HOME
Sales Mainpage
Enquiry
|
The Trends Of The Entrepreneurial Economy
by Gerry Robert
Worldwide pressures and trends are forcing a reorganisation of many sales
and bureaucatic organisations. Fueled in many ways by the microchip which
is ever increasing in speed and power, leading corporations are shifting
and redirectiong their economic relationship. As is evident in the West
and ever increasingly here in Asia, companies are striving to cut costs,
streamline their operations and replace people with technology.
These effects are already being felt by many people today. Learders in
all sectors who are unable to cope with these changes will be forced
into dangerous territory. The effective way to win in the next few years
will be to indentify the entrepreurial trends and mster the strategies
that will remain valid over the next decade regardless of the changes that
will take place in the market place.
Thriving in the next decade
Dan Sullivan in his recent book, The 21st Century Agent, while directed
primarily at the insurance industry had this to say, which applies to all
of us:
"Since approximately 1970, all of global society has been to some degree in
the process of making a Great Crossover - from a world based primarily on
politics to one where the primary organising structure is economics. For
the next 50 to 100 years we will see two dominant phenomena in the world:
* The growth of global economic systems and networks based on the principle
of unlimited entrepreneurial expansion; and
* The diminishing, and collapse of national government based on the principle
of bureaucratic control, regulation and intervention.
For many people, whose hopes and dreams are based on entrepreneurial risk-
taking, this will be a wonderful time to be alive. It will be the greatest
period of entrepreneurial opportunity in history. It will be a time filled
with excitement, creativity, success and satisfaction.
I have identified some of the trends I see as vital to be aware of in order
to thrive in the next decade and also some corresponding strategies, if
adpoted, will ensure personal and corporate health. These trends are vital
for long-term planning, obviously, but also important to salespeople who
want to remind on the cutting edge of innovation. Without awareness and
action driven by these worldwide forces, this is little hopes of maximum
optimisation of potential in amy industry.
TREND #1: Focus on goals rather than on results.
Admittedly, this trend is not new. It is however vital for us to consider,
partucularly as we entetain innovative ideas and methodologies. There
is a tendency for people to direct their energies to their present results
rather than on their goals.
If you think goals were improtant in the past decade, you will be astounded
as to how important they will become in the next. With the emerging
technology and the ability and acceptability for re-engineering, re-focusing
and paradigm shifts, without well-thought out written goals, staying in the
course will be a real challenge.
In addition to the obvious attitudinal benefits to focusing on goals, we also
see a certain strength in those individuals who have the ability to keep on
track even when everything around them seems chaotic. The salespeople or
organisation which dwells on well thought out goals will be able to survice
the upheaval of the new economy.
It's not the experiences of life which cause our results, it has more to do
with our self-talk, attitude and programming. I have found that when I get
my eyes off my goals, my eyes quickly hone is problems, challenges and
obstacles.
TREND #2: Focus on attaction rather than rejection
The old cold calling approach based on the Rejection Model of selling
is gone. Only those who are willing to consider a new approach wil survice
in the next decade. The organisations and individuals who can somehow
attract the right type of prospects will have a much better change to gain
market share.
Most organisations focus almost exclusively in chasing "new" business. I
would much rather focus in on selling those people and companies which are
"know" to me. The notion of knocking on 100 doors to find the one who
will buy seems outdated to me. It is like lighting a house with candles
when we have electricity at our disposal. This trend will cause people
to suffer unless they become a human magnet for hot prospects.
One reason why this is so, has to do with the problem most organisations
and salespeople face and that is the shortage if hot prospects. No wonder!
Most people are using the needle in the haystack approach. Keep searching,
searching, searching for someone who "might" buy instead of attracting a
constant flow of people who are predisposed to buy what you sell.
There is no such thing as call reluctance when you have to call someone
back who has called you first. There are many possibilities for attarcting
your target market. If you know exactly "who" you are targeting,
(and most companies don't), if you know where they hurt, (and most companies
only guess) and you talk about how you can solve their problems (most don't,
in favour of touting on and on about themselves) then you can make the
one's who are most likely to buy from you - call you! Just imagine how great
you would feel today if you had 300 leads to follow up of people who called
you looking for more information.
What will attract them?
* An event will - seminars, forums, discussions, parties, VIP events,
private meeting;
* An offer will - free anything, related to what you sell will make them
come out of the woodwork;
* Information will - people are starving for information, provide it and
they will come to you; and
* An interesting problem-solving solution will.
