Typical Pricing Procedure for PRODUCTS & SERVICES Factor in cost of Add duty, freight, landed cost, + value-added + Excess Trim / Waste Mark-up + CommissionsSize up the Customer + Next month’s Exchange Rate = Initial Quote it oss Prof W eigh Gr Reduce price by 5% if Reference past successes you encounter customer resistance Execute Purchase Order In tackling similar sized customer
Value Added Time (AKA Sales Time)How much time do you spend actually sellingVs…..?1. Paperwork2. Downtime3. Meetings4. Proposals5. Idle chit-chat…visiting…websites…personal business6. Other non-value added activities
Personal Organization & TimeManagementWhat is time worth?Wages + Fringe Benefits / # Hours Worked($30,000 X 1.45%)/2080 hours=Hourly Value$43,500 / 2080 = $20.91/hour
Cost of Value Added (Sales) Time80% Other Stuff = 2080 X 80% = 1664 hours20% Selling = 2080 X 20% = 416 hours$43,500 / 416 = $105/hour
Sales TimeOptions for increasing Sales time1. Work longer hours2. Get better results from time you workFor Example: Increase sales time to 30%2080 X 30% = 624 hours$43500 / 624 hours = $70 hour (Vs $105/hour)
Improving Time Management Know Yourself e/ – Tendencies ti m la n ur r p – Strengths yo ou l a n rk y P o – Weaknesses w – Goals IdentifyCommon Time Wasters Have a Daily Use–of-Time Strategy Establish Regular Planning Times Be Ruthless With Your Self-discipline
ProcrastinationProcrastination is the number one cause of poortime use! It comes from: – Fear of unknown – Putting things off Decisions Actions Problem Solving – Waiting for perceived more-favorable time in future
Overcoming Procrastination I Do you work best under pressure? Inwhat areas of your job do you typically procrastinate? WHY? Doyou avoid difficult people or decisions? WHY
Overcoming Procrastination II Do you often postpone actions requiring a lot of – Time energy – Creativity – Effort – Practice Are your goals clearly established? Do you have time frames for them?
Procrastination Log Start a procrastination Log Record everything you put off – Decisions – Actions – Difficult Tasks – Important phone calls – Customer Problems – Other ________________
DO-IT-NOW PHILOSOPHYTWO OPTIONS:I CAN DO NOTHING OR I CAN DO SOMETHING….Pair up and develop a list of actions, decisions,objectives, problems you are putting off today:1.____________________________________________2.____________________________________________3.____________________________________________4.____________________________________________5.____________________________________________
Time Management Are you late with assignments or appointments? Do you find yourself often rushing? Are you a workaholic? Do you look forward to Fridays or Mondays? Are you an early or late riser? Are you a morning or Evening Person? Do you consider your life balanced and in harmony or out-of-balance? Where are you out of balance and why?
Prime TimeQuestion……What is Prime Time?Answer…..The time of Day when you are at your bestSo……..Are you a morning or afternoon person?Does energy fade during a certain time of day?
Common Time Attitudes1. There is always tomorrow2. There is never enough time to do a good job3. I have too much on my plate4. There are too many demands made on my time5. There is too much paperwork6. I don’t have enough time to waste time on good/bad prospects7. My territory is too large8. I have too many customers/prospects9. I don’t have anyone to delegate to.10. I have to do it myself if it is going to be done right
Concentration (AKA FOCUS)Concentration is the ability to give 100% focus toan action, a project, assignment, decision, oractivity.Can you walk and chew gum at same time?Sure, so multi-tasking is possible, but be awarethat a critical trait of a good sales person is theability to concentrate and focus.
Focus Factors1. If you make a lot of mistakes this could be a sign you lack focus2. Inadequate planning may cause you to suffer in execution later.3. What is taking your eye off the ball in this activity?4. Does your mind wonder while in conversation with others?5. Do you have a cluttered environment?6. Do you rush, or give a person of assignment the time it deserves?7. Is it easier to do it again rather than do it right the first time?8. Do you ever forget ideas or misplace where you put things?9. If you are late or unprepared this could be evidence of poor concentration.10. Periodically ask yourself, does this activity have my full attention?
Expectations To improve business “out there”, control what you can control “in here”…Your own mind” If Business slows, how do you do the following?1. Think differently 6. Work harder2. Act more creatively 7. Get up earlier3. Sell more aggressively 8. Go to bed later4. Work smarter 9. React sooner5. Think faster
PrioritizeEstablishing priorities is a difficult task formany people. They tend to give equalstatus to everything or are unrealistic abouttheir ability to get things done within acertain time frame.
Urgent and ImportantTime Management Matrix URGENT NOT URGENTIMPORTANT 1. DO IT NOW 2. PLAN TO DO ITNOT 3. REJECT & 4. RESIST ANDIMPORTANT EXPLAIN CEASEPeople who are not good at time management,nor in managing their environment, tend to spendmost of their time in boxes 1 and 3.
1 - DO THESE TASKS NOW! • Emergencies, complaints and crisis issues • Demands from superiors or customers • Planned tasks or project work now due • Meetings and appointments • Reports and other submissions • Staff issues or needs • Problem resolution, fire-fighting, fixesSubject to confirming the importance and the urgency ofthese tasks, do these tasks now. Prioritize according totheir relative urgency.
