Delivering ‘Value’ through Lean Selling

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In this 3 minute video, Inform partner Wayne Moloney talks with Sales Mastermind John Smibert about the meaning of the word ‘Value’ in the ‘Lean Selling’ model.

Wayne explains that ‘value’ is by definition is “anything the customer is willing to pay for”. He goes on to say that it is vital that we need to assess everything we do in the sales process to ensure it is creating value for the customer – by doing this, and ensuring we are not doing anything that the customer does not value, we will maximise the return from our selling activities. In doing so we also reduce cost by avoiding wasteful activities.

In this interview Wayne tells us a story about a company who achieved outstanding results by applying these principles

This is one for sales leaders, CSO’s, CEO’s and CFO’s who are striving to improve sales productivity and grow profitable revenue.

See more of the Talking Sales series here

Growing Your Business with Lean Sales

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Inform Partner, Wayne Moloney has recently been invited into Sales Masterminds Australia. Wayne, who said he was “pleased and humbled to be invited into this elite group of peers”, recently participated in the Strategic Selling Groups ‘Talking Sales’ series of interviews with the Founder, John Smibert. In this first interview, Wayne introduces us to the basics of Lean Sales.

See more of the Talking Sales series here

Risk of Too Few Customers

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Concentration Risk! Not a risk with concentrating so hard your brain hurts, but the risk associated with your business being reliant on too few customers.

For many businesses, once they win the first BIG deal there is a feeling of excitement and achievement. You’ve finally got that deal that will deliver the revenue you have been chasing and allow you to set in place the business operations and processes to deliver the profits you have been targeting. The problem for most businesses is the fact that this win often drains resources and there is little or no follow-up to generate more significant sales. The risk is obvious, if this customer leaves, for whatever reason, your business is vulnerable.

Read more →

Smart Sales People Don’t Fear Being Replaced Online

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Way back in 1999 as the national sales manager of a major Australian telco, I sat in on a presentation on what I was told would be the future of sales. According to what was presented that day, the future for any sales person was gloomy at best. The internet was going to revolutionise the way we transacted business. Regardless of whether it was B2C, B2B or any combination, we were to be replaced by online platforms that would allow people to buy everything from cutlery to cars, books to buildings.

Fifteen years later and the sales person is as important to any business as ever. In fact the internet has delivered sales people tools that help them be more valuable to both their companies and their clients. And make them more successful.

While statistics can be manipulated to make any argument look good, consider the following while you ponder the future of the sales person. Read more →

6 Things Successful Sales People Know

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Success in sales doesn’t just happen, well not continually. Sure we have all had a ‘blue bird’ from time to time, but to enjoy long-term success in sales you need to work at it. This doesn’t suggest I am taking sides on the debate on whether sales people are born or made. Regardless of where you sit on that argument, success comes to those who put in the smartest and greatest effort.

Here are 6 things I have found consistent with those sales people I have worked with and who have enjoyed the greatest success: Read more →

Selling Services – It’s Still About Relationships

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Selling services is inherently more difficult than products because your client cannot ‘touch and feel’ what you are delivering. Unfortunately, this leads many businesses and sales people to promote themselves and their features and forget about the most important individual in the transaction – the customer.

Like in all selling, people buy services from businesses and individuals they know, like and trust. It’s still about relationships. So for any business that sells services, building relationships is critical to their success.

To do this there are a few things that businesses and sales people need to keep in mind. Read more →

Simple Measure Create Sales Success

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Over the years I have been surprised to see how many business owners and managers measure their total sales, cash flow and profitability – and micromanage where not necessary – only to fail to give consideration to individual measurements that can really help them understand their business. This is particularly so in sales.

KPIs (Key Performance Indicators) are a critical tool for any manager wanting to stay on top of their business and understand underlying trends – in sales it is no different. Measuring sales efficiencies at different points in the business (individual, region, product etc) can provide indications of poor performance and allow early intervention. Read more →

Sales Consulting

Networking for fun and business

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Some time back I wrote a blog that suggested you should ‘play golf to grow your business’. This was based on UK research that suggested sales people and business executives who play golf experience an 85% better chance of securing a business deal on the golf course than through conventional methods of marketing.

Now not being a golfer I didn’t get to take my own advice, so I started to think about what I had in common with my key clients. Apart from the fact I was lucky enough to get on very well with each of them, the was something blindingly obvious. Several of us were keen motorcyclists, we each had a sense of adventure and enjoyed travel. I also knew that each of them could benefit from the services or products that some of the others provided. There appeared to be the germ of an idea here. Could we get away on our bikes and combine business with pleasure? Read more →

Sales Consulting

Perfecting Your Sales Presentation

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The following tips will help you perfect your sales pitch so you are presenting your product or service in the best possible light for your prospective client.

Know your prospect
It is vital that you have a solid understanding of your potential client’s business. You can use the Internet to do some background research on their company. Start with having a look at the company’s own website, which should give you a good overview of the business, then follow up any sites that look like they might provide further insight – maybe they mention other firms they do business with and that you will be competing against. Read more →

Sales Consulting

Profits from efficiency – are we missing the obvious?

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Many organisations, big and small, have focussed on efficiencies, reducing waste, reducing costs to improve their bottom line and profits. So what is wrong with this? Nothing apart from one significant point – a single focus on increasing efficiencies through Lean and Six Sigma (or good application of continuous improvement) will lead to additional capacity and no sales to fill the capacity gap.

Not the best application of good business strategy. Read more →