What am I missing?

What am I missing?
I am compiling a list of what I believe are the biggest sales challenges for entrepreneurs and sales people so I can better position how 'Trigger Events' can positively impact sales effectiveness?

I would love to get your input on what I am missing and your perspective on which three you think are the top sales challenges entrepreneurs and sales people face.

So for the challenges I have come up with are how to:
• Earn bigger margins
• Shorten sales cycles
• Increase close ratios
• Increase close ratios
• Find more opportunities
• Capture early customers
• Get in front of more prospects
• Get to motivated prospects first
• Stop the competition from being called

What am I missing and what do you think are the top three?

Any assistance is GREATLY appreciated
I think the biggest challenge is how to come across credibly and differentiated. I'm a champion cold caller who often gets in front of executives and when asked why I was told that it wasn't necessarily what I said but instead how I said it. I've been told that my biggest differentiator is that I'm direct and concise. I would also say that much success depends upon being consistent even when you are succeeding. With everyone being marketed to more and more these days-its critical for sales people to be differentiated and credible and not sound like a junior guy his first year on the phone.

I think that the missing one in the list is how to:
be liked

people will buy from you and work with you because they like you. If that basic criteria is missing then it is a really hard sell.


The way you've stated your challenges focuses more on "things" (sales) than "people" (relationships) in a larger scope. I would add (1) earning repeat customers & (2) maintaining positive customer relationships although you could argue these are embedded in sales cycles to some degree. Of course, my perspective is from my background as an attorney who has dealt with sales-based organizations and my interest in conflict management. As an attorney, from a business perspective, I would much rather have long-term relationships with clients than continually be looking for new business! If you would like to continue the exchange in more detail, please feel free to email.

I've been consulting with start-up broadband and media companies the last few years in legal, business affairs and business development.

Some of the real challenges I've encountered are:

Keeping the sell focused on what the company is offering and really can deliver on now...not he hope of what can be accomplished down the road--

Really listening to the responses and questions you're getting--these reveal what is of interest tothe desired customer/buyer and what he/she is looking to hear--

Being open and flexible in who to approach--sit down, think of what your service or product is and what key points of difference exist with competitors--there may be potential customers who need what you're selling in markets that aren't immediaely apparent--the way consumers find and act on info today is so varied that mulyiple means of outreach are key

Know that closing may not happen today but can happen--tomorrow--getting a good read and feel for he customer is a key--there may be many reasons why a "yes" doesn't come today (pressures, issues you can't know) and be ready to end a conversation on an opening for more--and then send useful follow-up info--become a supportiuve contact and sales can follow.

I think the two biggest challenges are building trust and getting referrals. I've found that the easiest way to build trust is to provide an immediate incentive. This shows that you want the customer to profit, too. Once you've earned the customer's business through an incentive, it becomes easier to get referrals from that person.

Another one to add to your list is getting a clear value statement defined

Your list is looking good (although Increase close ratios is repeated twice). I would also add:
-- Understanding customer requirements (involves asking the right questions and using good listening skills)
-- Building better and long-term relationships
-- Creating and using a Sales Process
-- Selling at higher levels within the organization
-- Finding out who the decision maker is, or decision makers are
-- Patience (often times, a sales cycle will take a long time and you can't rush it)
-- Learning how to better qualify leads and opportunities
-- Walking away from unqualified opportunities
-- Walking away from unprofitable opportunities
There are more, but that's all I can think of for now. I would say the first three on my list are the most important.

Sales Challenges of an Entrepreneur:

They view the interaction as a sale, instead of a relationship

It’s all about them, not about the customer

They aren’t asking nearly as many questions as need to be asked

They are talking about the process of "how to" not the result and outcome benefits

They don’t have the skill set to Keep-in-Touch and Follow-up

I had another one that I believe is critical and it slipped right out of my mind. I will come back and add it, if I can remember. Note to self, write things down.
Let me take a different tack. A CEO buddy of mine once said when looking at ideas or offeres he asked three questions:

1. What is it (what do you do) and why would someone want it?
2. What makes you better than anyone else (why should I be talking to you)?
3. How do we make money with it (you)?

Hitting hot buttons for executives or calling with loaded questions like - do you want to make more profit or do you want to retain more customers always put my guard up.

The sales calls that I listened to started out ... I don't know whether you have need for our services but let me describe what we do and why we think we are better than anyone else then maybe I could get your ideas on how we might be useful to you or get your thoughts on who else might be able to benefit from our product or services.

In that way you are engaging the prospect, providing them information and respecting their judgement. I have found that the respect is a better hook than the come on.

I think two of the biggest challenges even the greatest sales professionals face and v=never think about are:
Following up and through
Listening!
As sales people, we love to hear ourselves talk but too often we are already thinking about what we are going to say next and not just listening but really hearing what are clients are saying.

As for following up, always return phone calls and after you make the sale, ensure that the client is happy and will look to you again in the future, as well as refer you to their contacts.