86. How do small companies get big?
As I write this I am in Columbus Ohio and just took my rental car back. I didn't have to worry about how to find my way around because I had a GPS (Global Positioning System) telling me where to go. All I had to do was put in my destination and, like magic, I was given step by step detailed instructions on where to go.
Here's what I was thinking. "Wouldn't it be great if I had a GPS that would guide me towards my goal? I could program in my goal and get minute to minute feedback telling me if I am on course, or if I need to change direction or change my activities."
You and I actually do have a GPS already installed. It just has to be programmed. And once you enter your destination you will be guided with surgical precision.
The first part of the programming process is to choose a specific destination. It has to be specific. You can't program a GPS to head south; you have to enter an address, or at least a city. It can't be a destination that is unreachable or unclear.
In programming our personal GPS the input must be realistic, measurable, obtainable and most important, specific. You have either reached your destination, or you have not. There should be no gray area.
For example, you might program in more customers. However, programming in 250 more customers per week is a much more specific destination for your GPS to focus on. Same thing with programming in open a second location, or increase the size of every order. They are not specific enough.
Here's the main difference between small companies and large companies:
A large company has a CEO whose responsibility is to create a specific detailed plan and present it to the board of directors and stockholders. They know exactly where they are going and how they are going to get there. They have daily, weekly, monthly and quarterly reports to tell them if they are heading towards their destination. A small private company usually reports only to itself.
For a small company to really grow the first step is to prepare a presentation. One that would be detailed enough to sell potential stockholders on why they should invest their money with your company. Where you will be in six months, one year and five years from now.
Without a clear roadmap it is like a recent trip I took to Quebec. Everything was in French. I couldn't read a single road sign. If I didn't have my GPS I would have been completely lost. However, all I had to do was enter the address of the hotel I was heading to and presto, step-by-step instructions were given to me.
What is the address you want to end up at? Write it down. Give your mind a clear picture of what it looks like and presto! Step-by-step instructions will come to you almost like magic.
Comments:
I have created a profile sheet on every customer that I have ever seen. Every meeting and every phone call goes on that profile sheet for each customer, date I saw them and what we talked about. I write down everything, New that the customer is interesting in seeing anything the customer has concerns about. I write down everything, there birthday, holidays, day off. This is the information I keep on the customer. So on my next visit I am prepared for the customer.
Jim Harris
It never ceases to amaze me how effective it is to know something personal about the prospective customer and work it into the conversation. Recently, I called on the General Manager of a local defense contractor. He was very polite and listened to me for a few minutes but I could tell I was not getting very far with him. I mentioned to him that I had seen his picture on the Chamber of Commerce website as one of the Directors. I listened to him for the next fifteen minutes about his activities. It was very interesting and his tone was much more accommodating to me afterwards. We are all looking for ways to stand out in our customer’s minds – to get them to lower that shield and dispense with the knee-jerk “thanks but no thanks” response. Doing just a little research can really payoff.
Crocker Smith
I was watching a special on espn about the retirement of Brett Favre. He has been in the NFL for 17 years and was explaining the preparation he goes through mentally and physically for each game. He cannot just go “wing it” in each game and expect to win. Of course sales does not have the physical aspect of football but does parallel the mental side. You have to have the mind set and information you need to win the account. You can never quit planning.
Gregg Nixon
Planning is important for any salesperson, whether they are a neophyte or seasoned sales professional. This is why email, computers, PDA’s, laptops, CRM software, etc are so popular. They help us keep track of what we are doing, who we have business relationships with, and where we are going. I would wager that the longer you are in sales the MORE important planning becomes because theoretically the number of relationships and accounts you have should be increasing, meaning you would have more to keep track of the further you are into your career.
Marquesa Ortega
I may not actually keep a notebook of information, but I do have a manila file for each of my customers or prospective clients. I write information on these folders, and even if it looks sloppy, it does help me to stay organized. When I call a client, I have that file out, and all the info I need is readily accessible. You can really tell when somebody is paying attention to the small things; for example, when I go to visit my diabetes doc, she always asks me about stuff going on OTHER than my diabetes, and even though I only see her every 6 months, I really feel like she cares about me. I like her a lot. If I can get my clients to feel that way about me, I will do OK.
Laura J. Czajka
This is a great reminder lesson. I haven't been in sales very long or I am not "seasoned", but I already have seen myself cutting corners. Most of the time it will come back and nip you in the butt.
Dominick Yarnal
Planning is still the number one part of sales. You must always know what the prospects needs are in order to give a good presentation. Making notes on every conversation with each customer helps plan for the next meeting. Even the smallest details that a customer says can help you plan for the next sales call. You can pick up on concerns, objectives and be prepared to answer any question the client may have. This will help you understand what each customer wants or may need in the future.
Laura Arnett
Planning will always remain crucial. As sales professionals, we at times will feel we have much more depth of knowledge in terms of our products/services offered than the client. Most times this is true - and we often have the reps from the companies whose products we sell make presentations to us to brief us on the 'new lines'. This does not mean we do not need to plan our sales calls - any one of our clients could be very well informed and we could be left without answers, without the ability to give the service we may have represented.
I have learned alot from my clients about their specific uses/experiences with products. It is all a learning experience, but we should still take the time to prepare and plan - otherwise, why bother making the call, our time and the clients' time are both too important.
Wendy Parrott
"A large company has a CEO whose responsibility is to create a specific detailed plan and present it to the board of directors and stockholders. They know exactly where they are going and how they are going to get there. They have daily, weekly, monthly and quarterly reports to tell them if they are heading towards their destination. A small private company usually reports only to itself."