2 - PLAN TO DO THESE TASKS • Planning, preparation, scheduling • Research, investigation, designing, testing • Networking relationship building • Thinking, creating, modeling, designing • Systems and process development • Anticipation and prevention • Developing change, direction, strategyCritical to success: planning, strategic thinking, deciding directionand aims, etc.Plan time-slots and personal space for these tasks.
3 - REJECT AND EXPLAIN • Trivial requests from others • Apparent emergencies • Ad-hoc interruptions and distractions • Misunderstandings appearing as complaints • Pointless routines or activities • Accumulated unresolved trivia • Bosss whims or tantrumsScrutinize and probe demands. Help originators to re-assess.Wherever possible reject and avoid these tasks sensitively and
4 - RESIST AND CEASE • “Comfort” activities, computer games, net surfing, excessive cigarette breaks • Chat, gossip, social communications • Daydreaming, doodling, over-long breaks • Reading nonsense or irrelevant material • Unnecessary adjusting equipment etc. • Embellishment and over-productionHabitual “comforters” not true tasks.Non-productive, de-motivational.Minimize or cease altogether. Plan to avoid them.
Consider the following:1. Do you always work from to-do lists?2. Do you have system of prioritizing prospects, customers, projects, tasks, activities?3. Do you tend to rate all of your tasks or to-dos equally important?4. If you prioritize do you always complete the most important one first or jump around the list?5. Do you tend to allow outside influences determine your priorities?6. Can you complete one task prior to starting another?7. Are you realistic about your ability to complete a specific task in a specific time period?8. Do you use your down-time to catch up or do you fritter it away?
TIME TIPFor the next seven days, keep track ofyour routine activities and how muchtime they take, i.e., reading thenewspaper, misunderstanding,correcting errors, overproducing,Internet activity, playing telephone tag,reading non-value added e-mail, etc…
BALANCING MULTIPLE ISSUES Ex pe c ta LEAD TO: Decisions /Choices Re tion quirems n e Eliminate something ofthof position ts 1. o w supe from your plate Ro l gr rvis uti a d sirrs s eo e 2. Better manage issues & onne aeeds & roles rs al nctiv Peson itue tomers 3. Get better organized Pe ions of c i ss r Live with continued t 4.Expecta stress of poor organization
INTENT1. Do you let yourself off-the-hook when you fail to meet your goals?2. Do you have an action plan or mission that guides you?3. Have you let others negatively impact your ability to accomplish what you desire?
MOVEMENT1. DO YOU TRACK YOUR PROGRESS DAILY?2. DO YOU REWARD YOUR SUCCESSES?3. DO YOU BREAK DOWN YOUR GOALS INTO SMALLER STEPS?4. DO YOU MAKE PROGRESS EVERY DAY?5. DO YOU GIVE UP EARLY OR EASILY?
OVERCOMING FEAR OF REJECTION1. The fear of rejection is one of the major causes of failure in sales.2. Not everyone you try to sell to will want to buy from you.3. If you don’t ask for anything, something…it is unlikely you will ever get it.4. The fear of rejection is an attitude issue and can only be overcome by strengthening other attitudes, such as confidence, self-belief, patience, trust and your self-image.5. The fear of rejection is a symptom of a need for acceptance, approval, or validation.6. The fear of rejection sends a loud non-verbal message that you lack confidence or belief in your product or service or your ability to help them to solve their problems.
OVERCOMING FEAR1. Pick-up the phone and make the next call2. Ask for the customer’s business or the order3. Ask probing questions4. Ask for referrals5. Ask for a bigger order6. Ask for a letter of testimony7. Follow-up on a customer who has a problem8. Ask for a cash deposit9. Ask for a long term contract10. Ask for more responsibility in your position
INDECISION1. Do you have a system for learning from mistakes?2. What are your resources or sources of information to make a wise decision?3. Do you have a systematic method of making decisions?
MANAGING YOUR TIME I1. ASK MORE EFFECTIVE QUESTIONS EARLIER IN THE SALES PROCESS2. PAY ATTENTION TO THEIR ANSWERS TO DETERMINE WHETHER THIS IS A GOOD TIME TO TRY AND SELL THIS PROSPECT3. DEVELOP A CUSTOMER PROFILE TO USE AS A TEMPLATE FOR YOUR PROSPECTING4. Audit your sales calls activity by dividing the number of calls you make in a week by the number of hours worked in that week. This will give you a sales call per hour rate
MANAGING YOUR TIME II5. Get up earlier /Go to bed later; then use this extra time for planning, thinking or evaluating your routines6. Develop a daily checklist of what you need to do to be more effective7. Keep accurate sales records. The more information you keep the better able you will be to spot potential problem areas.
MANAGING YOUR TIME III8. Make a daily / weekly appointment with yourself to do reports or paperwork9. Categorize your administrative tasks into: A). I must do’s now / today B). I should do’s now / today if I have time C). I will do when I finish my A’s & B’s10. Meet with your supervisor to see if you can reduce or eliminate a particular non-value- added activity
MANAGING YOUR TIME III11. Develop habit of asking yourself: Do I need to do this now? Can someone else do this?12. Get off spammers e-mail lists Check e-mail at certain times of day only Don’t read personal e-mail during selling time Use the telephone, it’s faster than typing an e-mail What can you add to this list? _____________
TIME TIPS WHATTIME SAVERS HAVE BEEN SUCCESSFUL FOR YOU? – FILES – EXAMPLES