Three Word Podcast

Episode 165, Complete more tasks in a day by implementing this strategy.

Simplify Your Sales and Business meetings. Lisa Thal is an Author, Speaker, and Business Coach. She has over 35 years of marketing, sales, and leadership experience. She wrote the book "Three Word Meetings."  Lisa coaches leaders on simplifying sales and business meetings with fun and interesting 3-word  topics to motivate and inspire your sales team.

 

Episode 165, Complete more tasks in a day by implementing this strategy.

 

I was having lunch with a client discussing business and life. We both are in management roles, coaching sales teams, generating revenue, seeing customers, leading projects for the company, and involved in multiple meetings throughout the day, zoom or in person. Some days She shared that it's amazing I get anything done.

 

Can you relate to this situation? Add in family responsibilities to your work, and you may feel like you are getting nothing accomplished. 

 

She asked me how I manage my Time and get so much done. You have your job, Three Word Podcast, a weekly blog, running your dogs daily, weekend golf, and Time with your family and friends. 

 

How do you do it?

 

I answered that I use a system I learned where you Time block your day.   

 

So, I thought I would share with you the system to complete more in a day that helps you focus on your work with limited distractions and can help you be more efficient in your tasks. I want to make sure you understand that this is not multitasking. It is task switching with focus and purpose.

 

You will feel more in control of your day, more productive, and get more work done. We all want to feel like we are accomplishing something each day.

 

So to begin, let me share what I mean by Time blocking. 

 

In football, offensive linemen are looking to protect the quarterback. They form a pocket around the quarterback and block defenders from getting through. 

 

What Is Time Blocking?

Time blocking involves protecting and planning every moment of your day and dedicating specific time "blocks" for certain tasks and responsibilities.

 

When you fill your calendar with the tasks and things you want to do, it's harder for others to steal your Time.

 

Yes, we need to focus Time on thinking and strategizing solutions to help our customers and blocking Time with other co-workers to improve processes in your company. Time blocking is effective because you focus on one specific task at a time.   

 

For example, my mental and physical wellness is at the top of the list. I run my dogs and listen to audiobooks that teach and inspire me before I get to work each day. I time block throughout the day to check emails, return phone calls, coach the sales team, and meet with customers, Time to think. For example, I strategically block Time on my calendar to complete the most critical task that is a must to finish.

 

But how do you use this technique for the best results? 

 

Prioritize Your Tasks

You must prioritize your tasks if you want the Time blocking technique to work. The main idea behind using this process is to enable efficient time management. It means you don't lose valuable Time by thinking about which one to do first. 

 

High priority work at the right Time. That's where prioritizing comes in. By identifying the essential tasks in your schedule, you know which task needs more attention from you. A good way of handling these tasks is to put them in the prime Time of your day. Your prime Time is the Time of the day when you feel the most productive. I am a morning person, so I focus on those tasks first. 

 

When you feel more productive, you also become more efficient. So focusing on your priority tasks at this Time helps you get things done more efficiently.

 

Add blocks for reactive tasks each day

We tend to overestimate what we can do in a day. You still have emails to answer, calls to take, and meetings to attend. However, the power of time blocking comes in choosing when you do these tasks instead of letting them take over your day.

 

Get more from your day

With the development of technology, you can use apps and tools online to create your schedule.

You can use a few simple and free tools to make it that much easier.

 

Any calendar app will do. However, if you want to use Google Calendar, I found this list of power features and best practices to make the most of it.

 

Either you control your calendar, or it controls you

Other people like to steal our time. Time blocking is only one of the many time management strategies out there. Yet, it's one of the most popular for a reason.

 

We all live by our calendars. And the more you can be in control of what's on there, the more in control you'll be of your Time, focus, and productivity.

 

Keep in mind that Single-tasking - Focusing on one task at a time—can make you up to 80% more productive than splitting your attention across multiple tasks. Plus, you will stay connected to others when you know you have time set aside later for checking email, replying to internal messages, and checking in on your social networks.

