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Slide share version of sales as an art and science the 10-step sales process everyone should master

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Information about Slide share version of sales as an art and science the 10-step sales...
Business & Mgmt

Published on March 8, 2014

Author: stulman

Source: slideshare.net

Description

I was invited to give a presentation to the MBA and HBA students at the Richard Ivey School of Business on the topic of how to succeed at a career in Professional Sales. Here are the slides that I used to present to the students.
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Professional Selling: The Art and Science Behind It All By Steven Tulman Email: steven.tulman@gmail.com Twitter: @StevenTulman LinkedIn: ca.linkedin.com/in/stevetulman

About Me • • • • • • • MenuPalace.com Dealfind.com The Biz Media SEOlogist Info-Tech Research Group ICM Consulting & Media Corp. One Core Media E-Commerce Solutions

Why a Career in Sales? 1. Do you want to have unlimited income potential? 2. Do you want to run your own company or be the CEO of another organization? 3. Are you good at managing your finances? 4. Are you ready to work hard and have fun? 5. Almost Recession-Proof

The Evolution of Sales Relationship Selling Consultative Selling 1950 to 70’s Mid 70’s to late 90’s Partnership Selling Late 90’s to Now

Art Form OR Science What do you think? VS

Art Form OR Science The Art • • • The art of listening & communicating The art of presenting The passion for helping *Suggested readings: - How to Win Friends and Influence People- by Dale Carnegie - The Seven Habits of Highly Effective People – by Stephen Covey - Presentation Zen – by Garr Reynolds

Art Form OR Science The Science • • • A strategic sales process The product knowledge The industry knowledge *Suggested readings: - What the Customer Wants You To Know – by Ram Charan - Mastering the Complex Sale – Jeff Thull

The 2 Breeds of Sales Professionals Are you a hunter or a farmer?

2 Kinds of Sales Jobs Inside Sales Vs Outside Sales

Choosing Your First Corporate Sales Job • What are your options – BIG or small? • Where do you look? • How today’s choice will affect you tomorrow? • What to expect when you start?

Landing Your First Sales Job 1. Interviewing is a Sales job in itself and perception IS reality 2. Perfect your LinkedIn, Resume, and Cover Letter – Quantify and Story tell 3. Clean up your Facebook, Twitter, and other social media profiles 4. Use your local resources and networks 5. Use jobsites and job boards like Monster, Workopolis, even Craigslist 6. Prepare, prepare, prepare!!! 7. Find the right opportunity and right culture *Suggested reading: The Essential Guide to Hiring & Getting Hired – by Lou Adler

The 10 Milestone Sales Process What’s the point of having a sales process?

The 10 Milestone Sales Process 1. Prospecting 10%

The 10 Milestone Sales Process 1. Prospecting 2. Qualifying 20%

The 10 Milestone Sales Process 1. Prospecting 2. Qualifying 3. Initial Meeting 30%

The 10 Milestone Sales Process 1. Prospecting 2. Qualifying 3. Initial Meeting 4. Needs Analysis 40%

The 10 Milestone Sales Process 1. Prospecting 2. 3. 4. 5. Qualifying Initial Meeting Needs Analysis Product/Service Demo 50%

The 10 Milestone Sales Process 1. Prospecting 2. 3. 4. 5. 6. Qualifying Initial Meeting Needs Analysis Product/Service Demo Presenting a Quotation 60%

The 10 Milestone Sales Process 1. Prospecting 2. 3. 4. 5. 6. 7. Qualifying Initial Meeting Needs Analysis Product/Service Demo Presenting a Quotation Influencer Approves 70%

The 10 Milestone Sales Process 1. Prospecting 2. 3. 4. 5. 6. 7. 8. Qualifying Initial Meeting Needs Analysis Product/Service Demo Presenting a Quotation Influencer Approves Final Decision Maker or Committee Approves 80%

The 10 Milestone Sales Process 1. Prospecting 2. 3. 4. 5. 6. 7. 8. Qualifying Initial Meeting Needs Analysis Product/Service Demo Presenting a Quotation Influencer Approves Final Decision Maker or Committee Approves 9. Contract Signed, P.O. Sent 90%

The 10 Milestone Sales Process 1. Prospecting 2. 3. 4. 5. 6. 7. 8. Qualifying Initial Meeting Needs Analysis Product/Service Demo Presenting a Quotation Influencer Approves Final Decision Maker or Committee Approves 9. Contract Signed, P.O. Sent 10.Product/Service Delivered, Payment Received 100%

Milestone 1 – The Prospecting Stage • • • • • • Define your target market and decision makers Start with the top decision maker – The VITO Choose methods to prospect Prepare prospecting scripts and templates Follow a prospecting schedule ALWAYS finalize specific next steps * Suggested reading: Selling to VITO, the Very Important Top Officer by Tony Parinello 10%

Milestone 2 – The Qualifying Stage B.A.N.T. – Developed by IBM • • • • Budget Authority Need Timeline 20%

Milestone 3: Initial Meeting 7% Verbal 38% Tone of Voice 55% Body Language * Professor Albert Mehrabian’s Communications Model 30% 1. 2. 3. Brief intro about you and your company Ask about customer’s business and challenges Demonstrate product features and benefits relating to their needs

Milestone 4: Needs Anylysis S.P.I.N. • • • • Situation Questions Problem Questions Implication Questions Needs-Payoff Questions 40% *Suggested reading: SPIN Selling - by Neil Rackham

Milestone 5: Product/Service Demo F.B.I. • Feature • Benefit • Improvement 50% * Remember to secure the nest-step

Milestone 6: Quotation Presentation • • • • • Verify spelling and grammar of EVERYTHING Verify ALL calculations Don’t forget promises made Review with Influencer before sending to final DM Double check, Triple check, Check Check Check 60%

Milestone 7: Influencer Approves • • • • Confirm agreement with influencer Suggest meeting with influencer & DM or Committee Determine timeline Book next step-date 70%

Milestone 8: Final Decision Maker or Committee Approves Decision Making Criteria • • • • • Reliability Relevance Quality Cost Continued Service 80%

Milestone 9: Purchase Approval, Contract Signed and PO Sent • Don’t celebrate just yet.. • Potential roadblock from Purchasing or Finance • Present to the Roadblocker • Perform mini sales cycle • Get their buy-in 90%

Milestone 10: Product or Service Delivered and Payment Received 100% WOOOOHOOOO!!! • Closed 1st Deal • Celebrate & Thank • Learn, Repeat, Teach

How to Excel in Sales: The 6 Main Attributes that Will Make You Successful 1. 2. 3. 4. 5. 6. Empathy (EQ) Product and Industry Knowledge Focus Accountability Enthusiasm Ego-drive *Suggested readings: - Coaching Sales People into Sales Champions: A Tactical Playbook For Manager and Executives by Keith Rosen

The End Q&A By Steven Tulman Email: steven.tulman@gmail.com Twitter: @StevenTulman LinkedIn: ca.linkedin.com/in/stevetulman

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