Business Record - Iowa Biz

Table Stakes

For months now, along with many others in my line of work, I have been lamenting about the "impending" talent crunch. Make no mistake about it...there may be a surpluss of labor out looking for work but there is still a very low supply of great talent. Baby boomers will soon start exiting the market place by the millions. It's been my argument that companies will no longer be able to compete for the best sales professionals with things like salary and benefits. Today, those things are what Mark True at MMG would refer to as table stakes. Salary and benefits are simply the ante to get you into the game of recruiting the top sales professionals.

Recruiting Trends published this report that begins to validate my argument.

Research conducted by the Kenexa Research Institute (KRI), a provider of talent acquisition and retention solutions, asked workers what their reasons were for joining their current organization. The report analyzes data drawn from a representative sample of workers surveyed through WorkTrends™, KRI’s 2008 annual survey of worker opinions. For some time, many have speculated on the reasons as to why people accept a job with a new organization. While KRI’s research confirms that there are a variety of them, two top items emerge as critical decision points: compensation and corporate reputation. An organization’s reputation consists of a variety of characteristics, including their involvement in corporate responsibility initiatives, product quality or profitability.

The survey results also reveal that senior managers and sales people place the most value on the organization’s reputation in weighing an employment offer, as did employees in India, Italy, Russia and Brazil. “The correlation between the organization’s reputation and successful recruiting efforts strongly supports the importance of employment branding,” says Jack Wiley, executive director of the Kenexa Research Institute. “It’s not about each individual job offer – this research highlights the value of presenting and maintaining positive brand messaging to the potential employee talent pool. ”

Why will the most talented sales people choose to sell for your company rather than your competitor?

Presentation Awareness

Earlier this week I was invited to sit in on a lunch and learn presentation that was given by a friend of a friend. The lunch and learn has certainly become a popular and effective way of introducing a business idea, promoting and marketing a company, or simply giving a group of people in the community something of value to make their business better…if it’s done correctly.

Unfortunately, this presentation died before it started (By the way, I speak from experience. I’ve been the pilot of more than one presentation that crashed and burned so I know what I’m talking about).

The meeting was advertised to begin at 12:00 and end at 1:00. It didn’t. Many of the attendees are coming from their corporate jobs so time is crucial. The presenter was sitting at a table speaking one on one with what appeared to be one of his friends and the presentation started just after 12:15. The presenter was a very friendly and funny person, but like me was like a kitten with a shiny object being waved in front of him. The presenter was just simply not aware of what was happening outside of him (i.e. everyone looking at their watches and squirming in their chairs). Way too much time was spent trying to be entertaining and the message just didn’t resonate.

At nearly ten minutes after one o’clock, the presentation ended. The presenter asked for questions (none were asked), and thanked everyone for coming. Once the audience finally received their lunch bills, they hurried out the door and back to work. I'm guessing it was not a very profitable afternoon.

So with that, I present a few (of many) obvious ways to make a lunch and learn more effective;

• Be prepared Having fun and bringing your personality into your presentation can be very effective. But even great improvisation has structure. There is a reason people like Drew McLellan and Adam Carroll make it look so easy.
• Respect people's time Start on time and end on time. Know your audience. In this case, many people were coming from their corporate jobs where lunch hours are actually one hour. If people are stressed about getting back to work on time you've lost them even if they are still in the room.
• Give something of value Again, time is precious. Funny and entertaining is icing on the cake. If your audience doesn't leave with something that can make their job or life better, you've wasted your time and theirs.
• Keep it simple Here is a slide from Garr Reynolds at Presentation Zen on keeping it simple. Think about it.

Have you sat through an awesome presentation lately? What made it great?

Consistency Pays

Jeff Garrison at JCG Consulting (yes we're related) tells a great story in one of his presentations about growing up on the rough and tumble tennis courts of the Midwestern United States.

When he was about 13 or 14 years old, he was competing around the state (Iowa) and on the Missouri Valley tennis circuit (so was I, he was just much better at it).  There were a few kids who really dominated around the state and they all had the same coach, a guy by the name of Allen Jones.  My oldest brother Randy persuaded Jones to work with Jeff.

When they began, Jeff agreed to do exactly what was asked of him.  They started working on his backhand because that was the weakest part of his game. For several weeks all Allen would let Jeff do is hit backhands! It was frustrating for Jeff (and hilarious for me).