 

We all have the same amount of Time each day. How you manage and block time will be the difference maker. 

 

If you think someone could benefit from this episode, share it, rate it, or subscribe for Free on Itunes or Spotify, so you don't miss out on the next three-word podcast.

 

Learn more about Simplifying Your sales meetings using 3-word topics at http://www.threewordmeetings.com.

Episode 163, The other ”C” word no one wants to talk about!

Simplify Your Sales and Business meetings. Lisa Thal is an Author, Speaker, and Business Coach. She has over 35 years of marketing, sales, and leadership experience. She wrote the book "Three Word Meetings."  Lisa coaches leaders on simplifying sales and business meetings with fun and interesting 3-word  topics to motivate and inspire your sales team.

 

Episode 163, The other "C" word no one wants to talk about!

 

What is the other "C" Word? Its Change! Change in careers, in our relationships, our health, finances, and our business.

 

If you think about it, our lives are constantly changing. But most of us don't like Change. Why? Because it makes us uncomfortable. 

 

So when does Change occur? Typically, when facing challenges or problems. Problems can be an opportunity for personal and professional growth. 

 

Problems can challenge us, encourage us to be resourceful and innovative, and refocus us on what matters most.

 

I believe Change refines us, not define us!

 

We all face setbacks throughout life; I know I have on many occasions. And how you face these challenges are the differences. We think the problem is permanent because of years of programming in our brains. I believe we do this to protect ourselves from disappointment. But everything eventually ends, and new opportunities arise.

 

 It's called life!

 

Whether you perceive it or not, everything is constantly changing – the environment, the weather, the economy, technology, society, your friends and family, your body, everything. And the better you are at embracing Change in what is happening in your world, the easier it will be for you to live your best life.

 

I want you to stop and think about what problems you are facing today?

Please write it down. 

In business, are you lacking sales?

Do you need more new clients to expand your business? 

Do you need to recruit more talented employees to boost your company's growth?

Do you need to remove employees not producing?

Do you need to focus on your health? 

Get your finances in order?

 

You have three choices when facing any problem.

 

1. Accept it.
2. Change it.
3. Leave it.

 

Accept it.

Your response to any event, not the event itself, determines your experience's outcome.

 

You can't change the events that happen out of your control. But you can learn from those experiences.

 

Think about Global warming, floods, droughts, fires, earthquakes, financial crises, and cyber-attacks are all events that represent Change.

 

You cannot do much to change those events.

 

You CAN change your response to them and ensure that the outcomes you experience in your life are as positive as possible.

 

In my experience, a turning point in our lives leads us to change -a better job, a more fulfilling relationship, new friends, more profound wisdom, more freedom, the discovery of our life purpose, the development of new skills, and spiritual growth. 

 

See, Change is a gift to us! 

 

Please take a moment later today and think back to some change you feared or resisted and all the good that eventually came from it.

 

Once you begin to see that, you can anticipate the good that will come from the changes you are facing now.

 

A good question to ask yourself is, "What's the opportunity that this is?"

If you look, you will find it.

 

And Change will become something to appreciate and embrace rather than to fear and resist.

 

Remember, YOU always have control over how you choose to respond to things.

 

And when you respond with an attitude of curiosity, optimism, and confidence, you'll find it so much easier to survive and thrive during the Change.

 

 

Change it.

The word change sounds terrifying because Change often involves risk and loss – possibly of something big, like your job, money, friends, family, or the loss of whatever is comfortable and familiar.

 

Some people see Change as something to fear or dread instead of a new adventure that can potentially improve your life.

 

That's what Change is: it's an opportunity for you to experience something new and to grow and evolve as a person.

 

Change asks you to:

• Have an open mind to see things from a new perspective and learn something new.
• Develop qualities like flexibility, optimism, courage, and persistence.

