• 09Aug

    When you began that new job, were you nervous? Did you know what to do?

     

    Sure you will be toured around your office. You will meet a lot of people whose names you will forget the minute you leave their desk. You will be told who you report to, where your desk is, and most importantly, where the lunch room and washrooms are.

     

    But then what? No problem they say. You are in sales – go out and sell. You will figure it out if you are any good. And why wouldn’t you be good, you sold them on giving you the job right?

     

    That is when many sales people freeze up. Yes I know I have to sell, but what does that mean? Although “sales is sales” is accurate in terms of the general process, achieving success in sales goes beyond the general definition.

     

    However, with so much excitement, it is easy to go “brain dead” – so much happening that you lose focus on your primary function and what you have to do.

     

    A job description, with current KPIs (Key Performance Indicators) can help with some guidance of specific tasks and your role in relation to the rest of the organization. That can get you on the road to success that much faster.

     

  • 12Jul

    The sales profession is perhaps the most misunderstood profession on the planet. Too many of these great people get the label that “he/she is just a sales person” as if being in sales is a bad thing. Yet, real professional sales people are the movers and shakers of all businesses and industry. Without them, the world economy eventually grinds to a halt.

     

    Why is that?

     

    Because, what makes a great sales professional is also what drives their spouses, friends, relatives and everyone else around them crazy. They are independent, passionate, focused, assertive, and confident. And they have one of the most difficult (yet not complex) jobs to do.

     

    If being a salesperson is one of the most difficult jobs to do, what is harder? Effectively managing a team of these great (and sometimes not so great) people can be the next rung on the list of difficult jobs.

     

    If you have ten sales professionals in your group, let’s be honest, are all of them going to be the superstars that everyone likes and will they always reach the numbers they are aiming for? No, you are probably going to have 2-3 that are doing a great job, 4-6 that are doing ok, and 2-3 that are not reaching their sales targets and worse may be culturally the wrong fit for your company.

     

    If too many are not reaching their targets on a regular basis, how do you know if you, as a sales manager, are doing your job? You can set out effective KPIs (Key Performance Indicators) that you know will get the company to success. These KPIs cannot just be for sales closes as it is a process. You must set out KPIs that are also working in nature (i.e. number of calls, number of appointments, etc.) and have an expectation that they will work to reach those numbers.

     

    Then, you can measure your success on the percentage of your team that is achieving the goals set out. IF you can get seventy-five or eighty percent achieving their KPIs, you will find the sales numbers will increase naturally and you will be considered successful.

     

    But, remember, set out KPIs for success and not for minimum achievement. If you set the bar too low they will reach for that bar thinking they have achieved enough. You will have done yourself and them a disservice as they will never reach for their true potential as great sales professionals.

     

  • 25May

    There are a number of areas you can measure your sales people by. But one big measure is accountability. Do your sales people have a high level of accountability, to go along with a sense of responsibility?

     

    Are they out in the field doing what you both know are their responsibilities as sales professionals?  Do you have to chase them down for their activities? Do you have to continually prod and poke them to do what they are getting paid to do?

     

    If you cannot think of a right answer to these questions, it is probably time to have a discussion with them. Also, keep in mind; if you care more for their success and careers than they do, then it may be time for them to find a different company that will fire up their passion about what they are doing. 

     

    In the end, little matters for the success of a sales rep except closing deals that make sense for both you and the client. But on the way you still need to measure what is happening in their career. And I would measure them to the level of accountability they claimed when you interviewed them and ultimately hired them on.

     

    If they don’t measure up, you need to ask them the hard questions and make a decision on their future with your company.

     

  • 07May

    Your interviews are over and you have made the decision to bring a new sales person on board your team. There is a lot of excitement and energy on both sides. You think you have a real go-getter and someone who is going to knock the socks off everyone. They are excited to show you their ability to succeed.

     

    You walk them around the building, introducing your “new star” to everyone, beaming with pride on your new addition. They show a nervous energy that comes with a new position and assurance that they can succeed.

     

    They go through the training program you have in place, wowing their new colleagues with excitement, confidence, and saying the right things. This is “the one”, the Neo of your sales Matrix, going to whisk your organization to a new level of the Promised Land.

     

    Then you set them loose and …reality hits. The activity starts strong, but, after a few weeks, it begins to wane. The swagger turns into a shuffle. The phone calls, appointments, proposals, etc. all start to slow down. Now you both start to wonder where it all went wrong.

