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  • Added for You - Seven Critical Qualifying Questions

    Hourly Rates - No Thanks
    When was the last time you gave a passing thought to your pricing? It’s no secret that how you charge for your services can either make or break you. It can mean the difference between a mediocre and a successful business. In my experience, most people don’t spend enough time thinking strategically about what pricing strategy they should use.The majority of people in service businesses - and especially people who work independently - establish an hourly rate. They use a process called “reverse competition” to determine what their rate should be. This involves taking a look at what your geographical competitors are charging, and deciding where in the range you want to fit on the spectru
    worse, he or she may have wasted additional valuable resources such as sales and technical support.

    Teach Early Qualification

    It is reasonable, therefore, for the sales manager to require and verify that the seven critical qualifying questions are answered early in every sales cycle.

    By all means, this should be done before your company commits sales support or technical personnel to the sales effort. This is especially important in longer sales cycles or more expensive prod

    Does Your Small Business Need A Facelift?
    How you look affects your self esteem and how your business looks affects your bottom line. But what if you need to improve your business image but have minimal staff or budget to support those changes?Not to worry. There are some simple tips you can apply that cost nothing or next-to-nothing and that can get almost immediate results. So where do you start? First, you need a plan.Plan Your BrandA facelift, also known as an *identity* plan deserves detailed thought because it involves more than your logo and letterhead. Having a plan assures that everything you put before a potential customer carries a unified image so that the customer can identify the pr
    Training your salespeople to not waste time working unqualified accounts, or building relationships with the wrong people in qualified companies is imperative to the long the term success of our sales team and your company.

    By understanding your salespeople's natural fear of qualifying, you can better coach them to ask the seven critical qualifying questions early in the sales cycle. Their productivity will improve, and you will achieve more sales in less time.

    Why Don't They Qualify?

    There are two reasons why even veteran sales pros lapse into working unqualified accounts. The first is tactical. Salespeople, who typically have a highly political style, don't want to offend a prospect by asking questions about decision making, spending authority, and budgets too early in the sales process. They want to make friends first.

    The second and primary reason is psychological. It is part of the typical salesperson's psychological makeup to want to be liked. And most salespeople are very likable. Unfortunately, it is more comfortable in the short run for the salesperson to build a relationship with the wrong person than to ask questions that may alienate the prospect.

    Succumbing to Temptation

    The nature of the sales job reinforces this fear of early qualification. Because salespeople face a lot of rejection, they are vulnerable to the song of praise and positive feedback from their prospects.

    For the prospect, it can be almost like having a congenial (and free!) employee doing problem analysis and preparing the way for the prospect's solution. For the salesperson, it provides frequent strokes. And because the relationship is good, it is natural for the salesperson to assume that he or she will eventually make the sale.

    Of course, if the prospect is not legitimately qualified, it is only a matter of time before both parties realize that the salesperson's solution is not a fit. But by then the salesperson has wasted valuable time. Even worse, he or she may have wasted additional valuable resources such as sales and technical support.

    Teach Early Qualification

    It is reasonable, therefore, for the sales manager to require and verify that the seven critical qualifying questions are answered early in every sales cycle.

    By all means, this should be done before your company commits sales support or technical personnel to the sales effort. This is especially important in longer sales cycles or more expensive prod

    Build This Habit and Watch It Build You - Financially
    Industry pros, magazines, and financial television shows trip over themselves highlighting the bold and new over the tried and true. But, one of the most powerful things that anyone can do to improve their finances and increase their financial savvy is also one of the oldest, most widely known and simplest financial disciplines.It's not sexy. It's not unique. It's not exciting. Yet, it's one of the most effective things you can do: Keep Track of Every Penny that Enters and Leaves your Life.Whether you keep track with a pencil and a pocket notebook, a PDA, create a spreadsheet, or use one of several software packages, keeping track of every penny coming and going will transform y
    /b>

    There are two reasons why even veteran sales pros lapse into working unqualified accounts. The first is tactical. Salespeople, who typically have a highly political style, don't want to offend a prospect by asking questions about decision making, spending authority, and budgets too early in the sales process. They want to make friends first.

    The second and primary reason is psychological. It is part of the typical salesperson's psychological makeup to want to be liked. And most salespeople are very likable. Unfortunately, it is more comfortable in the short run for the salesperson to build a relationship with the wrong person than to ask questions that may alienate the prospect.

    Succumbing to Temptation

    The nature of the sales job reinforces this fear of early qualification. Because salespeople face a lot of rejection, they are vulnerable to the song of praise and positive feedback from their prospects.

    For the prospect, it can be almost like having a congenial (and free!) employee doing problem analysis and preparing the way for the prospect's solution. For the salesperson, it provides frequent strokes. And because the relationship is good, it is natural for the salesperson to assume that he or she will eventually make the sale.

    Of course, if the prospect is not legitimately qualified, it is only a matter of time before both parties realize that the salesperson's solution is not a fit. But by then the salesperson has wasted valuable time. Even worse, he or she may have wasted additional valuable resources such as sales and technical support.

    Teach Early Qualification

    It is reasonable, therefore, for the sales manager to require and verify that the seven critical qualifying questions are answered early in every sales cycle.