 

All of which ultimately results in you becoming a better, more capable person.

And that's a good thing!

Life is all about making progress, and that includes making changes.

 

When you resist Change, you take away the experiences that can transform your life professionally and personally.

 

When you welcome and embrace Change, you open and allow yourself to grow and expand.

 

Leave it.

Your third option is to leave it! By definition, Leave is to depart permanently. What do you need to leave behind so you can move forward?

 

I advise that if you are unhappy with something in your life or business, change it or leave it!

 

Or take this oath with me and Say this out loud; I accepted it until today! 

 

It is time to Make a Change.

 

If you can't accept it, change it. If you can't change it, it may be time to leave it.

Either way, it's up to you!

 

If you think someone could benefit from this episode, share it, rate it, or subscribe for Free on Itunes or Spotify, so you don't miss out on the next three-word podcast.

 

Learn more about Simplifying Your sales meetings using 3-word topics at http://www.threewordmeetings.com.

Episode 161, Top 3 reasons why new prospects don’t want to meet with us.

Simplify Your Sales and Business meetings. Lisa Thal is an Author, Speaker, and Business Coach. She has over 35 years of marketing, sales, and leadership experience. She wrote the book "Three Word Meetings."  Lisa coaches leaders on simplifying sales and business meetings with fun and interesting 3-word  topics to motivate and inspire your sales team.

 

Episode 161,  Top 3 Reasons new prospects don't want to meet with us.

 

I was having a conversation with a sales executive, and they shared that they were trying to connect with a prospect they were targeting. I asked them to walk me through how many attempts they had made to connect. We reviewed was the account a good fit for our product and services? The answer was yes. They went on to share that they left a voicemail, emailed, and sent industry trend research but still no response.  

 

I shared that connecting with a new prospect takes about eight attempts. Many of you listening may be experiencing the same and having challenges getting that prospect to call you back.

Did you ever wonder why prospects don't want to meet with you?  

I recently read a sales blog by Anthony Iannarino that was a great reminder as to why a client may be resistant to a meeting that has nothing to do with you. The first step is that we must uncover why they don't want to meet with us and create strategies to change their mind.

 

Here are the top three common reasons why prospects refuse to meet with us and some recommendations to help you stand out and show value in meeting with you.

 

Unprepared for change
One factor causing prospects to refuse meetings could be that the buyer and their company aren't ready to make a change. They may be happy with their current vendor. Most people do not like change! It takes time and energy to make changes. Change can be scary, especially during times of uncertainty. The past several years have shown us.  

 

But a change can improve their results in many cases, but that doesn't make it any less scary," he explains. Anthony shared, "Some of it stems from the increasingly challenging internal process for any change initiative."

 

You can ease these concerns by acknowledging the difficulty of change and showing empathy. Showcasing compassion sets you apart from sellers who aren't as understanding. Nurture a relationship immediately with this dialogue, which will help put the prospect at ease. 

 

No need for a salesperson
Another reason prospects refuse meetings is that they believe they don't need assistance from a seller. This is rooted in the trend of decision-makers "consumerizing" B2B sales. As Iannarino writes, "Rather than risk allowing another salesperson into their office and their life, these stakeholders decide to go it alone: researching companies on the internet, mistaking information for insight, and overvaluing facts where experience and good counsel are needed." 

 

SalesFuel's research supports this; our  Voice of the Buyer survey  found that 40% of B2B buyers attempt to solve a problem/meet a goal with current resources before seeking assistance from a vendor.

 

To overcome this challenge, be prepared with research or something of value you can give to the client. It could be something that will save them time, create a better process or solve their most significant business needs. You are making the pathway to answering why meeting with you is so important. 

 

Bad experiences. 
We all have bad experiences, whether it's a restaurant where the food or service was average. You have a terrible experience with a company or service provider. Let's face it; our clients have bad experiences with other vendors. 

