Saturday, 4 February 2012
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Time Management

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Having worked with more than two dozen different professional services firms (including IBM and Accenture), Ive seen my share of common sales and business development pitfalls. Among the most prevalent: Weakness in account management and account planning effectiveness -- even with a firms largest and most strategic clients. Client churn, poor penetration at top accounts, and lack of sales predictability are all the result of poor account management. How do smart firms find themselves in these predicaments?

  • Firms too often try to treat all clients equally well - whether the client warrants it or not. Without a client segmentation schema, there are no ground rules to avoid this problem.
  • Firms tend to overly focus on the short term (quarterly at best). By over deploying resources on opportunistic (and often new account) pursuits, too few resources are spent on more strategic accounts.
  • Compensation plans, by and large, are inconsistent with the goal of strategic, s

    The person who coined the phrase "time is money," must have been a sales rep paid on commission. In the selling profession, the old clich? rings true, if you are not talking to a prospect or customer, youre unemployed! How effectively do you manage your time? Do you spend your time as you would any other precious, nonrenewable asset, or are you the type of salesperson who is stressed-out, constantly jumping through hoops and consistently running late for meetings and client appointments? We measure time far better than we manage it. In todays high- tech world, physicists have become extremely proficient at measuring time. The atomic clock, based on strontium atoms trapped in a laser grid, is so precise that it has an inaccuracy of less than one second in 200 million years. While we can all agree on how to measure time, we each tend to approach time management from our own personal perspective. Look at all of the ways we view the use of time... we waste it, we save it, we spend

    Now more than ever, you need to stay tightly focused on your goal if you expect to keep your level of sales motivation up. It becomes far too tempting to start chasing after the latest trend when things are not happening at the rate you expect them. Weve all done this at one time or another. Sales slow down and suddenly, a new customer appears, a new product comes out or a new sales technique emerges, and you start to think it is the "cure all" for ALL your sales struggles. You begin chasing after the new trend instead of sticking to tried-and-true sales techniques. Ultimately, the only thing that happens when you chase the trend is you waste time and effort on something that ends up de-motivating you. Our problem begins when we start doubting our current sales strategy, our prospects or some other element in our approach. This opens the door to us becoming distracted. It also makes us more susceptible to being swayed by the new trend or new customer we believe will turn ou

    My wife and I moved to a brand new subdivision from a very mature area earlier this year and what we missed most this summer was a backyard with a patio and lots of grass. Fortunately, a few weeks ago the sod people arrived and covered the dull brown dirt with bright green grass. Yay! The builder issued instructions to water our grass for approximately 2 hours every day for the first couple of weeks to ensure that the sod could take hold and thrive. However, several homeowners have disregarded these instructions and have only sporadically watered their lawn. As a result, their grass is starting to turn brown and die. The same type of neglect also happens in sales. Sales people often neglect to execute certain concepts that contribute to their success and they wonder why their sales falter or die off. Here are eight things that many sales people neglect. Nurture existing accounts. Just because you captured the initial sale does not mean you have a customer for life. You

    The most successful people in any society are those who take the longest time period into consideration when making their day-to-day decisions. This insight comes from the pioneering work on upward financial mobility in America conducted by Dr. Edward Banfield of Harvard University in the late 1950s and early 1960s. After studying many of the factors that were thought to contribute to individual financial success over the course of a persons lifetime, he concluded that there was one primary factor that took precedence over all the others. He called it "time perspective." Plant Trees What Banfield found was that the higher a person rises in any society, the longer the time perspective or time horizon of that person. People at the highest social and economic levels make decisions and sacrifices that may not pay off for many years, sometimes not even in their own lifetimes. They "plant trees under which they will never sit." Doctors An obvious example of someone with a long

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