There are essentially a number of reasons why salespeople miss their quotas. Do you know what they are?
I've heard managers say "my salespeople aren't making enough calls" and "my salespeople make calls but they don't sell anything - I think they're just making friends with everyone of their prospects" and "my salespeople make calls but don't sell what I want them to sell" and all sorts of other things.
The truth of the matter is that most salespeople miss their quota for one reason:
MOST SALESPEOPLE FAIL TO PLAN.
It might sound silly, but it really is true. Do you know how I know this? Because whenever managers tell their salespeople they need an account review to write a sales territory plan of how they're going to hit their quota they all go into scramble mode! I recall the frantic "Scott, you know how to plan... can you please HELP ME!" phone calls I used to receive when I worked in the High Tech industry selling services. Oddly, I'd usually walk out of my own account review meeting beaming, having received kudos for a great plan, along with the words, "now just execute upon that plan and we'll all be even happier next year" (execution of the sales plan is the #2 reason people fail, coincidentally). And, yes, I'd go hit my numbers year after year after year.
"FAIL TO PLAN, PLAN TO FAIL."
My first boss out of college had a great expression: "Fail to Plan, Plan to Fail." He would often put this up on the slide projector at the start of meetings. It stuck. It's true! The guy knew what he was doing - he turned a $300K sales team into a $1MM+ sales team in ONE YEAR. I think if every manager copied his formula for success they'd have more success. His original formula used with that team was a winner. I'm going to put it into a program for sales managers later in 2010, so stay tuned on that one... anyway, my point is that planning is vital to success.
An often quoted statement is about the 3% of a graduating class at Harvard or Yale who wrote down their goals achieved more than the other 97% combined. I don't know if that story is true or not - it has not been substantiated from what I've seen. However, I did see a study from the Dominican University that there is an increase from 4.28 (unwritten goals) to 7.6 (written goals with progress reports to a friend or mentor). So, writing the goal down, including milestones, and reporting back on progress is a great idea if you want to be twice as good as the "typical" salesperson (who I've already explained is too lazy to write down their plan).
So, make a plan. If you're not sure how to write a territory plan, I've written instructions before on the blog and at AspireNow.com I think I posted an article in the past. You can hire someone to write one for you. But I believe there is value in writing your own plan. You may not work the plan (execute) if you don't write it. Take the time. Make the effort. Write a plan you can use to succeed.
If you want help with your plan, I've written a ton of sales plans and had CEO's and Sr. VP's tell me my plans are the best they've ever seen in their life. I've been hired off a sales plan I wrote for two different jobs. My plans are *that* powerful.
What are the keys to a good plan? Well, you must include the following:
1. Non-disclosure agreement & Executive Overview
2. Mission
3. Objectives
4. Understanding of Ideal Client
5. Definition of Product (what are you selling to them and why)
6. Strategy to achieve objectives
7. Territory - definition of borders, vertical, geographical markets
8. Ways you intend to differentiate and add value to prospects in that territory
9. The math of how you will achieve your quota
10. Milestones to hit to make sure you're on plan
11. Statement of known and unknown factors of risk
Only share #10 milestones with a boss if you intend for the boss to start measuring you on those milestones and you intend to hit them. If you're going to fluff your way through success, don't list that. But frankly, if you're going to succeed, you ought to list things you know you can achieve.
Most sales plans don't include #11 - but good business plans do. Why? Because this covers your butt if you MISS your quota, despite doing everything right, due to something weird happening. For example, if you missed a quota when the economy tanked. Some companies will give up on you if they think you aren't working your plan. But if you can demonstrate you are working your plan and can show prospects that indicate success is around the corner, that may buy you time to keep your job and thrive in the future. It's all about achievement of the numbers to most of these bosses, so you must show progress towards those numbers.
And, regarding achieving, it's all about your quota, in the end, for any boss. So, every boss will examine #6 with a fine toothpick and comb if they're worth their salt. Put the numbers they need to see there. But, for your OWN benefit, take THEIR quota numbers and then figure out how to DOUBLE that goal. Because that is the goal you ought to work for - reason being that if you miss YOUR quota you will still hit THEIR quota.
Besides the plan itself, doubling your quota is the #1 key to ensuring you always hit your quota. It proves that success is largely a MENTAL thing - you must condition your mind to BELIEVE YOU CAN. Take their quota, double it, figure out how to accomplish THAT goal, then work towards THOSE numbers. As long as you're adding value, selling the right number of deals to the right prospects, and focused on that higher number, you will pretty much always blow away your goals. There are other reasons salespeople miss quota I identify and discuss in Cold to Gold Mind Spark SessionsTM (my sales workshops). I'm offering these workshops for a limited time prior to selling Cold to Gold online, so don't wait if you're looking to explode your success in 2010 - many of the techniques I'm offering for a limited time and they are not offered anywhere else.