 

Our prospects hold on to those experiences with salespeople, which may be why prospects refuse meetings with anyone new. Those situations present a big challenge for us. While you can't erase their past experiences,  you "can make certain that every interaction you have with a prospect provides such a good experience that they will open to a conversation or  schedule time on their calendar for you."

 

Credibility is vital to show the prospect that you are a sales professional who engages in buyer-first selling and best practices; you must show that you are different from everyone else. SalesFuel offers plenty of tips for establishing credibility, from establishing social proof to weaving valuable research into your conversation. 

Remember No, means not yet. When prospects refuse meetings, don't give up. You can create many reasons that meeting with you will be a valuable and insightful experience worth their time. Remember,  "Your number one initiative should be increasing your effectiveness as the person guiding your prospective client through the process of exploring change, pursuing better results, and delivering new and better outcomes."

 

Just as Winston Churchill famously said, " Never give up, never ever give up."

If you think someone could benefit from this episode, share it, rate it, or subscribe for Free on Itunes or Spotify, so you don't miss out on the next three-word podcast.

 

Learn more about Simplifying Your sales meetings using 3-word topics at http://www.threewordmeetings.com. 

Episode 160, Six Ideas to attract new clients!

Simplify Your Sales and Business meetings. Lisa Thal is an Author, Speaker, and Business Coach. She has over 35 years of marketing, sales, and leadership experience. She wrote the book "Three Word Meetings."  Lisa coaches leaders on simplifying sales and business meetings with fun and interesting 3-word  topics to motivate and inspire your sales team.

 

Episode 160, Six Ideas to attract new clients!

 

Prospecting! I think I heard some of you say, Ugh.

What if there was a better way to gain new clients? Everyone listening to the podcast agrees they want to use the most effective and effortless process to gain new clients. Yes, sign me up; your saying.

 

The reality is that our business success depends on this one word – Prospecting! Find clients that we can help. This step takes a winning mindset, focus, and a system to get in front of our best prospects. 

 

We want to identify the clients that match our company profile of success and stop targeting those that don't so we are not wasting valuable time. 

 

If your job is to generate leads, below are six ideas to help you get in front of the client faster than your competitor.

 

Yes, there are many ways to prospect new clients. Pick up the phone and call someone. Target your competitor's key accounts and find a way to engage them with your company. Referrals are a tremendous prospecting opportunity if you ask your best clients and the fastest business conversions. 

 

In the end, people buy from those they are more familiar with, like, and trust.

 

Here are six ideas that you can implement to attract new clients.

 

1. Establish yourself as a thought leader

By establishing yourself as a thought leader or subject matter expert in your industry, you can show your credibility and trust before reaching out to new prospects.

 

For example, suppose you're in Marketing. You can write an article or post a blog on Linkedin with tips on how to better market your company, post a video that you believe can help companies save time when marketing, write guest articles for industry publications and speak at trade shows and conferences. Be a guest on a business podcast that gives you more exposure to new companies. 

 

Make comments, and share or like the content on your prospect's Linkedin or social channels. They will become more familiar with your name and company. Use five or more words to help your Linkedin Selling Index score when commenting.

 

2. Be a resource.

To be successful in sales, you have to do more than sell your product or service. You want to provide research and ideas to help solve their most significant business needs. Become a solution provider versus a salesperson.

 

You will likely gain referrals when you solve your client's most significant business need. 

 

3. Use video.

Capture the prospect's attention by adding "video" in the subject line and including a thumbnail image that links to the video. Use it to introduce yourself, provide additional content, or use to humanize your brand. Video is also great to recap your discovery calls as well.

 

4. Host a webinar.

Webinars can create leads for you because you know the attendees have a demonstrated interest in the topic. Not sure you can do a webinar on your own? Think about Partnering with another organization in your industry to host a webinar on a mutually beneficial topic.