     

    They start second guessing themselves and their career path. “Did I take the wrong job?” “Am I cut out for this?”

     

    You are thinking the same. “Did I make the wrong choice?” “Maybe the other candidate was better.”

     

    So how do you know?

     

    The answer is simple. You don’t. Every sales person hits a block at some point. Whether it is two days after they have finished their training, or six months into the job when they think they should be doing better, everyone hits “the wall”. It is at this point you have to make a decision. Do we continue down this path or do we part ways and look for a new beginning.

     

    The goal of the sales manager/leader is to determine whether they will ever gain the knowledge or confidence needed to succeed. The responsibility of the manager is to provide the breeding ground for learning and the opportunity to succeed. If they are not a good fit, then save everyone the pain that will come and make the decision quickly to move on.

     

    The goal of the sales professional is to get over the hurdles they face. Every sales professional will hit a series of walls. It is up to them to get over these hurdles and learn how to succeed. Just keep going and don’t give up!

     

    Do you have the right person? Only time will tell. And only the sales person will determine for themselves whether they are the one who will succeed. If you have provided training and have a good service or product, the best sales people will find a way.

     

  • 05Apr

    The Benefits Canada web site posted an interesting article about the attitude change in employees after the recession towards their career paths. After a Global Workforce Study involving interviews with 20,000 employees in 22 markets around the world, the “job for life” employment model is showing signs of becoming an increasingly popular trend. The study found that approximately 80% of employees polled had a desire to ‘go steady’ for the long-term, while 43% want to work for one company during their entire career. There seems to have been a shift during the ‘Great Recession’ from the ‘free agent’ employment model into a more long-term outlook for stability and career development.

     

    To read more on this article please go to the following link:

     

    http://www.benefitscanada.com/pension/governance/article.jsp?content=20100316_134534_4636

     

  • 16Mar

    Starting January 11, 2011 new accounting and financial principles will be implemented for both Public and Private Companies. Public Companies will no longer be able to use the current Canadian GAAP as they will be required to use the new Canadian GAAP-PE. Private Companies however have a choice to either adopt the International Financial Reporting Standards (IFRS) or the new Canadian GAAP-PE. To learn more about these changes we have attached a link to an interesting article on the Benefits Canada website:

     

    http://www.benefitscanada.com/pension/governance/article.jsp?content=20100302_080842_12540     

    - written by Lorne Lebow

  • 05Mar

    The bane of existence for most people when they think of getting into sales, “cold calling” is the thing that keeps many good people away from the profession of sales. The question almost everyone asks, “Do I have to do cold calling?”

     

    As well, there is a wave of thought that believes the era of cold calling is dead. Networking is the way to get successful in sales. That is where you make all the big sales. I cannot deny that. Often the senior people will not accept cold calls and the only way to meet them, connect with them, and build a relationship with them, is initiated in a networking avenue. Or it comes from a referral from someone else.

     

    In building a sales territory or book of business, in many instances it is a must to network. People are busy running just to stay ahead today. To land the “big fish”, you need to network and meet people away from the traditional business avenues.

     

    However, is cold calling dead? I think that depends on who your client is. If your client, or target market, consists of primarily senior people, you better get out the networking suit and hit the events.

     

    But if your potential client base is the “average Joe”, or “Josephine”, then going to networking functions may not reach everyone. Senior people network, sales people network but most people don’t. So if your client is going to be the average mid level manager, intermediate decision maker, I believe you still need to hit the streets.

     

    I agree that the day of walking in on a company and expecting to meet the decision maker is long past but walking up and down the street, obtaining contact info, researching the company and then “cold call phoning” to book appointments, is still a very effective way to build your business.

     

    Is cold calling dead? I think it depends on your target market. But for some, it is still a critical component to being successful. You just need to suck it up, go out and do it.   

     

  • 04Feb

    You may already know of a few credits, deductions and benefits you are entitled to claim on your tax return, but do you really know all of them? Have you ever looked at your tax situation and researched various tax deductions you may be eligible for? Unless you’re an accountant, many of us just don’t know or take advantage of all the tax deductions possibly available to us. The Canadian Revenue Agency’s web site is a good place to start. With tax season just around the corner it has a wealth of information on various items you could claim on your taxes based on your current tax situation.

     

    For many, 2009 was a rollercoaster of ups and downs due to the economic crunch. We could all use as many tax tips and deductions as we can get this year. Starting January 12, 2010 the CRA will be issuing a variety of tax tips to help you determine which credits, deductions and benefits you may be able to claim on your 2009 income tax and benefits return.

