - Focusing only on managerial and technical skills for the job and not emphasizing less apparent talents, such as morale building or team building skills, can lead to selecting the wrong candidate. Look at the total person who you are considering hiring and their level of emotional intelligence as well as the impact they will have on the team dynamics.

Mistake #5: Giving Inadequate Consideration To People From Outside The Organization - There is nothing wrong with looking toward your current employee workforce to fill a leadership position. As a matter of fact, there are a number of advantages to hiring someone from within the organization. Despite this, many organizations fail to recognize how "new blood" in any organization can bring success. New employees can bring fresh experiences, ideas, energy and, yes, better results.

Executive Summary: When recruiting an employee for a leadership position, one needs to make sure that the roles and how they will be evaluated are clearly defined. It is also important to coach, mentor and train current employees, for they have the potential to step into leadership roles. Yet, while hiring from within an organization can be beneficial, it is also important to not dismiss the option of hiring from outside of the organization. Also, when assessing the success of an employee prior to offering him/her the position, it is important to implement a variety of assessment mediums and to consider less apparent talents, like morale and team building skills.

For more information, visit our website!

Tip #380: 10 Tips To Help You Become A Better Leader

Greetings!

When a business hits some turbulence, an executive's instinct is sometimes to focus on greater efficiency and productivity by tightening control. But the truth is that giving up authority and giving employees independence can improve innovation and success, even during crises. With that in mind, we have put together a number of tips to help you or someone you know become a better leader in the coming months.

10 Tips To Help You Maximize Your Leadership Skills.

Tip #1: Build Better Relationships -- Great leaders know the value of relationships. They know who people are, what is important to them, and what motivates them. Knowing this will help you understand their goals and how you can support them. When you help people, they will care about you and your goals in return.

Tip #2: Get To Know People On A Personal Level -- If you take the time to get to know people you like, they will no doubt come to like you, too. Furthermore, it is always nice to ask people about their families and interests. You will also find that, if people like you, they will be more open to helping you and taking the extra time to get things done.

Tip #3: Develop A Mentoring Program -- Great leaders know that mentoring someone will not only help develop that person's career, but also help leaders refine their skills.

Tip #4: Be Upbeat And Stay Positive -- In the business world, it is easy to criticize what everyone does and to be negative, especially in this economy. As a leader, you need to find ways to stay positive and find ways to do things better, faster and more effectively. It is important to remember that people are not perfect, and while you do need to address poor performance, great leaders know the value of acknowledging when people are doing things correctly. Doing so builds a positive work environment that helps make people feel appreciated.

Tip #5: Know Your Strengths -- We each have strengths and weaknesses. That being said, you will find that it is better to spend time working on your strengths rather than your weaknesses. By doing this, you will find that you can rise to the expert level sooner than you would be by working on your weaknesses. Bottom line: Know what you are good at and keep at it.

Tip #6: Surround Yourself With People Who Complement You -- As I mentioned above, we all have strengths and weaknesses. Great leaders know what their weaknesses are and find people who support their shortcomings. Not because they need to cover their weaknesses, but because they know the benefit of having a strong team -- and when the team wins, everyone wins.

Tip #7: Look At Your Career, Not So Much At The Company -- Great leaders know that they are the ones who will create their own career paths; therefore, they will work on making it happen. And once they become an expert in their selected careers, they will find that they can go almost anywhere they want to go.

Tip #8: Respect Your People -- If you do not like to be around people, let alone lead people, then do not take a leadership position. Conversely, if you do want to be in a leadership position, start building relationships with people by respecting what they do. Additionally, it is important that a great leader never misses an opportunity to learn more about the people behind them. Great leaders never skip an employee's birthday gathering or a holiday party because they are too busy -- they know that work will always be there.

Tip #9: Balance Your Work And Personal Life -- Great leaders are often times driven people, but they know the key to success is to balance work and family. Life is too short for you to live at your job. One day, when work is winding down, you will think to yourself I wished I had done things differently. Unfortunately, it will be too late to do so. Great leaders set career boundaries and know when to spend more time with family and friends. Doing this will make stronger leaders.

Tip #10: Evolve Into Someone You Aspire To Become -- Great leaders know that they are individuals and that, as an individual, they are not required to be like everyone else. They also know that they can take the path less traveled, as the risk is sometimes greater than the reward. To be a great leader, one must become a person of great interest who has great skills.

Executive Summary: When it comes time to lead people, great leaders know the power of information, information they gather from listening to people they respect. They also know what to say, how to say it and when to say it so that during tough times things get done.

For more information, check out our website!

Tip #379: 9 Tips for Getting More People To Open Your e-Mail Campaigns

E-Mail marketing is a cost-effective way to proactively communicate to your database of clients, past clients, prospects and referral sources. And because it is so cost-effective and easy to use, e-mail marketing campaigns have been flooding everyone's inbox - including yours and mine.