To register a group of 20 or more, send me an email to info@ARRiiVE.com. Otherwise, sign up directly at ColdtoGold.com
Check out additional articles on "Cold Call Tips For Effective Cold Calling"
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Apr 1, 2010
Why Salespeople Fail
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Mar 31, 2010
Cold to Gold Mind Spark Session
Attention: the next Cold to Gold Mind Spark SessionTM is scheduled for April 6, 2010, at 10:00AM.
Registration for this powerful online workshop will close one hour prior to the start of workshop. Only 25 seats are available for this session, which runs each day from Tuesday through Friday next week, from 10:00 a.m. until 11:00 a.m. So, hurry while you can still get in!
Cold to Gold is a system of selling created by Scott Andrews, CEO of ARRiiVE Business Solutions.
You'll gain access to the mind shift, techniques, and methods that help you get in the door, form better qualified meetings, and highly successful business relationships. These are the techniques used by Scott to land multimillion deals with IBM, EMC2, Data General, and other sales organizations. For example, Scott wrote Jay Leno a letter and Jay returned Scott's call personally. Scott never met Jay prior to sending the letter. You'll learn the techniques Scott uses to get responses like this. Can your business use a lift?
To sign up for this workshop, please visit http://www.coldtogold.com/
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Please note: The disclaimer re: warranty or terms is listed at ColdtoGold.com re: any assumption or statement of earnings you may make from ColdtoGold.
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Mar 29, 2010
Stop Thief! Headlines Increase Open Rates
"Following up about ____"Isn't this how most sales emails read that come across your inbox? Do these work for you? Or do you think they're boring? There's a better way. I've been studying email marketing and personally developing email campaigns for about ten years now. The first thing I notice about an email is the headline. Without a good headline, your open rate, or "opens", is low. With a good headline, your open rate increases.
"Here's my report for your review"
"Read our white paper on ____"
"Check out our new blabber widget"
Right now, for a limited time, you have an opportunity to learn more about how to shift thinking, what you say does matter, and more in Cold to Gold Mind Spark Sessions TM (http://www.coldtogold.com/). Visit the website, or call me and we will talk about how to work with your team to impact higher results.
Until then, enjoy the free training I just gave you and have a great day!
Your friend in selling and life success,
Scott Andrews, CEO
ARRiiVE Business Solutions
http://www.coldtogold.com/
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Mar 24, 2010
Killer Training 5 Expert Money Making Systems With Brendon Burchard
Have you met Brendon Burchard? I met him last week at a seminar. This week, he released some videos that very well might change your life - I'm using his strategies in my own coaching.
Brendon Burchard just opened Experts Academy to the public and people are freaking out:
https://burchardgroup.infusionsoft.com/go/EA_live/Aspire/
Brendon started from scratch and made $4.6 million in 24 months through books, speeches, seminars and online programs. Now he's showing how he, and his friends like Tony Robbins, Frank Kern, John Gray, Brian Tracy, David Bach, Debbie Ford and others DOMINATE their topics.
In Brendon Burchard's Expert's Academy, you'll learn:
* How he used an innovative (and simple) strategy to write a short how-to ebook and get it downloaded 117,000 times, making him an instant expert (and rich guy).
*How he skipped the speaking circuit advice of starting out at a few hundred bucks per speech and LEAPED to $25,000 per speech with one secret approach to getting booked as a speaker.
*How he pulls in $500,000 plus paydays (that's net) in just one easy to create weekend seminar.
*How he gets coaching clients to pay $25,000 a year without having to work with them one-on-one every month.
*How a weird accident led to millions of dollars online with a ONE-PAGE continuity program. He calls it the "anti-membership" membership program - cool, huh?
I'm not kidding - you'll really learn all of this stuff!
https://burchardgroup.infusionsoft.com/go/ExpertAcademyVideo1/Aspire
Brendon is the go-to guy for authors, speakers, coaches, seminar leaders and online marketers. This amazingly detailed and innovative training will show you why.
This is the path to getting your how-to strategies for success out in to the world (and GETTING PAID for it):
https://burchardgroup.infusionsoft.com/go/EA_live/Aspire/
Check it out while it's still available. This will sell out like all Brendon's other trainings.
After you watch the videos, please let me know how you like them by commenting below!
Cheers!
Scott
Scott Andrews, CEO
ARRiiVE Business Solutions
ps. The $10,000 bonus he threw in is INSANE. Check out Brendon's Expert's Academy now:
https://burchardgroup.infusionsoft.com/go/ExpertAcademyVideo1/Aspire
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Note: ARRiiVE is an affiliate of Brendon Burchard and makes money when you buy Expert's Academy. Here's my story: I've been telling everyone everywhere about this stuff - I'm excited about it and asked if I could help promote him! This may be late getting to you for this program, but watch all the videos, if you've ever had a dream of ending the 9 to 5 drudgery, Brendon's ideas are Life's Golden Ticket!