     

    For more information and to find out what you are eligible to claim check out the Canadian Revenue Agency web site:

     

    http://www.cra-arc.gc.ca/nwsrm/txtps/2010/tt100119-eng.html

     

  • 19Jan

    If you operate a business in Canada, you may have received a notification from Canada Revenue Agency regarding the new Program Identifier (RZ) that attaches to your Business Number. You may be asking yourself; What’s that all about? How does this affect me?

     

    A Canada Revenue Agency Account Number is comprised of 3 parts; a nine-digit Business Number (BN), a two letter program identifier and a four-digit reference number. Each business or legal entity should have one BN.  

     

    For example:

                                                                                       Business Number          Program Identifier          Reference Number

     

    ABC Ltd.                                                                               123456789

            Corporation income tax account                                       123456789                    RC                                0001

            Payroll Account                                                              123456789                    RP                                0001

            Payroll Account (2)                                                         123456789                    RP                                0002

            GST/HST Account                                                          123456789                    RT                                 0001

            Information Returns – T5 Group                                        123456789                    RZ                                 0001

            Information Returns – T5 Group                                        123456789                    RZ                                 0002

            Information Returns – Contract Payments                         123456789                    RZ                                 0003

            Information Returns – TFSA                                             123456789                    RZ                                 0004 

     

    Effective January 1, 2010, you will be required to use your BN with a new RZ account number to file any of the following information returns with CRA:

    • T5 – Return of Investment Income
    • T5007 – Return of Benefits
    • T5008 – Return of Securities Transactions
    • T5013 – Partnership Information Return
    • T5018 – Contract Payments Information Return
    • Registered Retirement Savings Plan (RRSP) Contribution Receipts Return
    • The new Tax-Free Savings Account Annual Information Return.

    If you employ third party administrators to issue receipts or returns you may not be affected. For example, if your RSP is through a large insurer who usually issues the receipts then the insurer may be responsible for submitting information using the new BZ numbers.

               

    There isn’t a lot of information currently on the Canada Revenue Agency website. There are, however, a couple of sites that maybe useful:

     

    http://www.cra-arc.gc.ca/tx/bsnss/tpcs/fncnvrsn/cctnmbr-eng.html

     

    http://www.cra-arc.gc.ca/E/pub/tg/09-115/09-115-e.pdf

     

    If you are responsible for information returns, I would recommend discussing this with your accountant/accounting department and any third party administrators to ensure that you are in compliance with the new requirements. Keep watching the CRA website as there maybe more bulletins posted as they receive more inquiries.

     

    Happy Reporting!

     

  • 09Dec

    It is imperative that you know as much about a prospective client as possible before you present your solution and pricing to them. Please find below a list of seven key questions you should know the answers to before you present your solution to them.

     

    1. What is the Client’s problem or issue?

    Most times the client is aware of his or her issues but wants to make sure that you are aware of them. By doing this you are gaining credibility, proving that you are in fact listening. If you do not know why they are talking to you, chances are you will not find a solution for them.

     

    2. Why is it a problem?

    So you have established what the problem is but do you know why it is a problem? They may indicate that they are looking for a particular product or service but to really understand the client and their needs, find out what impact that particular problem has on them.

     

    3. What is the desired outcome?

    You now know what the problem is and why it is a problem. You better know what their end goal is whether it is freedom or more time with their family or cost savings. Focus on how your product or service will achieve this outcome.

     

    4. What is the most important problem?

    Many times clients will list multiple problems or issues. Find out what their most immediate need is and focus your attention on that. If you are not aware of their biggest need and you highlight secondary issues, they may not see your product or service as an immediate solution.

     

    5. What are potential solutions?

    Whenever possible try to give the client a couple of different solutions that address their primary problem. This will show that you are in tune to the clients needs and the client has some power and control over the process.

     

    6. What are the probable results?

    You have now successfully given them a set of solutions. Don’t forget to highlight what the results will be with each of the choices you have given them. Show them how these solutions will result in their desired outcome from question three.

     

    7. Why are we the right choice?

    You are kidding yourself if you think that you are the only solution to their problem. If you have made it this far make sure to differentiate yourself from your competitors and make sure they know why they should do business with you and not someone else. Failure to do that may place you in the unenviable place of being commoditized and you will be judged solely on price and not the value you will bring to them by solving their problems.

     

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