 

After the webinar, poll your audience to see who's ready to learn more about your product/service. Consider a polling form that asks them to answer "Yes" or "No" to statements like "I'm ready to learn more," or "I'd like to learn more about [Three Word Meetings.]."

 

You now have a lead list! Follow up with those who responded positively to your poll or post-webinar survey within 24 hours, and schedule time for them to learn more. And don't give up on those who said they weren't yet ready to buy. Remember, no, means Not Yet!

Stay in touch over the next few months to see if their buying position changes.

 

5. Network with a purpose

Attend networking events that allow you to connect with the right people. Identify why people are attending a particular event or conference. If the agenda has topics relevant to your ideal customer, or if someone attending is from a company you are targeting, then attend that event.

 

Once you identify the events that will give you the most significant ROI, map out which sessions you'll attend and which happy hours or networking events make sense.

 

6. Answer questions on Q&A forums.

Seek ways to engage your prospects on trends and best practices in your industry — and eventually educate them on your product.

Online forums, like LinkedIn Groups, allow like-minded people to post questions to the group members or audience and source answers from experts in the field. Join these platforms, and build trust and expertise.

 

Successful people do things that other sellers are not willing to do.

 

The question is, What are you willing to do?

 

If you think someone could benefit from this episode, share it, rate it, or subscribe for Free on Itunes or Spotify, so you don't miss out on the next three-word podcast.

 

Learn more about Simplifying Your sales meetings using 3-word topics at http://www.threewordmeetings.com.

Episode 159, 3 skills you need to succeed in business!

Simplify Your Sales and Business meetings. Lisa Thal is an Author, Speaker, and Business Coach. She has over 35 years of marketing, sales, and leadership experience. She wrote the book "Three Word Meetings."  Lisa coaches leaders on simplifying sales and business meetings with fun and interesting 3-word  topics to motivate and inspire your sales team.

 

Episode 159, 3 Skills you need to succeed in business!

 

I have a question for you? Why do some salespeople hit their goals and others fall short? I know there may be exceptions to losing a significant account that could impact your year. Aside from that, there is one reason.  

 

Accountability! Yes, the difference is that those understand that their success starts with them! 

 

They don't wait and watch others do it; they do it.

 

It starts with you! You set the tone for your day. 

 

We hold ourselves accountable. The definition of accountability is an obligation and willingness to accept responsibility. We are proactive, acting in anticipation of future problems, needs, or changes.

 

Yes, we need accountability skills?

 

What Are Accountability Skills? 

Accountability is taking ownership of your actions. It is being responsible for you and your results. When you are accountable, you are committed to the goal and outcome. More importantly, committed to making progress.  

 

Here are 3 Tips to hold yourself accountable!

 

Set Your Own Goals and Accountabilities

Goals are the expectations. Accountabilities are where you stand and what needs to be changed. 

 

Once you determine your goal, what is the process to achieving them?

 

I love James Clear's quote from Atomic Habits book "You do not rise to the level of your goals. You fall to the level of your systems." 

 

What is your system to ensure you not only achieve and exceed your goal? 

 

You have to understand where you stand today with your business to know what systems and steps you need to take next. 

 

Once you have determined your goal break it into a more manageable and actionable short-term plan. 

 

For example, if you need to generate $2,000,000 in revenue annually, you know your short-term goal is to generate $500,000 each quarter.

You must close ten accounts each quarter if your average sale is $50,000.

 

Or your accounts may vary; you close a few $75,000 accounts and grow your current account base by $25,000.  

 

The accountability skill is understanding your numbers and owning them!

 

Own your Opportunities

Do you have enough clients to exceed your goal? More importantly, have you planned for account attrition? It happens to all of us. For example, your best account goes with another vendor.

 

According to Marketing at Work, the average business loses about 10 to 25 percent of its customers yearly.

 

Accountability skill number two is having enough clients and new prospects in your pipeline.  

 

Do you have enough opportunities to reach your quarterly goals? This tends to be an area most of us fall short of. A pipeline review is all the opportunities you are pursuing and where they are in the sales process.

