Aug 4 in General discussion
5 Rules for Sales
As humans, we are wired to find patterns. These patterns teach us about our world and make our lives easier because we can avoid making the same mistakes over and over (although I still break some of these rules and pay the consequences). Five patterns or RULES I found in sales are:
- Don't assume deals are closed... until they actually are
- Always have a next step
- Momentum can be created
- Prospecting can never stop
- Not all activities are equal
- Don't assume deals are closed... until they actually are
I have lost many deals by assumptively closing them in my mind. Whether the DM (Decision Maker) gave me a verbal "YES" or the key stakeholders were zoned in on our last meeting, NO DEAL is truly closed until they sign the dotted line. As top performing sales reps, it is our job to stay on top of the deals until they cross the finish line. As soon as you let off the gas, the deal can (and most times will) start to stall. Push through with communication, proposals, and negotiations until the very end.
2. Always have a next step
I was not great at this early in my sales career. I would have a great call or demo and my prospect would play the "we just want to chat about it and we will get back to you to schedule a call" card. Rather than pushing through that objection and booking a follow up, I would accept their brush off and just wait by the phone for them to call. This is what desperate teenagers do that don't know they just got broken up with. Don't fall into this trap. Always book a meeting from a meeting and have a CLEAR next step on the calendar. This will ensure that the deal is not lost in your CRM and loses all the momentum you worked for. Before the next meeting, make sure you follow up and REQUIRE something from the prospect. Honestly, it doesn't matter what you ask for, it only matters that the prospect puts some skin in the game.
3. Momentum can be created
I wrote about this last month, but I am a firm believer that building momentum is a discipline. When your pipeline feels drier than the Mohave, you just lost a huge deal you thought was in the bag, and your kids are keeping you up all night... you can still build momentum. One good cold call, a prospect responding to your email, or a Linkedin request accepted is all it takes to pour more gas on the fire and get to work building on that momentum. Find the little sparks and turn them into a bonfire. For me, when things are slow and it feels like nothing is happening, the quickest way to build momentu, is to start ripping dials until someone picks up. There are few things that get me moving faster than finding a new prospect. You can create your own momentum, it just takes discipline and knowing where to look. We are speedboats, not sailboats.
4. Prospecting never stops
This is the GOLDEN RULE. If you never read anything about sales again, know this... Prospecting never stops. There will never be a day when your pipeline is full enough for you to stop reaching out. Many of us (me included) hate this idea. The cold calling, cold emailing, and Linkedin outreach can be the most rejecting and defeating part of our jobs... yet they are the core to everything we do as sales reps. When I transitioned from a BDR to an Account Executive, I was assigned to work with a BDR that would be doing outreach for me so I could focus on closing. Had I taken the bait and stopped self sourcing and working partnerships, I would have made a lot less money last year.... and the year before... and this year! Keeping your prospecting muscle strong is the lifeblood and longevity to a thriving sales career. You will never be skilled enough to not have to prospect. Now... time to rip some dials
5. Not all activities are equal
This rule takes time to learn, but once you do it will pay dividends. The 80/20 rule states that 80% of the results we get as sales reps come from only 20% of the activities. This can be a hard pill to swallow in a career that is difficult to know if you're being effective or just spinning your wheels. I have wasted a lot of time on non-revenue producing activities. The worst part is, most of the time it feels productive. Some examples of these in my industry (SAAS Sales) can look like: staying up to date on all slack channels, joining every meeting I am invited to, over obsessing on non important aspects of the sales process (i.e color scheme on a proposal), and working deals that I instinctually know are not going to work. It takes time to figure out what works and what is just pseudo productivity in your sales career. Once you know, however, you are now responsible to stay disciplined on as many of the RIGHT activites as you possibly can fit in your day. Everything else is just noise.
What are some of your rules for sales?
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5 Rules for Sales
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