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Mar 23, 2010
Is Cold Calling Frustrating You?
"How are you today?"
Seriously. They were that bad! How did they know how I would respond? I could have been having a really bad day! Asking "How are you today" makes you sound like a salesman from the first sentence. That's not something you want to do, is it?
I call my workshops "Mind Spark Sessions" because I've created a rapid learning workshop system that is the closest thing to a "Vulcan Mind Meld" - truly exchanging the my ideas from my head to your head - over four different sessions (modules) that offer the highest impact transfer of learning, interactive workshop, testing, and proof of concept available in education. Mind Spark Sessions go beyond a workshop - they impact your results immediately. The last company I taught Cold to Gold information signed the largest deal in their history just three months later. Now, success like that is cause for celebration.
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Feb 25, 2010
My Sales Team Is A Bunch Of Order Takers
Do you need more sales? Are your sales people good at taking orders but failing at making the numbers? Have you ever said "Why won't my salespeople pick up the phone and grow some new accounts for us?"
Or, have you ever caught yourself saying "My Sales Team Is A Bunch Of Order Takers"?!
You're not alone. It is why I created Cold to Gold TM (www.ColdtoGold.com). The truth is that salespeople lack a system for getting in the door. Companies, thinking salespeople need to be trained on how to make a sale, spend tons of money on consultative selling processes and company product knowledge training sessions. Your salespeople could have all the knowledge in the world, but if they lack a system to help them actually get in the door, make a call, send an email, or get the appointment, they never get the meeting in the first place!
After realizing I knew how to get in the door AND how little companies were spending on this valuable service, I developed Cold to Gold specifically to meet this need. Cold to Gold breaks down the problem most companies have with their approach to prospecting. We analyze the error in how salespeople approach the entire prospecting process: from strategy to research, practice, cold calls, emails, letters, phone techniques, and move each Mind Spark Session TM participant from guesswork approaches that fail to surefire methods that win. Some salespeople will DOUBLE their production within just days after learning Cold to Gold.
Mind Spark Sessions are a system of learning I discovered by studying the best teachers and learning systems in the world. It is based on 4-hour workshops. I call them mind spark sessions because of the way the information is taught is the fastest way of getting the information in my brain into your brain short of a "Vulcan Mind Meld"! Mind Spark Sessions are highly effective and efficient - as a salesperson, myself, I *hate* spending time in BORING sales training workshops. But I LOVE learning when the people teaching me GET IT: my time is valuable - give it to me straight, quickly, and in a way that INSPIRES ME. Thus - Mind Spark Sessions. Your team won't even have to leave "the field" of selling to learn!
If I'm singing your song, visit http://www.ColdtoGold.com, and sign up your new hires in a Mind Spark Session (webinar). If they report back they love it, enroll the whole sales team! Try it out - I guarantee you'll get the bang for your buck. Even your salespeople who aren't "order takers" will learn some new ideas that will grow their sales, too.
Cheers! ~ Scott
P.S. - For a limited time, I'm offering corporate sponsorships for Cold to Gold. If this might apply to your firm, drop me a note at info (at) ARRiiVE [dot] com.
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Feb 15, 2010
Cold to Gold Mind Spark Sessions Launched
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Feb 3, 2010
Keynote Speaking - Sales, Team Building, and Innovation
Event Planners: seeking a highly capable and entertaining speaker for your corporate event?
Book Scott Andrews, CEO of ARRiiVE Business Solutions, for your Keynote:
Description: Scott is an internationally acclaimed speaker who gives highly entertaining talks that combine common sense, practical knowledge, and a keen sense of humor that keeps audiences involved and entertained. His professional keynotes have ranged from 10 to 3,000 people.
More details about Scott Andrews, ARRiiVE Keynote Speaking, here.
Also, click here for details about Scott's self-help speaking.
As someone who has been a DJ/MC for weddings, MC for major music festivals, performer in front of crowds up to 5,000 people, Scott is well-suited to help you make your event more successful. He understands what goes on behind the scenes to make the event come off polished AND make an impact speaking.
Best of success to you with your event!
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Dec 31, 2009
Move Your Money For A Better Economy
For businesses in America who are frustrated with the economy, I have a simple question:
Are you banking with one of the fourteen banks who were "too big too fail"?
You know which banks I'm talking about... they were responsible for the last great depression and once again, they were responsible for the recent collapse in 2008/2009, too.