 

To understand your pipeline, start by asking yourself these questions:

• How many opportunities do I presently have in my pipeline?
• What is the total value of these opportunities? 25% of the accounts we have as a target are not a fit for our products. Let's remove those.
• What percentage of these opportunities would I have to win to make my number?
• Do I have enough business to make my number this quarter?
• Have I factored my 10-25% attrition rate into the quarter?

 

The next question we have to answer is, are your activities producing the desired outcomes? 

 

How well is your plan working?

What changes do you need to make? Conducting these self-reviews will allow you to understand what's working, what's not, and what changes need to happen.

 

Be honest with yourself.

Accountability skill number three, Honesty, is the best policy! Be honest with where you are today and what you need to do moving forward.

 

Hold yourself to a higher standard than anyone else will. 

• Do I have enough accounts and business to exceed my goal? What is one adjustment I can make today?
• How do I attract more new clients?
• Can I upsell my current accounts? 
• What do my future opportunities look like today?
• What process do I need to do to ensure my next month improves?
• What have I learned? What needs to change? What is working? What do I need to do more of in the future?

 

I recommend scheduling a meeting on your calendar for a self-review on the first day of each month. We don't want to wait for our end-of-year review; it will be too late to make the adjustments.

 

Taking responsibility and owning the result, regardless of the circumstances, will allow you to make adjustments and improve in the future. 

 

Successful people do things that the unsuccessful aren't willing to do. They create better systems, look for ways to improve daily, and take action.

 

I will leave you with this phrase: If it's to be, it's up to me!

 

If you think someone could benefit from this episode, share it, rate it, or subscribe for Free on Itunes or Spotify, so you don't miss out on the next three-word podcast.

 

Learn more about Simplifying Your sales meetings using 3-word topics at http://www.threewordmeetings.com.

 

 

Episode 158, 8 tips to keep your sales from going on vacation.

Simplify Your Sales and Business meetings. Lisa Thal is an Author, Speaker, and Business Coach. She has over 35 years of marketing, sales, and leadership experience. She wrote the book "Three Word Meetings."  Lisa coaches leaders on simplifying sales and business meetings with fun and interesting 3-word  topics to motivate and inspire your sales team.

 

Episode 158,  8 tips to keep your sales from going on vacation.

 

Yes, Summer has arrived, but your sales don't have to.

 

How does the Summer season impact your sales? 

Have you found it even harder to connect with new prospects?  

If you're shaking your head, yes, you are not alone; the Summer presents challenges and opportunities when setting meetings.

 

Our prospects go on Vacation.

Our calls go unanswered. 

Even our LinkedIn requests don't get accepted as quickly. 

It makes our job more difficult when trying to generate sales.

 

So we need to design a plan around when people are on Vacation.

I researched and discovered that certain weeks are more popular than others.

 

For example, you can almost guarantee an automated reply the week of July 4th. According to data from Tripadvisor, July and August are the most popular vacation months. Keep this in mind when building your outreach strategy.  

 

I read an article from Emma Brudner from Hubspot, who shared some great tips to get us back on track during the Summer. 

 

Prospect, prospect, prospect.

40% of sales reps agree that prospecting is the most challenging part of the sales process- so it's easy to lose focus. Especially during vacations!

So we can't let our prospecting go on Vacation. We need to continue to find new customers who are a fit for our product and services.

 

Add more qualified prospects for you to target.

The secret to beating monthly quotas is maintaining a consistent pipeline of opportunities. Schedule time daily for prospecting in your calendar; think about the best time of the day that they are more likely to answer your calls.

 

Set Google Alerts

Just because people are on Vacation during the Summer doesn't mean business stops. If you see relevant news, it gives you another reason to reach out and connect. Set up Google alerts for your prospects' companies to keep up to date on any significant announcements. 

