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How Do You Use Your Sales Commissions?
What do you do when you have a big sales week, month or quarter? What do the other salespeople you work with do with their money? Do you "reward" yourself? Do you "invest" in your future? As salespeople we are notoriously known for the amount of toys we buy with our commissions. Killer stereo systems. Picture Cell Phones. Titanium Palm Pilots. Luxurious new clothes. Expensive lunches. Partying with our friends. We say "I deserve this." I know that's what I used to say. Sales is hard. It gets all of our emotions riled up. Excitement. Fear. Anger. Juice. The thrill of the kill. Your emotions are intense and very real. So you want to reward yourself. Rewarding yourself, is your way of feeling good after all you put yourself through to make the sales you did. It's a natural reaction to going through times of feeling fear, frustration, and stress. Before we close another big sale we often feel fear. Fear that you won't close again. Fear that you've lost your edge. Fear that you will get fired and lose your job. And then when you do make the sale, WHAM! Excitement! Elation! Relief! It's time to play! This rollercoaster can be a lot of fun. But it also can be costly to your future. Sales offers a real opportunity for men and women everywhere to make large sums of money and get out of the rat race. The more you say "I deserve this" and "reward" yourself with toys and indulgences, the longer you be working for someone else in sales. If you want to eventually get out of the rat race, you've got to have a reward system that will help you do it. Consumption rewards just bandage you up and make you feel good for a little while. Then you are back at the sales game again, looking for more sales and the cycle starts over again: fear, frustration, stress, win, excitement, reward. I know. I've been through this many times myself. I can remember one of my first big sales wins. I took my sales partner and our wives out for a luxurious dinner at a restaurant that I was very impressed with. It felt great that night to dine well and drink champagne. But the next day I was worrying about the next deal, with a few hundred dollars less in my bank account. I repeated this pattern of pain - win - reward for many years before I realized what I was doing to myself. Then I changed my focus. I focused on the future, and set some bigger goals for myself. I changed my reward system. I now measure my rewards in terms of how much closer I am getting to complete financial independence. Consumption is nice, and my family and I do live well. But I am much happier focusing on the day that making money will be optional and not a necessity of my daily existence. It's important to budget your commissions intelligently. When you get a big commission check, take a substantial portion of it and save it. Build up your financial stockpile. Set better goals for yourself. Goals such as "I want to make $200K this year" aren't enough. You need to be more specific. You need to set goals for what you will do with this money (hint: complete financial independence is one of mine). What you'll find when you build your financial stockpile is that the fear, frustration and stress you experience decreases. And by setting bigger and better goals, you'll find it easier to build your financial stockpile because you'll have highly motivating goals to keep you on course. After all, did you really get into sales to just so you could buy the latest and greatest cell phone every year? © 1999-2004 Shamus Brown, All Rights Reserved. Shamus Brown is a Professional Sales Coach and former high-tech sales pro who began his career selling for IBM. Shamus has written more than 50 articles on selling and is the creator of the popular Persuasive Selling Skills CD Audio Program. You can read more of Shamus Brown's sales tips at http://Sales-Tips.industrialEGO.com/ and you can learn more about his persuasive sales skills training at http://www.Persuasive-Sales-Skills.com/
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Coaching 5 Steps to Selling Anything Technical One of the most difficult things we deal with as tech companies is trying to sell our services or products to prospective clients, would you agree? A major problem we face is conveying why our future clients need our services using terminology they will understand and pay attention to. One of the sales secrets I am going to let you in on, is that you can make sales without the client even knowing the name of your product or service or ever saying a word like: Search Engine Optimization, gigabyte, meta tags or even computer. Closing The Sale So -- you've just gotten off of the phone with a potential client. You've explained what you do and how you can help them -- and they still did not end up hiring you. Where did you go wrong? You are EXPERIENCED, you are professional -- and yet you seem to have a hard time turning those leads into paying clients. Perhaps you are approaching the situation from the wrong perspective. Maybe you are focusing too much on the sale and not enough on the potential for a RELATIONSHIP with this person. Seven Critical Qualifying Questions Training your salespeople to not waste time working unqualified accounts, or building relationships with the wrong people in qualified companies is imperative to the long the term success of our sales team and your company. Quit Talking and Listen! Give Clients and Prospects Your Undivided Attention I have found that the best sales people are the best listeners, not the ones that talk your ear off. Listening is a skill that much more than just hearing the words coming out of their mouth. Here are some tips that you can use to see how well you actually listen. Sales As A Positive Experience No matter what your age or