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Continuous Self Development- July Book of the Month

Jul 19, 2010
Books

Here’s a book by a CEO of a company who has leveraged their unique CULTURE into a fast growing, profitable company that additionally was sold for $1.2 Billion! Not bad for a 10 year old company- maybe we can all learn something from ZAPPOS and it’s CEO Tony Hsieh in “Delivering Happiness”. Here are a few of my takeaways:

  • Would you be comfortable printing everything your employees, customers, and partners have to say about your culture? If not, what would it take for you to get there?
  • Over the years, the number one driver of our growth at Zappos has been repeat customers and word of mouth.
  • The additional shipping costs are expensive for us, but we really view those costs as a marketing expense. We also offer a 365-day return policy… we put our phone number at the top of every single page of our website, because we actually want to talk to our customers. And we staff our call center 24/7.
  • At Zappos, we don’t measure call times (our longest call was almost six hours long!), and we don’t upsell. We just care about whether the rep goes above and beyond for every customer.
  • We’ve actually said no to a lot of very talented people that we know can make an immediate impact on our top or bottom line. But because we felt they weren’t culture fits, we were willing to sacrifice the short-term benefits in order to protect our culture (and therefore our brand) for the long term.
  • At the end of the day, just remember that if you get the culture right, most of the other stuff-including building a great brand-will fall into place on its own.

An easy read with takeaways that will deliver…happiness for all!

Ten Do’s and Dont’s in Good Times and Bad

Monday, July 12th, 2010

As a business leader, here’s a quick look at key areas of focus for the success of your business.

  1. Magnetic Vision- It’s the role of the leader to ensure our associates understand where we are headed and are regularly reminded of their role in making the successful journey. The successful vision is one that gets everyone excited each day to be a part of it, looking forward to coming in and making a difference. “Making it up as we go along” isn’t going to cut it!
  2. Winning Culture- we’ve talked about this in previous newsletters, but as a reminder, what we want to create is an environment in the company where the people who work there don’t get up and feel like they “have to” go to work, but rather that they “want to” go to work. We get this by winning over their hearts. So, the great challenge of a question is “what are you doing to win over the hearts of your associates?”
  3. Key People in Key Spots – a Sales Leaders job is NOT TO GROW SALES, it is to grow salespeople. Do that, and they will grow your sales. So, who is actively and regularly growing the sales force in quantity and quality? I don’t believe it to be effective if the CEO is also the Sales Leader. As well, promoting the best sales producer rarely results in a solid Sales Leader. And, the worst is where we make the best sales producer the Sales Leader and expect them to continue with their book of business. If you seriously want to grow your sales, invest in a top performing Sales Leader.
  4. Cash and KPI’s- CASH is KING. The CEO needs to stay on top of this critical number and should have daily/weekly actual and rolling 60 day forecasts available for review. As well, attention must be paid to the current ratio, particularly in these times of the financial and banking crisis. The lines of credit you “think you have” just might be an illusion when you really need them. A daily review of a quality financial “dashboard” is highly recommended- see Verne Harnish’ “Mastering the Rockefeller Habits” for a good model.
  5. Change Agent- Take it from Jack Welch: “If the change inside your company is slower than the change outside, the end is in sight.” It’s the responsibility of the leader to “sell” change throughout the organization as not just a needed thing but as a good thing.
  6. Winning is in the Preparation- All too often in challenging business environments, we see a cutback in the training and practice areas. The best sales people are “canned”, saying the same things each time they encounter similar situations. We need to ensure all on the team are prepared, practiced and not out there “winging it”.
  7. Systems and Processes- There’s hardly anything that goes on in a sales call that couldn’t be anticipated before your arrival. As such, most everything can be designed and built into a system and process. The largest sales force I led was 2600. Clearly there are not 2600 “best ways” to sell. So, our opportunity is to discover what those “best ways” are and build the needed systems and processes.
  8. Key Relationships- Identify your key relationships by category: for example, bankers, centers of influence, key clients, government officials, etc. Go “deep”. Example: If you are working with 3 banks, you should ID 1-2 more prospect banks and nurture them, along with nurturing the existing 3 with about 4-5 bank executives in each. Set up a schedule of “touches” with personal visits and email/phone calls to ensure the relationship is leveraged.
  9. Continuous Education- there are a myriad of organizations of CEO’s, entrepreneurs and “C” level positions designed for idea sharing, high level business education and mentorship. These organizations can bring insightful solutions and support for your business challenges and opportunities, comprised of business leaders from all matter of industries. As well, we recommend active involvement in your industry trade groups. Never stop learning!
  10. Have Fun! If you as the leader aren’t, it will be reflected throughout your organization. Companies enjoying what they do typically outperform those that don’t. Besides, do you really want to wake up and decide to not have fun?