Most People Ignore And Delete These e-Mails From Their Inbox

When sending out mass e-mail marketing campaign (through your own server or a third party service like Constant Contact), you need to know that it is easy for someone to not only delete your e-mail but also ignore it. In fact, the national open rate published by Constant Contact is 13%. That means that 87% of the people who receive an e-mail are not opening it. Not only that, it is easy for people who use generic e-mail services like AOL.com, yahoo.com, etc., to click on their "spam" button. And once enough people label your e-mail as "spam," services like Constant Contact will cancel your account.

If you are interested in maximizing the open rate for your e-mail marketing campaigns, we have collected 9 tips and suggestions for you.

9 Tips For Getting More People To Open (And Read) Your Next e-Mail Campaign.

1. Spend Time Writing Your Subject Line: Your subject line is actually your campaign's headline. And as all great copywriters know, a great headline represents 80% of a campaign's success. With that said, we recommend using emotionally driven headlines like: "5 Sure-Fire Ways To Close Your Coldest Prospect" versus "January e-Newsletter." Another one would be: "7 Must-Have Apps For Salespeople (Inc. Magazine Article)" versus "Article By Inc. Magazine."

2. Know Your Subject Line's Length: Excessively long subject lines will also play a role, because long subject lines can distract a reader from opening your e-mail. But more importantly, you need to be cognizant of how e-mail comes across on a smartphone, because you will find that most smartphones will only display about 27 characters - so make sure that the most compelling part of your message is visible first.

3. Pay Special Attention To Your Frequency And Recency Rate: This is an area that you need to spend time on. The reason being is that too many e-mail campaigns in too short of a time span (recency) can do more harm than good. How can you determine the frequency of a campaign? Ask yourself this one question: Is your e-mail list an "opt in" list or one from which you just gathered names from business cards, websites and chamber/association lists. If it is the latter, you need to tread lightly.

4. Make Your Message Easy To Read: It is one thing to get your e-mail opened; it is another to have it read. With that said, make sure that you write your messages in short sentences and paragraphs as well as add short and snappy headlines to introduce new paragraphs. It is also recommended that you use bullets/numbers in order to make it easier for people to read.

5. Be Better At Writing Copy: Compelling marketing messages will not only motivate people to take action, but more importantly, get people to want to read your e-mail campaigns. To help you become a better writer, we recommend buying both of these books: Tested Advertising Methods Fifth Edition by John Caples and The Copywriter's Handbook: A Step-by-Step Guide To Writing Copy That Sells by Robert W. Bly. Also, keep this in mind when writing copy:

1. Your subject line is the headline for your campaign.

2. Your content should help/educate people about their job or what your organization does that makes it unique.

c. Use sub-headlines in the body of your campaign to make it easy for people to skim its content.

d. Always provide readers with a risk-free invitational offer to help them take the next step in the buying process.

6. Check Your Spelling And Grammar Before Pressing The Send Button: People reading your e-mail campaigns will catch your spelling and grammar errors. It is a fact of life, so get used to it. Although most people strive for writing perfection, mistakes do happen. To help ensure that your campaign is close to perfect, we highly recommend cutting and pasting your final copy (once it is in the final format) into a Microsoft Word document, and run your spelling and grammar checks. The results will shock you. But be careful still, because Microsoft Word does not catch all grammar and spelling mistakes.

7. Pay Special Attention To The Name Used In The Sent And Reply Field: People will open your e-mail if they know you and/or your company. This is why we recommend, in some cases, that a person's name is used in the 'from' field versus a company name.

8. Avoid Spam Words In Your Subject Line:The majority of e-mail servers use spam detection software to automatically filter (meaning block) e-mails that contains certain words and symbols in their subject line, words like free, stock, eBay, password, mortgage, exclamation points (see below), etc.

Click here to access 100 words that will trigger spam software

9. Don't Use An Exclamation Point In Your Subject Line: It is good practice to not use an exclamation point at the end of your subject lines. In fact, Google bans all types of punctuation from its AdWords ads.

Executive Summary: Outside of the list you are e-mailing to, 60% of your open rate's success is directly related to 1.) Who the e-mail is coming from and 2.) The subject line used. As a good reminder, do not be clever or misleading in your subject line. Additionally, just concentrate on sending your target audience relevant information that can be easily read - and don't forget a call to action by including a risk-free invitational offer.

For more information, visit our website!

Tip #378: The BANT Formula (Developed by IBM)

No matter what you sell, you need to build a relationship with a prospect during the sales cycle. And just as important as that is, you first need to determine which prospects have a greater probability of closing (immediate buyers versus tire kickers). If not, you can waste countless hours talking with prospects that have a low probability of closing.

Originally developed by IBM, the BANT formula is a great tool for sales leaders and salespeople alike. Why? Because it can help them quickly determine if a prospective buyer has the budget, authority, need and time when buying what you sell.

What Is The BANT Acronym?

