Sales is Entrepreneurial Thinking

If you’re a salesperson who is paid all or part on commission, you’re not just an employee. You’re an entrepreneur, and if you want to be successful, you need to think and work like one.

Unlike traditional employees, how well you perform may mean the difference between paying the rent that month with some change left over, or coming up short. That’s the thing about sales. It sometimes seems that you either knock it out of the park or see a lot of bagels on the scoreboard.

It’s the same for someone starting a business. Entrepreneurs work by visualizing the goals they wish to achieve and plan accordingly.  They know they have to frontload the work at the beginning if they want the big payoff down the road. Successful salespeople do the same thing.

Start by doing what an entrepreneur does, and make a business plan, in writing. Start by visualizing where you want to be in, say, a year. Do you want to make $50,000? $100,000? Plan backwards from then to now, detailing the steps you need to take: How many calls, how many follow-up calls, how many emails, and so on. Your book of business starts with the first solid name you’re able to write in.

An entrepreneur knows you can either let things happen, or make things happen. So should you.

Here’s some useful information in helping create your personal business plan.

·         Eighty percent of sales require five follow-up calls, but forty-four percent of salespeople give up after one call.

·         The average salesperson makes eight dials per hour and prospects for 6.25 hours to set just one appointment.

·         Fifty percent of sales go to the first salesperson to contact the prospect.

·         In most companies with 100-500 employees, about seven actually make the buying decisions.

In other words, it takes a lot of prospecting to get a few good leads, and of those leads, only a few result in a sale. One major real estate brokerage used to teach that it took nine solid leads for one possible sale. Your business plan, then should say how many contacts you’re going to make every day, who they’ll be, and how you’ll contact them—telephone, email, or internet.

You need both quantity and quality. If your business plan goal is $75,000, and each sale averages $5,000, then you have to create 15 solid prospects. How many contacts do you have to make per day to get the magic 15? A hundred? 150? 200?

“I’ll buy $10,000 of whatever your selling,” said no lead, ever, on the first contact. Leads aren’t numbers, they’re people, and they need nurturing. Nurturing a lead doesn’t mean pounding her or him with a sales pitch every time you get in touch. It means you let that person know you’re thinking about him and his company’s needs. Send product updates or price changes, special deals, or maybe just a news clipping about something that person is interested in—say, a favorite sports team’s latest acquisition, or maybe something engaging you saw on Pinterest you know they’d like.

Speaking of which: Top sellers use LinkedIn six hours per week. Just sayin’. How much time do you spend there? Is your profile not only up to date, but polished?

Your sales book is your personal business, and you need to think like a business person to make it work.

Thank You Jimmy Valvano

This morning I had the pleasure of waking up to Jimmy Valvano's speech on Mike and Mike (Jimmy V Espy Speech). Couldn't be a better way to start the day. His speech that night was by far one of the most inspirational speeches of all time. He Delivered it at the Espy's after receiving the Arthur Ashe Courage Award about 2 months before his passing. There have been some amazing people that have been given that award since, including my friend George Karl (who by the way couldn't embody that award any more). They remind us every day about the power of the mind and the fortitude of the soul. The part in his speech that resonates the most to me is when he explains how he gets through each day fighting his battle with Cancer.  He says there are 3 things you should do every day; Laugh, think (spend some time in thought) and have your emotions bring you to tears, tears of joy.... if you can do those things, that's a full day. These things he suggest we should do are the mark of passion. You should wake up every day and be passionate about your life, your family, your friends and your craft. If you don't love it, don't do it.  You are wasting time my friend and time is valuable.

I walked into our new Native Rank Chicago office this morning, took a deep breath and glanced over our 4000 square feet of new opportunity.  It was so quiet I could hear my own heartbeat.  I saw brand new empty desks that will soon be filled.  I saw empty walls that will soon have art.  Fifteen computers that will soon be producing.  I realized what needed to be done and the excitement over took me.  I have the power and support of so many people.  I have people that believe in me and know what I can and will accomplish.  People that know I fully understand the task at hand and will succeed at any cost with hard work perseverance.  I know that the great advice that Winston gave me to move systematically, slowly and with purpose means so much right now.  It was this moment I found myself going through the three emotions Coach suggested. I didn't mean to, it all just happened as it was supposed to. 

I found myself laughing out loud.  I laughed because I realized the ridiculousness of what I have been through with the 6 other guys that helped build Native Rank over the last two and half years. Somehow I blinked and by the end of our third year we will have over 100 employees, 4 locations and millions in revenue.  Wow, we did what?  I guess it's like watching your own kid grow, it just happens.  The yelling, the laughing, the crying, the passion you see every day in our office can be overwhelming for some, but for us it's perfect. Picture an Italian family of 20 at dinner after 5 bottles of wine... that's our office every day. Like or not, it's how we roll. It's passion, love, hard work and dedication at its best.  Any one of those 6 people would take a bullet for me at any moment, as I would for them.   

I took a deep breath at that point and took a moment to think. I thought about what we are doing, what we have done, what we are going to accomplish, the process to get us there and the mental toughness it takes every day to be great.  Turns out starting a business from scratch is hard work, it's not glamorous, but the payoff is. They don't teach you this in school.  It's deep within you and you have to want it every day.  Fortunately I have a Father and a Grandfather who were entrepreneurs, damn good ones, so it's in my blood.  I have always loved this quote from Mark Cuban, "What does it take to be a successful entrepreneur? It takes willingness to learn, to be able to focus, to absorb information, and to always realize that business is a 24/7 job where someone is always out there to kick your ass".  Well, we have learned, we are focused, we are constantly absorbing more information and we are kicking everybody else's asses 24/7.  This group won't lose focus and we won't fail.

I cried.  Awkward, I know.  Being alone in an office going through these three emotions was probably one for the ages on our security cameras.  Perhaps like an old Charlie Chaplin silent movie but not as fast. I cried because of how proud I am of every person I work with, everyone in my life I miss so much right now, all the experiences I have been so lucky to have and the vast unknown of what is in my future. It is so exciting to know that I am going to knock something so big out of the park.  This is what drives me to get up and do my best to be great every day.  Today, you can call me Jeter.

Like Derek Jeter, I always preach Consistency.  I teach it to all the sales people I work with.  I try my best to practice it in life.  I just believe so much that if you are consistent, if you just show up, if you never take a break from your goal, you will achieve whatever you can imagine.   The top sales people and leaders in our office are the ones that show up every day, don't complain and just grind it out.  No matter what, they fucking grind it out.  That's what winners do.  If I could possibly add anything to what Jimmy V has said, I would say Laugh, Think, Cry and be Consistent. For God's sake, just show up every day and work with passion, work like someone is going to take it from you.  

What are you going to do today?  I can tell you with 100% certainty I am going to do what I try to do every day and just show up, work my ass off and make my friends and family proud.

Ben Metzker

Vice President Business Development, Strategic Partnerships

www.nativerank.com

ben@nativerank.com

Skype:  ben.metzker

Denver Office Direct:  (303) 524-3796

Chicago Office Direct:  (312) 229-0069

Cell: (720)635-8026