    By all means, this should be done before your company commits sales support or technical personnel to the sales effort. This is especially important in longer sales cycles or more expensive prod

    Warning: The Dangerous Mindset That May Hinder Your Career
    Keen to advance within your career? Then you're probably aware that there are a plethora of programs and courses that promise to help you with your career development. Well, I'm the first to suggest that you closely evaluate the cost-benefit of any such offerings... but, in general, I do think investing in your education is important.Taking courses or enrolling in college programs notwithstanding, I sincerely think that continuing your informal education should be a core part of your personal career development. That means reading books, newsletters, journals and other publications, attending seminars and workshops, participating in mastermind groups... and even going onto the Internet
    eople are very likable. Unfortunately, it is more comfortable in the short run for the salesperson to build a relationship with the wrong person than to ask questions that may alienate the prospect.

    Succumbing to Temptation

    The nature of the sales job reinforces this fear of early qualification. Because salespeople face a lot of rejection, they are vulnerable to the song of praise and positive feedback from their prospects.

    For the prospect, it can be almost like having a congenial (and free!) employee doing problem analysis and preparing the way for the prospect's solution. For the salesperson, it provides frequent strokes. And because the relationship is good, it is natural for the salesperson to assume that he or she will eventually make the sale.

    Of course, if the prospect is not legitimately qualified, it is only a matter of time before both parties realize that the salesperson's solution is not a fit. But by then the salesperson has wasted valuable time. Even worse, he or she may have wasted additional valuable resources such as sales and technical support.

    Teach Early Qualification

    It is reasonable, therefore, for the sales manager to require and verify that the seven critical qualifying questions are answered early in every sales cycle.

    By all means, this should be done before your company commits sales support or technical personnel to the sales effort. This is especially important in longer sales cycles or more expensive prod

    Price Perception - How to Focus on Value Not on Price
    1. Price is Elastic.Believe it or not: Only a small percentage of buyers (of any product) base their buying decisions solely on getting the lowest price. If most did, we'd all be driving around in the cheapest cars on the market. Needless to say, we don't!How about the business owner (consultant) who raised the fee for his service from ? 220 to ? 2, 295 in one leap - and the same percentage of prospects continued to buy. They "stretched" with the price. If you had an identical product in three different price perceived retail locations (such as say Harrods, BHS and a Car Boot Sale), then you would see a marked difference in what people were prepared to pay for t
    genial (and free!) employee doing problem analysis and preparing the way for the prospect's solution. For the salesperson, it provides frequent strokes. And because the relationship is good, it is natural for the salesperson to assume that he or she will eventually make the sale.

    Of course, if the prospect is not legitimately qualified, it is only a matter of time before both parties realize that the salesperson's solution is not a fit. But by then the salesperson has wasted valuable time. Even worse, he or she may have wasted additional valuable resources such as sales and technical support.

    Teach Early Qualification

    It is reasonable, therefore, for the sales manager to require and verify that the seven critical qualifying questions are answered early in every sales cycle.

    By all means, this should be done before your company commits sales support or technical personnel to the sales effort. This is especially important in longer sales cycles or more expensive prod

    Accounts Receivable
    A company offers products and/or services to its customers to generate sales. The transaction takes place when the customer buys the goods and/or services at the price and conditions agreeable to both parties. Generally the transaction is completed when the customer pays after taking delivery of goods and/or services.However in cases where there is a long-standing relationship between the company and a customer, the buyer may make payment at a future date. This also takes place when the two parties have a payment agreement.The invoice as presented to the buyer and that transaction, which is recorded, is referred to as accounts receivable. When the customer pays his invoice, his
    worse, he or she may have wasted additional valuable resources such as sales and technical support.

    Teach Early Qualification

    It is reasonable, therefore, for the sales manager to require and verify that the seven critical qualifying questions are answered early in every sales cycle.

    By all means, this should be done before your company commits sales support or technical personnel to the sales effort. This is especially important in longer sales cycles or more expensive products.

    A good time to do this is during the forecast and review sessions that most managers schedule on a regular basis.

    During these meetings, confirm that each salesperson is asking the "W" questions (what, why, when, and who) to qualify both the prospect company and the individuals within that company.

    What Will They Do and Why?

    1. What need(s) does the prospect have that can be met by your solution? Can your salesperson clearly articulate those needs?

    2. Why would the prospect be willing to spend x dollars for your product or service? Has it been budgeted?

    When Will They Do It?

    3. When does the prospect plan to implement your product or service? For many products and services, implementation - not the close date - is the key because it is the purpose of the buying decision. It also focuses on the customer's perceived benefits, not the salesperson's sales forecast.

    Who Are The Decision Makers?

    4. Who will make the decision to buy the product or service?

    5. Who are the decision influences who can bring pressure to bear (positive or negative) on the person who will make the final decision?

    6. Who has the budget or spending authority to implement the decision? Don't confuse decision and spending authority. They may not be vested in the same person.

    7. Which decision makers have your salespeople called on? It should be all of them!

    Bold, Direct Questions

    Given these questions, there are really only two skills that your salespeople need to qualify properly. The first is confidence. The second is questioning skills. Good questioning skills can create confidence.

    Prior to making a call on a prospect, you want your salesperson to get the answers to as many of these seven critical questions as possible. Resources could be the prospect company web site or past sales reps who have contacted the prospect company, etc.

    The amount of information that can be collected in advan

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