The “Don’t’s”? Just re-look the list and play out the opposite!
Good Hunting!

Daly News July 2010 Volume 39

Wednesday, July 7th, 2010

NEW ZEALAND MEDIA INTERVIEW

In conjunction with a series of full day Sales & Sales Management Workshops in late July in New Zealand and Australia (see schedule in this newsletter), I was interviewed for media purposes and thought the Q&A to be of value worth sharing. Here is a portion of that discussion:

  • The world economy has taken a bashing over the last couple years. Are there any industries/companies that are “getting it right”? If so, how? Here are a few solid performer examples- Apple, Salesforce.com, Monsanto, Domino’s Pizza. A few of the areas they have keyed on to distinguish themselves from the competition- Speed, design, cost, service, communication both in and out of the company. Begin the process by viewing the challenged economy as “where might be the opportunity?
  • You speak of nine touches before your prospect knows you exist, while most sales people give up at five or less. What is the line between persistence and harassment? As well, how do you tell the difference between a time waster and a genuine prospect? The key with the “touches” is to vary the medium, vary the content and vary the frequency. And, most of all, the touches should BRING THE PROSPECT VALUE. As for time waster vs genuine prospect, up front homework is key. Leverage the internet in your homework, before setting about the call. Then, set a time line for each prospect as to how long before moving on. Then, go about your touches with value.
  • The Sales Manager role- how relevant is it in 2010? In a word, ESSENTIAL. If a business is set on growing its sales, in most cases a quality sales team will be needed. The way to build such a sales team, in quantity and quality, is through proactive Sales Management. If there indeed is a market opportunity, the way to leverage sales growth is through leveraging one’s sales team, through PROACTIVE SALES MANAGEMENT.
  • You say that 50% of success is a “head case”- what do you do if you are in an industry that has collapsed? How do you get your mind right to think creatively in a tough situation? The first big step is to decide if you are truly “in” or not. By this I mean not to be regularly assessing and questioning how long you will stay; whether you should stay, etc. Once one decides they are “in”, then I say if you are “in”, then go “all in”. Laser focus on being proactive with activity, designed to make things happen. Regular monitoring of activities and what is working and what is not. Recalibrate and leverage where one is experiencing success.
  • You have built six businesses from scratch into national-sized firms. If you had to name the five biggest learnings, what would they be?
    • 1. Begin with the end in mind- wrestle down your VISION.
    • Build a model operation and replicate.
    • FOCUS.
    • SYSTEMS & PROCESSES, SYSTEM & PROCESSES.
    • Hire to CULTURE.
  • One of your companies was honored by Ernst & Young as Entrepreneur of the Year. Are there three things that stand out?
    • Fun and unique CULTURE.
    • Proactive telling of our “story”.
    • FOCUSED on doing the simple consistently and well.
  • Can sales success be taught or are you born with the gift? It absolutely can be taught. Here’s how:
    • The candidate has to have the right positive attitude.
    • Systems & processes need to be defined.
    • Follow the systems & processes.