When he did ground stroke drills with other guys, they were only allowed to hit it to his backhand.  Jeff was not allowed to play any matches during that time either. Jones knew that under the pressure of tournament play those new habits would crumble quickly.

Eventually Jeff went on to win an Iowa State High School Championship.

Whether it’s practicing your ground strokes, losing weight, or improving punctuality, being habitual in your activity is key. It’s no different in sales. Sales takes work. It takes consistent activity to keep the ball moving. Today, Jeff teaches businesses how to build effective and consistent sales habitudes.

Here are a few of his pointers:

1.    Progress takes hard work!
2.    Acquiring knowledge of a new skill or tactic is only the first step towards progress. You can't read    "The 5 Keys to Doing This or That" and expect to get results.
3.    It takes time to get results.
4.    It takes deliberate practice to get results (one of the Sales Habitudes).
5.    Practice must be done in a controlled environment (like in front of the mirror) where the stakes are low.
6.    If you go into a high-stakes situation without having practiced, when the pressure mounts, your mind will default back to your old habits. If you don't recognize this, you'll just say that the new ideas don't        work.

Failure to Communicate

A lot has been said and is written about active listening. Being a successful sales person is predicated on how well you listen. So why are so few people good at it? I was fortunate to have spent a fair amount of time being formally trained on how to be a better listener at The Improv Olympic (I.O. Chicago). 

Good listening is the key to building great relationships both personally and professionally. But it takes effort.

Keith Rosen of the All Business Blog says "To listen actively and thoroughly takes concentration, hard work, patience, the ability to interpret other people's ideas and summarize them, as well as the ability to identify nonverbal communication such as body language. Listening is a both complex process and a learned skill; it requires a conscious intellectual and emotional effort."

Here are a few things Keith suggests in order to become a more effective listener;

1. Encourage silence to show you are actively listening. Many salespeople only wait a split second to respond to a client's comments or questions. Instead, get in the habit of waiting a minimum of three to four seconds before responding. Even count to yourself to ensure that enough time has elapsed. This conscious pause will make the person feel heard and comfortable enough to talk more, since your pause demonstrates that you have a sincere interest in what they are saying. Although many salespeople find the conscious effort to stay quiet challenging, silence creates the space that will motivate your client to share additional information. It also gives you enough time to respond thoughtfully and intelligently to your client's specific needs. Besides, look at the words: SILENT and LISTEN. Notice that each word shares the exact same letters.
2. Never interrupt while the client is speaking. Obviously, what we were taught as children still applies. Enough said.
3. Be present. Listen with an open mind (without filters or judgment). Focus on what the client is saying (or trying to say) instead of being concerned with closing a sale. This shows that you have a genuine interest in helping them, not just yourself. Otherwise, you run the risk of missing subtle nuances or inferences that could make or stall the sale.
4. Make the client feel heard. This goes beyond simply becoming a better listener. It involves ensuring that the person to whom you are listening actually feels heard. To make someone feel heard, clarify what the client has said during the conversation. Rephrase their comments or questions in your own words in order to ensure that you not only heard but understood them. 
5. Resist the temptation to rebut. As human beings we have a natural tendency to resist any new information that conflicts with what we believe. Often enough, when we hear someone saying something with which we might disagree, we immediately begin formulating a rebuttal in our mind to obscure the message that we are receiving. And if we are focused on creating a rebuttal, we are not listening. Remember that you can always rebut later, after you have heard the whole message and had time to think about it.

An old friend of mine told me one time that you can't learn anything if you're always the one talking. Becoming a better and more active listener will not only improve you personal and professional relationships, it will soon lead to more sales.

Do Candidates Lie?

Do job candidates lie? Maybe not all of them, but many do.

When I worked as a recruiter at Keith Lamb and Associates in Chicago we had a saying: All Candidates Exaggerate. The real saying was All Candidates Lie, but I always found that to be a little strong. Clearly I understand that what candidates are doing is trying to paint a very colorful picture of themselves in order to be selected for a certain position. The difficult part for an executive recruiter is to investigate what is absolute measurable truth and what is poetic license. I've always thought how refreshing it would be for a candidate to be completely candid and straight forward rather than always attempting to justify the hiccups on his or her resume.

