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Practical Lessons From The
Apprentice
Passion, Diligence, Sales Systems and
Negotiation
After last weeks
episode (#4 - Dove TV Commercial) I began to think that being Project
Manager was a high risk move when every losing PM had been fired.
Fortunately, in this weeks episode, The Donald broke his streak and
found another person other than the PM who was more deserving of hearing
his famed two words, "Your Fired!" In
watching tonight's fifth episode, (converting an Airstream trailer into
a mobile service business) here are some practical lessons that you can
apply to your business: It
Takes Passion to Win
Erin Elmore of Magna Corp. said, ""I was shameless, okay? I was shameless, and I got people in that door. Michael doesn't have that fire in his belly to just do everything." Michael questioned the validity of her claim, and she reiterated her point: "You gotta do what you gotta do to win, and he just doesn't have that
fire". Erin
is right, to excel, you must have passion. Most importantly, as a leader
and owner of a small business, you need to hire passionate people who
believe in your business and will fight for your cause because just one
lack-luster performer could cost you everything. In this case, the
people in charge of marketing & promotions (Michael and Stephanie)
specifically Michael, could have easily secured $74 in additional sales
by being a team player instead of choosing to waste time by complaining
about selling. ---
SIDEBAR ---
This type of sales avoidance is also called sales call reluctance, make
sure when hiring sales people that you use a good evaluation system that
also measures for sales call reluctance. Hey Michael, I know
someone who can help you with that problem. Listen
to my audio analysis of why Bren failed and learn how he could have
corrected the problem sooner possibly saving his team from defeat. Don't
Give Up Too Soon
Angie of Networth Corp. sold her idea of a mobile casting call and made
guarantees that it would perform. The team, despite some skepticism,
gave the idea fair opportunity. Not only did the team overcome an
adversity of securing a casting agent, but managed to develop an ad-hoc
sales system and strategy that picked up pace even though the day got
off to a slow start. By sticking to the plan the team came out
victorious. When trying something new, there is a delicate balance
between being overly reactionary, giving it a decent shot, and sticking
that clearly does not work. Do you know how to tell the difference
between them? Hint: it has to do with completing a repeatable
"cycle". In the meantime, what do you do if you sense a
strategy is off to a bad start? Tweak and make minor adjustments before
abandoning a strategy all together. Develop
a Sales System
I have to argue that selling mobile spa services (quick manicures,
speedy facials, and massages) to the stressed out people of New York
City, has got to be a far easier and simpler sale than paying for an
interview with a casting agent. However, part of the success behind Team
Book Smarts was the development of a sales system, where the street
promotions team would "raise interest", Tana would close the
deal. This system took what was an easily objected sale into a more
discreet environment where a second person could be more persuasive to a
person who has already expressed interest. In sales, this is call
pre-qualifying a prospect. Negotiate
For The Commitment
With the help of Chris and John, Tara of Networth Corp was able to
secure a casting director after 3 hours of failed efforts by Angie. What
went right? Tara was able to articulate the benefits and with Chris and
John's help, she was able to ask for a commitment by eliminating
downside risk to the Director. One of the most successful negotiating
strategies is to eliminate or reduce downside risk to the party you are
negotiating with and in doing so, secure a commitment. Just remember,
the art of negotiation is to always make deals that are win-win.
Shameless
Plug:
Is your sales process sending pre-qualified prospects to the
closer?
ALTI Consulting and our
team of specialists can analyze and review your current sales process,
and make suggestions to help you increase closing ratios. To get your
sales process reviewed, give us a call,
or shoot us an e-mail, (206) 984-9560 or .
Do You
Agree? Tell Me What You Think.
I want to hear your
thoughts and reactions to each nights episode. Just call the
Apprentice Feedback voice mail line (800) 598-1338 ext. 9915 or send your feedback to
. If you make a good
point (or are the only person brave enough to call or write) you will be
featured in this newsletter.
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