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You are Measured by Transactions Not Income by Peter Collins





You are Measured by Transactions Not Income by
Article Posted: 12/08/2015
Article Views: 828
Articles Written: 97
Word Count: 947
Article Votes: 272
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You are Measured by Transactions Not Income


 
Business,Marketing,Sales
I was once told, that unless you're a celebrity or rock star, you won't get rich by being paid an income. A little while ago I read the same thing, which prompted me to think it through more carefully. In reality, most people only get rich or increase their wealth through an equity portfolio. I recently analysed the 2013 BRW (Business Review Weekly) Australia's Rich 200 list and found of the 93 who had amassed fortunes exceeding $100 Million, 52 seem to have made their money solely from property development.

It would be fair to say that all 93 have substantial property holdings and have used those holdings to further increase their asset portfolio. As a matter of interest, the average age of the group was just over 61. Each of these people earned their position primarily because of their ability to transact effectively, not the incomes they command - no matter how sizeable they may be.

Throughout the world today, people who are successful are always measured by the 'deals' they've done, and not by the income they've created from any one 'deal'.

A great salesperson will do as many 'deals' as is possible - even if on some of them, no money is made.

People always gravitate to those with a history of consistently doing 'deals' - because they're the ones doing while others are just talking - and they're usually the ones who are the more successful of the others in the group.

Here’s a Hint – Try Selling by Strategies

Strategies lead to critical paths and critical paths lead to focused selling through market planning. If that's too heavy for you, it means you need to know the difference between a strategy and a tactic. A strategy is the process you follow to reach an objective, and there are three types of strategies:

(a) The Acquisition Strategy - your plan for new customer acquisition. (b) The Retention Strategy - your plan for maintaining them. (c) The Growth Strategy - your plan for up-selling and cross-selling

As starting points these are about as good as you'll get, but to further improve your overall strategy, you will need to align these with your objectives - and not all three need be used once your objectives have been taken into consideration. And if all three don't dovetail into your origan company model for strategies and objectives, don't try and make them fit. You'll only waste your time and cause unnecessary frustration.

Say if you were planning an 'acquisition strategy' of increasing sales by 10% in New South Wales by December next year, you will need to identify the exact strategies need to achieve this end. They may be: acquire more outlets; provide better initial discounts; make more training available, etc. There is no magic formula to create the strategies that will work best for you. However, if you follow the above guide-line, you'll be well on track.

Let’s Highlight “The Bests” for Sellers

The best definition I've ever heard of an argument is, "An argument is simply a discussion that has got out of control." And never lose a friend or a sale over an argument - the cost is too high.

The best reason I know to follow-up, is if you don't, your customers will believe you're indifferent about them. Now try and get a referral from someone who becomes indifferent about you simple because they believe you're indifferent about them

The best way to dissipate pressure is to smile, then shut up. Over 95% of the time they'll smile back, or simple say, "OK", or, "Let's go ahead".

The best way to maximise your training is to balance out your input. 80% of what you learn should be skill based training and 20% product training. If your company provides you with product training without skill-based training, you should work at balancing these percentages yourself. Otherwise your growth could be stifled.

The best way to resolve a conflict is to ignore opinions and concentrate on the points you both know to be fact.

The best way to sell is to look natural, but it takes time and hard work to know how to appear to look natural and do the job well.

Customers Remember us – Good or Bad

Customers are a peculiar lot. Some remember what we do, but most remember what we don't do. And it's the salesperson that does what the prospect least expects that usually gets remembered and talked about the most.

Be Bold and Courageous – Not Timid

Learn to become bold and courageous. Timid and indecisive people are neither admired or respected by anyone but themselves

*****************************************

This Article is by Peter Collins - In a sales career spanning more than 50 years, Peter Collins has focused on helping and bringing out the best in others - whether it involves training or mentoring salespeople, managers, business consulting to SME’s. Since the 1970’s Peter has built a reputation as a Nationally and Internationally Published author, and has 65 books to his credit, but he is mainly known for one book based on the Audio Tape series of the same name, Over 50 Ways of Closing the Sale. In his personal life, Peter has been sought after as an encourager and motivator that has given of his time and talents freely despite his busy schedule. Subsequently, he has assisted churches, pastors, community and charity groups, as well as individuals through his teaching, training, development and on-going mentoring. © Copyright Peter Collins, Profit Maker Sales, Sydney, Australia, 2015, all rights reserved. Peter can be contacted through his website – profitmakersales.com - Submit your articles to AMAZINES.COM

Related Articles - Peter Collins, profitmakersales, sales, selling, marketing, professional selling, you are measured, measured by transactions not income, measured by t,

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