I was kidding an audience recently because I was speaking to several
insurance managers and I asked how many are actively involved in recruting
and would like 100 solid leads. Of course, all the managers put up their
hands.
Here's what I suggested, (which I know would attarct 100 solid leads).
"Write a booklet entitled Make MDRT in 12 Months Absolutely Guaranteed.
12 Sure-Fire, No-Fail Methods to Win in Insureance." If they put an ad
in the paper and offered that Free Book, their phones would ring off the
wall.
Attraction versus rejection.
TREND #3: Focus on relationships and avoid manipulation techniques
Okay, this is a pet peeve if mine. I'm always taking shots at those
so-called "motivational gurus" and world-renown sales masters who espouse
all the "power closing" manipulation tricks. I can't help it, it goes
directly against this central trend of the new economy.
Mr Gates thinks about the long-term, not the short-term. He is intersted
not only in selling you some software, he'd like to sell software to your
kids and their kids and their kids' kids. He is focused on the "forever"
not the "now".
Whenever I see sales manipulated I wonder if the salespeople really knows
how much it costs them to risk the relationship? I wonder if they have ever
calculated the long-term value of a customer. If you manipulate customers
you might close some, sure but over the long-term you will lose.
The entrepreneurial economy that is emerging will direct you to a "marriage"
model rather than a "one-night stand" model of selling.
You know what happens with the one-night stand, don't you? Okay, some of you
don't. Here's what happens. A young man will go to the local bar, looking
to meet a beautiful young lady. He is hoping to make "the sales" that night.
(I don't need to go further, you get the picture!) He will say almost
anything to "close" the deal. Truth is not important, exaggerations are
acceptable. Intentions are obvious and sometimes fruitful.
When it comes to sales and marketing, the problem is that sometimes the
"one night stand" approach works. But the money, the real money is in the
"marriage" model. If you are selling and not communicating regularly with
your past clients, if you are selling and not nurturing the long-term
relationship, then you are using the wrong approach. In the next decade,
this is one of the surest ways to sales poverty. Get committed to the
"forever".
As Sullivan has said in The 21st Century Agent:
"Microchip law 6: The microchip disintegrates all human work except
cretivity and relationship. Creativity and relationship are the two
abilities that make us uniquely human, and during the 21st Century these are
the only two areas of meaningful work that are safe from the encroachment
of microchip based tools, systems and networks.
The money is in relationships.
TREND #4: Develop loyalty and avoid loss of loyalty
Market share, profitability and long-term viability wil be given
proportionately to the level of loyalty you engender in your client base.
Why are referral rates so low? I've surveyed tens of thousands of people
in Asia and they tell me that of all the businesses they wrote last year,
less tham 10 per cent came from a referral. That's horrible. Does that
happen with loyalty? I should think not!
How do we develop loyalty?
Loyalty is developed by regular, customer-centred contact. Is that what
most businesses do today? Is that what the leaders of the new economy
will do? You bet! The fastest way to ensure loss of loyalty from the
client base you have is to provide infrequent contact which is primarily
focused on you instead of them.
Typically, what happens is that contact whenever, if ever, is made if
focused on something to benefit the salesperson. That does not foster
loyalty. Loyalty is to sales success as fuel is to driving a car. You
cannot have one without the other.
Do you have clients that you have not contacted in the past six months?
Shame! You wonder why you are not making the money you want to in sales?
When you contact them, are you simply trying to get a referral, another
sales? You cannot have a good marriage which only fucused on "getting".
Another key point to keep in mind is that people don't care about you!
They care about themselves, their problems, fears, desires, challenges
and obstacles. So why do you contact them so infrequently and when you do,
you focus on the thing they are least interested in? You!
Why not try finding out what they need, what interests them, what motivates
them and let that be the focus of your communications with them? Why not
send them articles, magazines, cartoons? Develop the relationship to the
point that they are loyal to you.
TREND #5: Make use of multiple marketing vehicles rather than depending on
ineffective conventional methods
Bob Proctor is right when he states that most people are "unhealty,
unhappy and broke!"
So why we would follow the masses? My philosophy of life that if everyone
is going to the right, Gerry Robert is going to the left. Conventional
wisdom, although pervasive, is hardly the surest way to sales success.