stage in life, some words come with preconceived meaning. "Sales" is one of them. For most people, it means being put in a position to have to buy something you don't want at a price you can't afford. Therefore, how do you conduct a critical element of the small business marketing process without incurring the negative impact of the word "sales"? Sales Success The 5 Steps It's a common question we come across everyday: why is business getting more difficult now? Well, it all starts with your company's sales competencies. The strange thing is that many companies spend lots of money and time training its people how to sell their products but not how to sell. Change Takes Time I am writing this at the Philadelphia Airport on my way back from meeting with one of my clients. Three weeks ago, we offered a training program for their staff in basic selling skills. She reported that they saw an immediate increase in sales after the program. Since these are all telemarketers, she listened in on their calls to see what had changed. To her pleasure they were asking good, open-ended questions. They were taking time to listen to the client's responses and using their comments to match them with the right product. They were even closing right at the correct time. She was thrilled. 7 Ways to Get to the Truth: When the Sale Disappears Based on his most recent e-mail, "Everything looks good -- I'll get back to you so we can move this forward"--everything points to a probable sale. You feel so relaxed, happy, and hopeful. Then a couple of days go by with no phone call or e-mail. You tell yourself, "He's probably busy. I know he'll get in touch tomorrow." But tomorrow comes and goes with no word. Anticipating the Audiences Reaction Obviously, you can not know all of the things that will set off an individual person. But you can know and base your actions on far more specific information about them than you probably now are using. Even if the reaction of the audience cannot be known, try not to do anything that will directly cause him to react negatively based on what you know to be generally true. The Power of Confidence My experience has taught me that people want to buy from sales people who are confident in their abilities. Taking control of the circumstances and situations around you will develop your self-confidence. When you consider the amount of rejection that many sales people encounter, the fact that many salespeople lack self-confidence is not surprising. Top performing people in any industry typically possess a high level of self-confidence. They may not necessarily possess this confidence all their lives. Sales Prospects Avoiding You? This issue's topic on sales prospects comes in response to a question I received from a reader. Question: Five weeks ago, I had a good conversation on the phone with an important prospect in my territory. They have a need for our product and the prospect seems to acknowledge this as well. Every time I have talked to him, he has been very interested and seemingly aware of the problem in his company that our product can help solve. I sell print management and print tracking software and the prospect acknowledged that the cost of printing is an issue for his organization. Last time we talked, he indicated he needed to gather some information regarding his current operating cost (which we most likely would be able to cut) before coming in for a demo. But when I called back at the time we had agreed upon, I kept getting voicemail. I have not been able to get him on the phone and he doesn't respond to the voicemails I left either. What do you recommend I do?" When Sales Prospects Won't Take Your Calls How To Stop Chasing Prospects Forever! Perhaps the biggest challenge faced by salespeople is the problem of chasing prospects. In this article I'll explain exactly why that happens, and how you can avoid it entirely and make prospects chase you instead. Putting Benefits Before Features Having spent so many years in retail, I always enjoy being on the listening end of a sales persons presentation. Mortgage Leads Are Like a Box of Chocolates Mortgage leads are like a box of chocolates, you never know what you are going to get. That is why it is so important to do your research before you invest. How To Master The Art And Science Of Super Salesmanship In 3˝ Minutes Flat! Dear Friend, Start Your Sales Engine! Does your business run on a sales engine or a sales effort? A sales effort is something that has to be done every time you want to make a sale. But, a sales engine is something that, once put into place, can bring you sale after sale without added effort. Here are a couple of examples ? Increase Your Sales With an Incredible Offer What are you selling? Essential Training Skills for Managers Today's manager lives in a world where change has attained Mach speeds. What holds good when you go home may not apply when you return in the morning to work place. Such a tremendous pace of change takes a heavy toll in terms of a dispirited and de energized workforce. Instant Rapport: The Key to Sales Success Did you ever meet someone with whom you just clicked? Someone who was so much like you that you practically knew what he was thinking? How comfortable did you feel with that person? Did you trust him? Chances are that you have very high rapport with that person. How to Reduce Sales Resistance Sales resistance is a fact of life for most sales people. We encounter sales resistance in 5 specific areas. In any sales transaction we must negotiate these 5 barriers. They can be real and permanent, which means no sale. Or they may merely represent perceptions that the prospect currently entertains through lack of knowledge. These perceptions can be changed through the sales process resulting in a sale.
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