B = Budget: Determines if there is a budget for what you are selling.
A = Authority: Determines if the person you are talking to has the authority to make a purchasing decision.
N = Need(s): Determines if there is a business need for what you are selling.
T = Time: Determines the timeframe for implementation.

Why Is The BANT Formula Such An Excellent Tool For Salespeople And Sales Leaders?

The BANT formula is an excellent tool for salespeople and sales leaders to use as it helps them quantify the subjective sales process (salespeople are notorious for chasing prospects that have little to no chance of being closed). More importantly, sales leaders now have a simple tool to help a salesperson manage a new sales opportunity.

One Key Component Of The BANT Formula:

Determining if a prospect has the budget for what you are selling is a critical step in the closing process. Without it, a prospect will always be thinking, "That would be a nice thing to have - if I only could afford it." Specifically, the budgeting process typically falls into three categories:

1. Does a prospect have the funds in the company's budget?
2. If a decision maker(s) does not have the budget; can they find the money?
3. If they don't have the funds, will it be available in the future (annual budgets are typical in larger companies)?

Although the "budget issue" is typically one of the most difficult parts to discover, it is one of the most vital parts of the BANT formula. Why? Because 1.) It helps a salesperson to determine if a prospect has the monies to fund the sale and 2.) It helps a salesperson to properly complete their sales pipeline report(s), AKA, a sales forecast.

The Key To The BANT Formula Is Asking The Right Questions.

There are many elements to a successful sales call, but the two most important ones are 1.) Being in control of the sales call and 2.) Asking targeted and specific questions. Seasoned salespeople and sales leaders alike know that it is best to avoid a sales pitch early in the sales cycle; instead, they know the best approach is to take a step back and ask some open-ended probing questions to ensure that there is a good fit and need for what they are selling. Oh, by the way, if you ONLY talk about the features and benefits of what you are selling, a prospect will quickly tune you out.

Know More Details (By Asking The Right Questions).

To help you determine if a prospect is actively looking to buy what you sell, we recommend taking this multi-step process.

Step 1: Determine why the prospect is taking the time from their day to talk with you.
Step 2: Determine what it would mean to them financially if they solved their problem (most people make buying decisions (in a B2B sale) if your product/services can make or save them money).
Step 3: Determine what the prospect's decision-making requirements are when buying what you are selling.
Step 4: Ask the prospect how their company makes buying decisions as well as this person's role in the decision making process.
Step 5: Determine if the person you are talking to can make the final decision when buying what you are selling.

Executive Summary: Ultimately, you need to start the relationship building process with a prospect by asking the right case-building questions - ones that will help you fully understand a prospect's needs, problems, frustrations and desires. Once this is done, you can segue to the budget discussion without asking if a prospect has the money to buy what you sell, putting you in a better position to forecast a sales opportunity.

For more information, please visit our website.

Tip #377: 4 Quick Tips To Help Lead In Tough Times

The phrase "changing times" conjures up a wide assortment of meanings in today's world. Whether you are facing tight cash issues, adverse government regulations, loss of a key staff member or losing a top client, you need to take a step back and look at what can be done to overcome issues like these.

To help you lead during tough times, below, we have compiled four leadership tips in order to help you focus on the key issues that are important to successful managers during tough times.

Click here for another great article about leading during turbulent times at Salary.com

4 Tips For Leading During Tough Times Are:

Leadership Tip #1: Learn How To Navigate -- Anyone can maintain course in calm waters; however, the biggest and most noticeable difference is how a leader performs during tough times as oppose to calm times. Take a step back and develop a vision by seeing what could be done to change things or what could be looming around the corner. Do this for it will help you to be better prepared should something bad happen.

Leadership Tip #2: Avoid Being Just A Manager -- The difference between leaders and managers is that leaders are able to motivate everyone in their organization whereas managers tend to manage the "status quo" or the current process. Should you find that the "status-quo" be the norm in your organization, don't just follow along. We suggest looking into some type of leadership course, buying books or visiting the local library for books on leadership. It would also be to your advantage to see what other leaders are doing by joining network groups or industry associations.

Leadership Tip #3: Work On Creating A Positive Change -- If you truly lead, you will, by default, cause positive changes in your organization. And this change is important, because it breathes life back into an organization. To help you create a positive change in your organization, look for some high-profile leaders and professional coaches in your area or industry, and see what they are doing. To help you get a new perspective on things, you should also consider a subscription to business magazines, like Harvard Business Review, Entrepreneur or SUCCESS Magazine.

Leadership Tip #4: Talk With Your Team Regularly -- Picture yourself on an airplane that is hitting a lot of turbulence. Wouldn't you want to know what is going on and how long it will last? Better yet, what is the captain doing to find a smoother altitude? The same goes for your employees when your business starts to hit tough times.

Executive Summary: While you cannot predict all of the events that will affect your business, you can employ the above four strategies to navigate your way through tough times. Leaders who invest time in communicating with their staff, reviewing alternate strategies and staying close to key clients are implementing some of the best practices for leading in both good and bad times.

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