Banks who are backed by the families named Morgan, Chase, Goldman-Sachs, etc., along with banks like Bank of America, Citibank, and, Wells Fargo, etc..
Are you going to continue to support the banking policies of these banks? If so, you might as well start wearing an "I love Potter" shirt every New Year to show off your allegiance.
If you're saying, "I love George Bailey" well then do yourself and your community a favor and move your money from the "big fourteen" to a regional, community bank. You money is insured by the FDIC, and you'll probably get better service, as well.
This concept is inspired by a post I read at the Huffington Post:
"The idea is simple: If enough people who have money in one of the big four banks move it into smaller, more local, more traditional community banks, then collectively we, the people, will have taken a big step toward re-rigging the financial system so it becomes again the productive, stable engine for growth it's meant to be. It's neither Left nor Right -- it's populism at its best. Consider it a withdrawal tax on the big banks for the negative service they provide by consistently ignoring the public interest. It's time for Americans to move their money out of these reckless behemoths. And you don't have to worry, there is zero risk: deposit insurance is just as good at small banks -- and unlike the big banks they don't provide the toxic dividend of derivatives trading in a heads-they-win, tails-we-lose fashion."Can you agree to this principle?
Watch the video and then decide for yourself if this is a good New Year's Resolution regarding your money:
Per Huffington, please "watch Eugene's amazing video, then go to www.moveyourmoney.info to learn more about how easy it is to move your money. And pass the idea on to your friends (help make this video -- and this idea -- go viral!)."
Moving your money from a "big fourteen" bank to a smaller, regional bank can be one way you can contribute to the growth of your local business community and help rebuild our economy the good, old-fashioned, American way.
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Dec 17, 2009
Predictably Irrational Offers Rational Pricing Ideas
Would you like choice A or B?
Human beings, when given a choice between: A or B
will choose the better of the two... or will they?
According to the research by Dan Ariely, author of "Predictably Irrational", and an academic, people will actually not always make the right choice if influenced by a number of conditions.
For example, when presented with a slightly flawed "decoy" choice, which Ariely calls -A, the person will choose the choice that does not have the precondition flaw:
So A or B when presented with a slightly flawed "decoy" choice, such as A- or B- when stacked together as A, A-, or B, the person chooses B, because A was presented with a flaw.
Or, when presented with the choice of subscribing to a journal and offered:
Choice #1:
A. Hardcopy subscription $29
B. Online Subscription $59
In choice #1, people typically choose "A" but when presented with:
Choice #2
A. Hardcopy Subscription $29
B. Online Subscription $59
C. Online Subscription + Hardcopy Subscription $59
In the second choice, people choose C considerably more than in the first example. In this case, choice "B" in the second option is obviously flawed, but people will choose C more often because they get something for nothing, in their mind (the hardcopy, in this case).
This is the argument and fascinating case study work shared in the book Predicably Irrational, by Dan Ariely.
The use of a "decoy" in pricing is critical if you wish to drive success of a higher-priced item.
This is also true if you set a precondition of a certain number in the suspect's mind prior to offering a series of numbers, they are more likely to think that number is "acceptable" as a price.
In addition, the use of zero cost items is essential in promoting a lessor quality item. Offer two of them with one free, and you drive sales.
So, in your pricing, are you offer just ONE price? Or, are you offering comparisons. Because, you see, people will buy based upon the COMPARISON guidelines YOU set. In addition, if you state a RANGE of VALUE prior to offering your price, the person buying will be associating value in that value range, and thus be more apt to offer or buy the pricing within a discount from that value.
For example, if you said "an offer like this, at our normal rates, would cost between $10,000 and $12,000" ut for this day only, you can buy at these special rates:
A. Offer A for $5,000
B. Better Offer B for $8,995
C. Both A and B for $9,995
In this instance, we're using three of the theories put forth in Predictably Irrational TOGETHER and thus, driving up both the likelihood that you'll sell the higher priced options B or C and also driving up the likelihood of prospects choosing option C - your highest profit offering. This is using the THEORY of FRAMING EXPECTATIONS with the THEORY of RELATIVE PRICING with the THEORY of DECOY PRICING. Another theory (not mentioned in Predicably Irrational but still a good pricing theory) is the THEORY of LIMITED AVAILABILITY. If people know they can only buy something TODAY, they rush to get it. It is like when K-Mart would run "Blue Light Specials" where the blue lights go on, everyone rushes to buy that item. It creates an "in-store" sensation that increases the odds people visit that store to get good deals. In this instance, it increases the odds they'll buy TODAY.
While some of these pricing strategies are already part of Cold to GoldTM, I'll be adding additional examples of ways to price products in the bonus "Marketing Maven Mashup" guide as we get closer to the online launch of Cold to Gold. Stay tuned...!
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