DOUG HALL JUMP START YOUR BUSINESS BRAIN

During the EO International University earlier this year in Orange County California, I had the opportunity to sit in on Simon Mundell of Results.com session. Part of that presentation was some great “wake up’ queries that came out of a study by the celebrated Doug Hall. See how you fare on the following questions; answers will be found later in this newsletter issue.

  • Most effective company growth strategy =
    • Build customer loyalty or
    • Find new customers?
  • Most effective revenue growth strategy =
    • Increase average $ sale or
    • Increase purchase frequency?
  • Presenting data to customers =
    • Use charts and graphs or
    • Use clear and simple words?
  • Most effective credibility strategy =
    • Testimonials from satisfied customers or
    • Product/service demonstrations?
  • Customers prefer sales people who are –
    • Highly dependable or
    • Highly competent?
  • Most effective growth strategy =
    • Expand your offering to serve different market segments or
    • Reduce offering to focus on 1 segment only?
  • Most effective marketing strategy =
    • Offer 1 benefit or
    • Convert all your features into benefits?
  • Branding & written communication =
    • Respect customer’s intelligence or
    • Dumb it down to 10 year old comprehension level?

I believe you will find the answers “illuminating” and then the question is….see ANSWERS.

 

July 13th Jack Daly Webcast
Managing Objections, Asking the Best Questions & Improved Listening Skills – The High-Payoff Best Practices of Top Producers.
Why do 20% of sales people produce 80% of the results? Top producers do certain things better than the rest. In my career of managing large sales teams (2,600 sellers at one of my companies), the top 20 percenters consistently outperformed the rest of the sales team-by far. And they did it by doing simple things very well. Learn their secrets and prosper. I’ll show you how. Click here to learn more and register for this webcast to learn top producers’ best practices.

LIMITED TIME SPECIAL BONUS: Launching by July 30
The JACK DALY WEBCAST MEMBERSHIP
If you’re not consistently training… you’re not gaining. Sign up for the July 13 webcast and you’ll get a limited time special reduced Kickoff Rate for the brand new JD webcast annual membership. Your price for the July 13 webcast will be deducted from the normal webcast membership rate as low as $249 for the year!
So you’ll end up getting the 7/13 webcast for FREE and enrolled to continue training with Jack for 6 powerful new webcast events over the next year at one low price for the entire year!” More details will be coming to you very soon.

What is GPS? Growing Profitable Sales-an online sales navigation tool using Jack Daly’s proven Systems & Processes that build results.
GPS focuses high payoff sales actions on results. GPS puts into action the sales systems, processes and tools you need to keep your sales team on track. Goal setting, tracking key activities, proactive pipeline management, building perception of value, prospect preparation, best questions & objections, sales success tools and more. It’s professional sales systems, processes and tools that grow sales and profits.

Measurement Tools

  • Key Activities – strengthen skills & measuring
  • Goal Tracker – focused accountability system
  • Accountability Tools
  • Coaching Vehicle – skills improvement
  • Relationship Management – communication
  • Pipeline Management Tools
  • Prospect & Customer Tracking
  • Touch System – differentiation
  • Success Tools
  • Professional Development Toolkit
  • Collaborate – capture & use best practices

Send Jennifer@jackdaly.net an email to be placed on our First Alert List.

ANSWERS TO DOUG HALL/SIMON MUNDELL QUESTIONS

  • 1-finding new customers is 2.8x more effective.
  • 1- increasing avg $ sale is 3.9x more effective.
  • 2-clear and simple words 2x more effective.
  • 2- demonstrations 47% more effective.
  • 1- dependability 320% more important.
  • 2- focus strategy = 60% greater chance of success.
  • 1- one blunt, overt benefit = 75% more likely to survive > 5 years & 54% more likely to succeed.
  • 2- 10 yr older level = 70% more effective.

Well, how did you do? If we don’t dig deep and FOCUS on the right things and direction, how hard we work will be immaterial. Be sure that you are seeking others input along the way in your business pursuits. A “second pair of eyes”, sometimes an “uninvolved in the day to day” resource can be the true “guiding light”.