If the best advice you have for a new salesperson is "make a list of all
your friends, relatives and former class mates and start calling them,"
then you (and them) are in big trouble.
Why not consider using some unique, alternative marketing ideas. Why not
create a personal brochuse for yourself? Why not hold a seminar to attract
prospects? Join Toastmasters, a non-profit worldwide organisation which
will help you develop your public speaking skills? You could write a book
or booklet, or surely a special report. Do it! Produce a monthly audio
newsletter and talk about the trends in your industry and review a book
and offer it for free to prospects?
Why not sond out postcards, with a catchy headline stating some impressive
benefit for calling you. What if you sent out 100 cards offering a free
Special Report? You would have more leads than you know what to do with.
TRENDS #6: Focus on differentiation and avoid "SAMENESS"
One of the surest ways to lose big time in this entreproneurial economy
is to be like everyone else. There are probably hundreds, if not thousands
who sell what you sell. Why should anyone buy from you and not them?
Because your company has been around since 1944? Big deal! Who cares about
that? Except the founder's grandson who is now the managing director,
I suppose. One of the fastest ways to gain huge strides quickly is to be
different than everyone else who sells what you sell, including people
right within your company.
A dry cleaner in the United States takes a Polaroid of each new customer
to make them fell special and so the counter staff can remember their names.
They offer a free service to customers, that when the customer buys new
clothes, the dry cleaner will hold on file the extra thread, buttons and
cloth for future use if needed. Brilliant.
It is not easy to stad out from the crowd, most people are asleep. I recently
did a speaking tour of Malaysia which was underwritten by Pacific Insurance.
They have a major thrust to be different in the market place.
They want to be seen not only as good general insurer but as unique in the
market place. Some new products and new company-wide initiatives will
indeed do that for them. This is the trend of the 90's - differentiation.
TREND #7: Focus in money-making activities and delegate all "stuff"
"Stuff" is anything that does not generate revenue. Sometime, calculate
how much time you actually spend on money-making tasks and how much you
spend on non-money-making. You wil be surprised. My guess that you spend
less than 20 per cent of your time on none-money-making activities.
Think what this means. If you earned RM50,000 last year and you did that
with only 15 per cent of yor time on money-making time, imagine what would
happen to your income if you increased your money-making time to 40 per
cent?
You don't get a commission from playing on that stupid computer, do you?
You don't make money shuffling papers, filling reports, filling out forms
do you? Of course, some of that is important stuff. Still, why do you do it
during prime selling time? Why don't you hire someone to work one or two
afternoons or evenings? It is plain silly, if you have the ability to earn
a lot of money for you to be stuffing envelopes when you can hire a student
to do it for next to nothing.
Here is one of the wisest sayings you will ever get from me:
Get out of the office.
|
This Website Designed, Hosted & Marketed By:
WWW.MALAYSIA-BEST.COM
Internet, Marketing & Business Resources
Note: This website is created with the aim of providing a place for
Marketing personnels, executives, students, entrepreneurs, CEOs, COOs, COEs, and
business owners to communicate, share and learn from each other,
marketing techniques and strategies, business ideas and opportunities.
Instead of the traditional "negative competitive mindset", we can all benefit more
from a new WINWIN paradigm we call "positive collaboration mindset".
Instead of competing with each other blindly, and wasting much precious resources,
we can instead work together to produce
better products and services that satisfy the increasing expectations and needs of our
customers. In the new millenium, only companies that come together to work together will
eventually survive and make profits.
Apart from business ideas and strategies, this website will under permissible circumstances,
offer reports and articles that help enhance our life. It is often said that we can change our
life for the better while at the same time build a better world, if we put to practice our new
mindset and make an effort to help others as well, while we are working towards our dreams.
Through positive discussions and exchange of ideas, we can all inspire each other to great
heights. The most important thing is that, we believe that we can all help each other in life
and to achieve our dreams. Yes, we can all make this world a better place :)
If you happen to come across any broken link on this website, please inform us. Thank you and please
come again.
This Website Best Viewed With 800x600 Resolution
Copyright © 1997-2000 MBC Marketing And Business Resources.
All rights reserved. All trademarks are the properties of their respective owners.
Last Updated on March 15, 2000 Wednesday
For further information, please contact: webmaster@awesomelife.com
|
|
|
![[Awesomelife Logo]](../../alc-logo-med2.gif){kind=logo}
