Can sales be simplified down to a board game? Maybe it could even just be a game of Monopoly? Steve BookBinder, CEO of Digital Media Training, explains how he see's sales strategy being one of the most important aspects of the sales funnel. Be sure to share the love on social media. Tweet us at @DM_Training!

1. 5 Reasons to Start Selling with
a Monopoly Mindset

2. I love games. I especially love board games that you can play at
parties where the goal is to have fun while trying to win. My
favorite game is Monopoly, which I love because it is all about
strategy. Most players think the name of the game is buy the
most expensive properties like Boardwalk and Park Place in
order to win. I, on the other hand, usually beat these types of
players because they fail to see the real game.
Players like this are usually the ones going around and around
the board just waiting for that magic roll of the dice that will
finally land them on the properties they need. Not exactly the
best strategy, is it? However, most players naively think the goal
of the game is to make the other player go bankrupt. They are
correct, but missing an essential element of that goal. The real
way to win is to be one step ahead of the other players and
make them go bankrupt, first.
Here are 5 considerations that will help you to start selling with
a “Monopoly” mindset and how you can create your very own
winning sales streak:
Introduction

3. Opponents remain blinded by their view of the games
goal, regardless of how many rolls of the dice it takes
them to get there. I beat them with a strategy that is all
about shortening the sales cycle. It’s all about who can
close deals faster. It takes them 20 rolls to collect a lot
of my money, but it only takes me 10 rolls to begin
collecting some of theirs. Some sellers think like those
players. They believe that sales is all about going after
accounts by using the same strategy they’ve always
used — while maintaining their preferred activity pace
and getting the best results they can.
1. Interpretation

4. The game is about exceeding goals by bringing in the right amount of
sales revenue each month. For most of us, that means increasing our
average monthly sales revenue from the previous year to this year.
Like the monopoly player who spends all day hunting down Boardwalk
and Park Place, the average seller spends all of their time going after
the biggest sales or a certain pre-selected type of client.
They usually work on 5-20 calls at time. It takes a long time to work
most of them because most were not ready to buy before the seller got
there. After they play it out with all 20 leads they begin working on the
next 20. I believe that makes life an uphill battle for both the seller and
the buyer. Typically, the majority of those companies are not ready to
buy right away, and instead are tying up all, if not most, of the seller’s
time.
2. Prioritize for the moment

5. The name of the sales game is to close more sales than the previous
year — enough to hit my ever-rising goals. To close more sales per
month than last year, I have to shrink the amount of time it takes to
close each sale. I can’t create more time for myself, therefore I must
create a shorter sales cycle. Personally, I value a fast closing sale over a
bigger but more time-consuming sale, for that reason. In the time it
takes to get one big sale, I may get 1-10 small sales of which some will
renew and some may expand into a bigger sale. Prospecting to find
deals that can close in the shortest amount of time gives the seller the
maximum amount of sales time. How? Because less time is wasted
chasing down people that aren’t ready to buy now.
3. Quantity

6. Look for a person who is qualified to buy now and is in the position to
see my offering as a fit into what they are doing currently and/or what
they are planning for the future. By the way, my definition of
“qualifying” includes all the usual qualifying considerations as well as
these questions: (1) How hard is it to get a decision? (2) Will the budget
work? (3) When would be the soonest they would buy? (4) Why aren't
they customers now? Learn the answers to these questions in order to
gain a better understanding of your client’s time frame.
4. Qualified Buyer

7. Learn how to find and work with the people who have plenty of
influence over decision-making and budget authority. What I mean by
this is that you need someone on the inside to help you move
decisions forward. In order to get this first piece of business with your
prospective client, they will inevitably need to have a bunch of internal
meetings with lots of people weighing their opinions. So, for me to
close this deal, my contact must be an insider that has some influence
in the decision-making process. With this type of situation, I am looking
for ways to shorten the time it takes to get that decision. By working
with the right person and asking the right questions, you will know
sooner if the sale is worth your time.
5. Decision Maker

8. As the game of Monopoly often goes, it’s about slowly and steadily adding
houses and hotels until you can bankrupt anyone who lands on these
long-term investments. Unfortunately, some players are so blinded by
their difficult-to-accomplish goal that requires “limited-odds” dice rolling
that they often turn down a more “qualified” but smaller deal. I choose a
strategy that beats them every time. I don’t rely on a lucky roll; all rolls are
good because I either buy or negotiate with practically every property no
matter how inexpensive. Like Monopoly, selecting a sales strategy that
doesn’t rely on “luck of the draw” but rather, tactical planning and
research will pay off in the end as well as create the “deal flow” needed to
maintain a successful sales pipeline.
Conclusion

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