 

In addition, keep an eye on clients LinkedIn profile and note any changes. New title? Updated summary? Send a message and rekindle the conversation.

 

Seek referrals.

July is a great month to check in with your current clients and see if some other divisions or service lines can use similar help.

 

Do the work for your client. Look at your best clients' LinkedIn profiles and identify a few companies you know could benefit from a conversation with you. Ask your client if you can say that they recommended you connect because they are happy with the business results they are getting from your product or service. You will build instant credibility, and it will shorten the sales cycle. 

 

 

Upsell.

Is there an opportunity to help solve another critical business issue? Any other emerging growth areas that you can help bring a solution. You have already developed credibility and rapport. 

 

 

Revisit accounts that said no.

Remember no means, Not yet! The prospect who said it wasn't the right time a few months ago? Well, it just might be the right time now. Is there research or a relevant success story that would be important for this client? Are there other business needs that have arisen since your last conversation? Call with a purpose to see if they are on track with their business goals?

 

 

Change up your messaging.

If no one is answering your emails or calls? Stand out from other messages by adding a bit of humor mixed with a dash of seasonality can go a long way in grabbing clients' interest.

 

For example, you might kick off a voicemail with, "You're probably on a beach somewhere now, enjoying the sound of the ocean versus me." It helps if you know something about the prospect that you could tailor a fun message.

 

Go on Vacation.

We deserve and have earned a vacation. So make sure you take some time off. For maximum vacation restoration, leave your laptop behind and turn your cell phone off.

 

There are business opportunities around you while you're on Vacation. I have met new prospects at the hotel, pool, and golf course. Everyone is in a great mood, and conversations flow, just like their favorite beverages.

 

 

Create a Summer Incentive 

Every business goes through a slower sales period. Create a fun incentive that can inspire your team to make that extra call on new prospects to help their sales.

 

Ideas could include:

• Tickets to the Hottest Summer Concert 
• Tickets to Summer Theme Parks
• Tickets to Sporting events
• Tickets to a Comedy Club
• Dinner at a Hot restaurant
• Summer Spa day retreat
• Suppose you don't have the resources to buy the incentives. Offer extra days off work, or they get to work remotely every Monday or Friday if that is not a current option.

 

All this talk about Vacation has me excited about booking my next trip. So I will leave you with aloha.

 

If you think someone could benefit from this episode, share it, rate it, or subscribe for Free on Itunes or Spotify, so you don't miss out on the next three-word podcast.

 

Learn more about Simplifying Your sales meetings using 3-word topics at http://www.threewordmeetings.com.

Episode 157, 3 Strategies from the Father of Business-Warren Buffett!

Simplify Your Sales and Business meetings. Lisa Thal is an Author, Speaker, and Business Coach. She has over 35 years of marketing, sales, and leadership experience. She wrote the book "Three Word Meetings."  Lisa coaches leaders on simplifying sales and business meetings with fun and interesting 3-word  topics to motivate and inspire your sales team.

 

Episode 157, 3 Strategies from the Father of Business-Warren Buffett!

 

Happy Fathers Day to all the great men I have the privilege of working alongside and those Fathers and mentors impacting others' lives. Thank you!

 

I was thinking about the one Father I have never personally met, who has taught me business and life lessons over the years, Warren Buffett. At 91, he continues to share his road map of success with so many of us.

 

I thought it would be fun to share several insights and strategies from the most recent Berkshire Hathaway annual meeting that you can apply to your business.

 

Consider this question, Should you Diversify your accounts?

What Is Diversification?

We learned not to put all money into one fund from an investment standpoint. Financial advisers use the phrase; Diversification will mitigate losses or risks by spreading your investments across multiple investments and different vehicles.

 

The idea behind this is that the positive gains generated by one investment effectively balance out any losses caused by another investment.

 

When looking at your business and accounts, would you say you are diversified? You likely have several large spending accounts that make up 60% -70% of your income and 40%-30% of other smaller accounts. We get comfort in knowing that we are diversified should any clients go away.

