WEEK 3

CULTIVATE AN ENTREPRENEURIAL MINDSET

Too many salespeople think of themselves as employees, treat their careers as jobs, and focus too much on market conditions. They bellyache about the dealer or broker they work for, their sales manager who provides no support, the unrealistic sales quotas they have to meet, and the fact that the economy just isn’t what it used to be. They end up wasting a lot of time they could be using to move more product. As long as a salesperson has a mindset that what they are doing for a living is a job, they will be in a dead-end job.

To be successful in sales, stop thinking like an order-taker and start thinking like a small-business owner, an entrepreneur. Think of yourself as You, Inc., a business entity unto yourself, a revenue generator. Your success depends on you and you alone.

PROCURE TOOLS AND RESOURCES

Take a few minutes to write down a comprehensive list of what you think you need to succeed in sales. Do you need a new computer? A specialized software program? A way to market yourself more efficiently in print or on the Internet? An assistant to fill out paperwork? Additional training? Draw up a comprehensive list of tools and resources you need, prioritize the items on your list, estimate the cost of each item, and then start gathering everything you need.

Tip: If you have a sales manager, you may be able to convince your manager to cover the cost of some of the items you need or at least offset your cost in some way.

 

By performing this exercise, you are essentially creating a business plan for You, Inc. You probably already have a clear idea of what success would look like for you. Now you are developing a plan for moving from point A (where you are now) to point B (where you will be when you have achieved success). I talk more about goals in Week 5 and about developing a comprehensive plan in Week 6.

Your business plan should contain a timetable, estimated costs, and your estimated increase in sales revenue. It may even include how much time you are initially willing to invest per week and how much time you will spend each week maintaining that level of success once you achieve it. Consider including a breakeven point in your timetable, showing exactly when you anticipate the investment to pay for itself.

If you are an independent sales agent or if your manager refuses to invest in your success, then acquire the resources you need yourself. Borrow the money if you have to. Invest in your own success.

Tip: Demonstrate your commitment to the company you work for before expecting the company to demonstrate a commitment to your success. Once you have proven yourself, you hold a stronger position at the negotiating table.

 

Remember: The great thing about sales success is that you invest time and energy up front, but once you achieve success, maintaining it requires much less time and effort. You can then invest your extra free time and energy in other pursuits, both professional and personal. You can achieve a balanced life, which is ultimately much more rewarding and fulfilling than career success alone.

MARKET YOURSELF

Now that you are your own business, launch it like any large corporation might launch a new brand. I often observe salespeople primarily marketing the companies they work for and only secondarily marketing themselves. They pitch themselves as RE/MAX agents or Ford dealers rather than emphasizing their own brand. When you crank up the marketing machinery, keep in mind that You, Inc. is the company you are promoting.

You may be marketing your company and your products, but those entities are only peripheral interests. You include them because they are a part of what you sell, but by marketing yourself, you ensure long-term success. Even if you happen to change companies or start selling other products, you retain all the benefits of the time, money, and energy you invested in your marketing efforts.

Tip: Before clients will buy from you, they have to buy into you. They have to know you and trust you, know what you sell, and believe that you are going to treat them fairly and with respect. The goal of your marketing campaign should always be to build a high positive profile that constantly reinforces your image and the fact that you are knowledgeable and trustworthy.

 

Your personal marketing campaign should exploit all media, including print advertising (business cards, flyers, brochures, and so on), the Internet (web sites, blogs, e-mail, e-newsletters, and so on), and traditional media (television, radio, newspapers, and magazines). In Week 17, I show you how to engage in shameless self-promotion. However, remember that this is not an ego trip. Your success depends entirely on your ability to make your customers and everyone around you successful, too.

HIRE EMPLOYEES (ASSISTANTS)

Until you have one or more employees, you are simply a self-employed freelancer, and you are probably wasting time on no- or low-profit chores, such as pushing paper and stuffing envelopes. You should be spending time on dollar-productive activities—marketing yourself, meeting with clients, selling product, and exploring other revenue-generating opportunities and partnerships. Everything else you should delegate to your assistants.

I always tell the people whom I mentor or coach, “If you don’t have an assistant, you are one.” If you don’t have an assistant, hire at least one. If you are concerned about having to handle payroll, consider hiring a virtual assistant (VA) who works on contract. That way, you can pay the person, issue him or her a form 1099 at the end of the year, and not have to worry about dealing with complicated payroll deductions. In Week 8, I unlock the secret to my success—the people who help me achieve what I could never achieve on my own.

BUILD A SALES TEAM

When more business is coming in than you can personally handle yourself, consider building your own sales team rather than turning away prospective clients. You can handle the arrangement any way you wish. You may include someone, probably yourself, who plays the role of rain maker—attracting new business; another person who takes care of the actual selling of product; and a third person in charge of closing the deal and processing the paperwork. Each person on the team can have his or her own specialty.

As business picks up, you can add members to the team to scale up for the increased workload and acquire talent the team is lacking. Always be in the process of recruiting new talent, and take your time adding members to the team, so you can add the cream of the crop.

Admittedly, any discussion of building a sales team is premature for Week 3, but I want you to break out of the habit of thinking small and break into the habit of thinking and living large. You need to realize early on that your potential is unlimited. In Week 47, we will revisit the team concept, so you can begin planning your sales team as next year’s project.

Ralph’s Rule: Winners make sales. Losers make excuses. You are the key to your own success.