So thanks to Steve Roesler at All Things Workplace who shared this hilarious application/resume on a recent blog post. Like Steve mentions in his post, I haven't the slightest idea of the original source, truth, or accuracy of the article below. But you have to appreciate both the honesty and humor of the applicant.

And as far as embellishing on your resume, not only can it damage your credibility, it can also cost you. When Ronald Zarrella, CEO at Bausch & Lomb, falsely claimed to have a masters degree in business administration from NYU, he lost his promised $1.1 million year-end bonus.

A recent article published on Yahoo states that in fact over 53 percent of those surveyed by the Society for Human Resource Managers lie on their resume.

In the recruiting business (just like in sales) the goal should always be to fit a round peg into a round hole. If you have to grease up the sides and force it in with a sledge hammer it may very well come back to haunt you...it can cost you time, reputation and money.

 

Cold Calling Stinks!

Let’s face it. Cold calling stinks! And the fastest way to grow sales and eliminate cold calling is through referrals.

When I started my career in executive search I worked for an IT search firm in Chicago called Keith Lamb and Associates. There was a young guy working for the company who’s name was Chris Gorman.  He was arguably the most successful of the company’s recruiters. What was most impressive about Chris was not his young age or the amount of revenue he generated but how easy he made it look. I don’t think I ever saw him make a cold call.

Chris had this uncanny ability to build unbelievable relationships with his clients and candidates very quickly, establish a level of trust (because of his high level of character and integrity) and he honored the promises he made to those people.

Before Chris ever hung up the phone he would have a handful of golden referrals (sometimes he didn’t even have to ask).  Here are a few of the things Chris taught me about the process of asking for referrals:

• Be quiet. Ask open ended questions then shut up. You have to give people an opportunity to think about it.
• Be specific about what you’re looking for. If you don't you'll end up wasting a lot of time trying to run people and companies down who ultimately will not be a fit. Nobody else can have an understanding of your business development needs like you can. It's up to you to not allow people to waste your time.
• Be honest (Peter Leffkowitz calls this rule "no reusing"). You should always be transparent about your intentions.
• Dig deeper. When someone gives you a referral you should not make a quick judgment but you should pre-qualify that person or that organization before you call on them. Don't just take a name and move on. Ask why. Ask specific questions about the person or the organization in terms of why it would be of benefit for all parties to initiate a discussion. Do as much as possible up front to per qualify the referral.
• Follow up. Always keep the person who made the referral updated on the process of the conversation. And if your business advances based upon that referral, you should always reciprocate in an appropriate manner (a hand written thank you note at the very least).

What steps do you take to minimize or eliminate your cold calling efforts?

Survey Says...

Okay. So it's a blog post and not a game show but I ask you to use your imagination. I prefer to picture Richard Dawson asking the questions rather than that Al guy from Tool Time, but that decision is up to you.

Out of 100 people surveyed (not really), the top five answers are on the board and here is the question:

What is the most important element in your mind when it comes to sales and networking?

1. Jeff Garrison, who blogs about bringing relationships back into sales, says you have to believe in the product or service you are selling!  If you don't, no one else will and you will burn out in a hurry.
2. Scott Jarvis, Vice President of Retail Banking and Business Development at West Bank, says it's critical to create trust as soon as soon as possible. He says in order to do that you have to keep the interest of the prospect in top of mind.
3. Adam Carroll at Adam Speaks says it's all about creating P.O.W.E.R. (Promoting Others While Establishing Relationships). Adam says "When I meet someone I want to promote something that will help them. Your network will expand at the speed which you help others grow."
4. Kelly Timmerman of Mona Vie says when she meets a new prospect, building a relationship always comes first.

Obviously there are many elements that go into creating strong relationships and building sales. Depending on your situation the priority of those elements can change on a dime. This is the difficult part of trying to follow a sequential sales process. I think it's safe to say that at some point in your sales process you will have to work with human beings. Human beings have brains and with brains come emotions. And when emotions are involved, sales becomes a moving target...and you have to account for that.

You can account for that moving target by believing in your product, being trustworthy, helping others get what they need and focus on building honest relationships.

What about you? What is the most important element in your mind when it comes to sales and networking?

Did I Just Say That Out Loud?

Have you ever been in a situation where you said something with the intention of being funny or sounding intelligent and it didn’t work? And not only did it not work but when you said it, prior to the dead silence, you heard the sound of the record player needle scratching its way across the vinyl?