TAKING ACTION
The frustrating part of what I do as a speaker/teacher is relying on others to “take action”. Frustrating especially when you hear about the challenges of a tightened economy, and yet too many folks not taking the actions needed to WIN.

Check these examples of others, and then ask yourself why you aren’t “making things happen”..
Greetings Jack-

Wanted to thank you again for the valuable information on Monday. Results, results, and continued results prove why you’re successful. A few other key ingredients go into your mix as well, but as you’re aware, inspiration is your middle (should be your first) name.

Facebook and the money bag are two minor/easy steps I took. My system/process is the next item on the list.

You’ve received countless ‘thank you’ cards/emails/notes from the lessons you teach (wittier than mine, I imagine), but I’m truly appreciative of the help you provided.

Good luck with all that you do and happy Bungee jumping Jack.

Motivated and ready to succeed,
Jake Oja
Propel Insurance

Jack,
I wanted to share a cool story with you. I went with a buddy to obtain a service from an up and coming local business in Las Vegas. (No, not that kind of service Jack) Anyway, while I was listening to the goals of the artist a light bulb came on. They were not connected with their target audience through means of social media. So long story short, I showcased all of their work on FB, twitter, myspace and craigslist for them in a matter of a couple of hours after leaving there business. I went back to administer a crash course on social media and many of the touches you spoke about and after about an hour the drawer on the till popped open and the owner gave me 100% of what I had paid for their services for teaching them more about sales and business in an hour than they’d ever learned.

I wanted to thank you for opening my eyes to so many things. This helped me not blow my TDY money for the trip. That was an immediate gratification, I just can’t wait to get back in front of Soldiers and share the knowledge you led me to obtain. Good luck and I hope we meet again soon.

Respectfully,

Jeremy Karr

SFC, USA

CONTINUOUS SELF DEVELOPMENT
Speaking of Culture, here’s a book by a CEO of a company who has leveraged their unique CULTURE into a fast growing, profitable company that additionally was sold for $1.2 Billion! Not bad for a 10 year old company- maybe we can all learn something from ZAPPOS and it’s CEO Tony Hsieh in “Delivering Happiness”. Here are a few of my takeaways:

  • Would you be comfortable printing everything your employees, customers, and partners have to say about your culture? If not, what would it take for you to get there?
    -Over the years, the number one driver of our growth at Zappos has been repeat customers and word of mouth.
  • The additional shipping costs are expensive for us, but we really view those costs as a marketing expense. We also offer a 365-day return policy… we put our phone number at the top of every single page of our website, because we actually want to talk to our customers. And we staff our call center 24/7.
  • At Zappos, we don’t measure call times (our longest call was almost six hours long!), and we don’t upsell. We just care about whether the rep goes above and beyond for every customer.
  • We’ve actually said no to a lot of very talented people that we know can make an immediate impact on our top or bottom line. But because we felt they weren’t culture fits, we were willing to sacrifice the short-term benefits in order to protect our culture (and therefore our brand) for the long term.
  • At the end of the day, just remember that if you get the culture right, most of the other stuff-including building a great brand-will fall into place on its own.

An easy read with takeaways that will deliver…happiness for all!
Here’s the schedule of cities I will be conducting programs in over the next 3 months (some for clients, others are open seat workshops). I may have flexibility in my scheduling for lunch, dinner or more should someone have an interest. If you see I’m headed to your part of the world, feel free to email jennifer@jackdaly.net with your interest and Jen will do her best to accommodate any requests.
July-AUSTRALIA & NEW ZEALAND
August- New Orleans, Austin, Denver, Chicago, Green Bay
September-Montreal, Green Bay, Hartford, DC, Las Vegas, St. Louis, Kansas City, Los Angeles, Denver
October- Boston, Philly, New Jersey, Chicago, DC, Toronto, Denver, Vancouver.

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