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All tag results for ‘Sales Process’

Is it Time to Specialize?

November 2nd, 2007

I was doing some training yesterday for a rapidly growing company in the real estate acquisition business. Their sales process, when done right, results in multiple multi-million dollar transactions on a monthly basis. In order for that to happen, however, a number of other things must be executed well.

I explained that in the rainforest there are a number of factors that combine to make it so abundant and fruitful. Three factors that stand out are specialization, cooperation and communication. Specialization as has been pointed out by Adam Smith in his book, “An Inquiry into the Nature and Causes of the Wealth of Nations” leads to highly increased productivity. Henry Ford understood this principle and in a time when there were hundreds of car manufacturers in the U.S. employing craftsmen to build cars from beginning to end, he was the first to introduce the assembly line where every man specialized in one task or another and the results revolutionized the world.

So the first question you might want to ask yourself is whether or not the process of your business, or even your very own sales process, can be broken down into steps and assigned to specialists. A significant determining factor has to do with the market potential. If one man by himself can build an automobile in a month, but a hundred men on an assembly line can build 100 per day, it makes sense to hire 100 men - if there is sufficient demand for the end product.

What we found with the folks I was working with yesterday is that specialization increases productivity exponentially and it can with you too. However, there is another catch that can derail the best laid plans… It has to do with three things: (1) Are the specialists suitable for the task they are specializing in, (2) Is there cooperation between the specialists and (3) Besides the spirit of cooperation, there needs to be a flow of information/communication to facilitate the cooperation or it will never occur and you will end up with a very high payroll with limited results.

Until next time… Be fruitful, then multiply!

Get Creative or Die

July 10th, 2007

Want to emulate the ways of God? Consider Psalm 147:2-6. The sixth of seven characteristics of God’s ways described here is: “He calls them all by their names.” We are talking about the stars here and the last count we had was that there were 80 sextillion stars that we know of - so far. That’s ten times the number of grains of sand on all the beaches and deserts on the planet, just to give you some perspective. It’s one thing to know, for example, that you have a herd of cattle numbering 5,000, but to be able to name them, recognize and remember them by name is beyond the scope of reason for us. Yet God not only knows how many stars there are, but has actually given them all names.

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What Will You Measure?

June 27th, 2007

God counts the stars because it matters. What kind of things can you count in your line of work? I suggest you consider counting/tracking results in your sales process, your marketing process and any other process you have identified in your business because it matters. It can greatly impact your outcome.

If you’re in sales, you might want to start by counting your market size (potential) and then figure out how you can identify the prospects and get them flowing into your sales process. You will need to know not only market potential, but from there, how many you will be able to get enough information on to actually make contact with.

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