I know I have and it was if the words were floating out in front of me and when I tried to grab them with my hands and put them back in my mouth they eluded me like the cotton leaves off  a summer dandelion.

Salespeople have to be careful not to get too comfortable during the sale (by the way, this also applies to conducting yourself properly in an interview). It’s very easy once a relationship established and a certain comfort level is reached to let down your guard. I’ve been in situations where the person on the other side of the table got so comfortable they actually dropped a couple of four letter words. This kind of lapse in focus can cost you a sale and perhaps even your job. Elinor Stutz at the Smooth Sale Blog has a lot of great ideas to help you navigate and conduct your sales etiquette and activity.

I know it sounds like a “no-duh”, but even the smoothest of orators will open up their mouth and unintentionally insert their foot from time to time. Here is a great lesson on staying focused in the moment.

Whether it’s in a sales meeting, a job interview or a networking event it’s important to have fun and be yourself. Just don’t get too comfortable.

Networking Etiquette (The Basics)

One of my favorite things in life is connecting people. That's what I do. Whether it be in my executive recruiting business or simply serving as a resource for my friends, I get a real kick out of connecting two different parties in hopes they can find common ground and build a relationship. Sometimes I even get paid to do this. But it's not always easy. Not everyone knows and understands there is a certain etiquette to networking.

Just this week I connected two people that both had a need that could have possibly been fulfilled by meeting one another. I introduced the idea of meeting to both people. They both thought it was a great idea. A meeting was set at a specific time and place. When it came time for the meeting, one party didn't show.

No phone call. No text message. No homing pigeon. She just (I guess) decided not to go. I have heard nothing from her since. WOW!

I am stunned, surprised and embarrassed. I felt as if this reflected on me, my character and my judgment. The person on the other end of the "stand-up" was very forgiving and gracious towards me, but also very surprised. So it got me thinking...and here, quickly, are a few basic things I think everyone should know about the simple laws of networking:

1. Show Up. If you have a meeting set up to to meet someone and strategize how we can help each others business grow, show up! I understand things happen which may cause the need to reschedule. No big deal. Just call ahead of time and be prepared to reschedule.
2. Networking requires reciprocity. If someone sends you business, keep them top of mind. Reciprocating a new client is the best thank they can receive, and they will continue working to find you referrals.
3. Communicate. It's critical that you know your story and understand who your target market is so you can communicate it to your referral sources. If you don't know what type of business you're looking for, you'll never get a solid referral. By the way, Mark True will tell you that "everyone" or "anyone" are wrong answers.
4. Follow Up. If someone in your network has been kind enough to pass on a referral your way, do that person the professional courtesy of letting them know what happened. If it turns into business (directly or indirectly) make sure you follow up with a sincere thank you!

It's all very simple, really. Just treat other people the way they deserve to be treated. Isn't that the golden rule? What other suggestions (laws) might you suggest for great networking?

The Rule of 10

I believe in the power of social media. As a matter of fact, I just recently used both Twitter and LinkedIn to to ask for help on a project I'm working on for a client. The response I had was impressive. And within a couple of hours I was given referrals to other people who were very helpful to me. By the same token, I have also found myself being to reliant on this tools. You can talk to a lot of people at one time but how do you know if you're talking to the right people? Clearly I have a lot of learning to do.

Now, I was one of those kids growing up (like many of us I suppose) that thought my dad was totally full of bologna.  He was always passing on ridiculous, esoteric advice that he learned from being in business back in the 1960s, 70s, 80s and 90s. I mean what can a guy who's been a part of the life insurance industry for nearly 50 years teach me? Well, plenty. And here's a piece of advice he gave me years ago that I will never let go of.

Talk to at least 10 people a day about your business. This does not mean leaving a bunch of voice mails. Your spouse does not count as one of those 10 unless she is a potential client. I'm talking 10 people in your industry who have an influence on growing your business. And better yet, get face to face (or as my dad would say, "belly to belly") with these folks as often as possible.

If you talk to ten people everyday five days a week fifty-two weeks a year (for those of you who don't celebrate holidays and take vacation)...well you do the math. It will not take long for the people in your industry or niche to know who you are and what you do!

And if you can couple this advice while also learning to use social media as an effective sales and marketing tool, you'll stay miles ahead of your competitors.