 

Warren Buffett, the Billionaire investor, feels differently. In his view, studying one or two industries in great depth, learning their ins and outs, and using that knowledge to profit from those industries is more lucrative than spreading a portfolio across a broad array of sectors so that gains from specific sectors offset losses from others. 

 

What should we do? Dig deeper to gain insights into your best clients. We need to know the ins and outs of each account.

Where are your opportunities with your clients?

What problems could you solve for them, and the investment they need to make with your product or service long-term. Let go of the accounts that don't have the budget and take time away from you, focusing on accounts with upside.  

 

Knowledge Is Power

Buffett created a fortune by acquiring knowledge about finance and specific companies and industries. He took that knowledge and hand-picked his investments. The part of the quote about how important it is to know what you're doing is something Buffett can speak to with authority.

 

An investor who studies trends and understands how different companies and industries react to various market trends profits much more by using that knowledge to their advantage rather than passively investing across a wide range of companies and sectors.

 

The same theory applies to our clients. Knowledge is Power! We have to study trends and understand the different clients we work with to be able to help them. Our clients are buying knowledge from us. They are investing in you and your company for profits for their company.

 

The person and company that helps them achieve this based on data, which is knowledge, market trends, and opportunities in the marketplace, and brings a solution to what they need will win the business. It's our job to maintain that with each of our clients. 

 

How to beat inflation

With inflation at its highest level in 40 years, shareholders wondered how to protect themselves from losing purchasing power as prices climb higher.

 

"The best thing you can do is be exceptionally good at something," Buffett said. "Whatever abilities you have can't be taken away from you." 

 

Buffett said the way you get paid or the amount might change with inflation, but if you're the best at what you do, people will always be willing to exchange some of what they produce for what you deliver.

"The best investment – by far – is anything that develops yourself," he said.

 

To be successful in business, keep your skills relevant and keep learning. 

 

That's why professional development is essential. To continue progressing in your sales career, consider developing and refining the following skills.

 

Ten Sales skills to help your business.

1. Effective Communication
2. Product Expertise
3. Problem Solving
4. Business Acumen
5. Negotiating
6. Prospecting
7. Collaboration
8. Relationship-Building
9. Following Up
10. Closing
11. Adaptability
12. Active Listening

 

In most cases, people buy from those they like and trust. What can you do to keep investing in yourself? What additional skills or knowledge can you gain to protect yourself? Protect your relationship with your current clients and gain new customers? 

 

It starts by asking yourself whether you would buy your product or service. Suppose it's a yes; congratulations. If you are unsure or it's a no, let's learn the skills to make it a Yes.

 

Change one habit

Warren Buffett has always shared his success tips for better investing and living a better life. He has done this by leading by example and one habit at a time.  

 

Warren's advice may be a good starting point to overcoming obstacles that may be keeping you from achieving your full potential. It's a simple theory, Get rid of your bad habits.   

 

This process isn't as challenging as you imagine, so the first thing to do is stop thinking about all the changes you need to make. Instead, focusing on improving one thing at a time is the key to lasting change.

 

It's those bad habits that keep you stuck and not moving forward. It starts with the people you surround yourself with every Day. My mom would always say to me you become whom you hang around. If you want to achieve things in life, surround yourself with those that have achieved them. Create an environment of growth and stretch yourself with those more intelligent, more innovative, and authentic who have your best interest.

 

Investing in you is the best return on investment! 

 

Learn more about Simplifying Your sales meetings using 3-word topics at threewordmeetings.com.

Episode 156, Do this every day to protect your business and income!

Simplify Your Sales and Business meetings. Lisa Thal is an Author, Speaker, and Business Coach. She has over 35 years of marketing, sales, and leadership experience. She wrote the book "Three Word Meetings."  Lisa coaches leaders on simplifying sales and business meetings with fun and interesting 3-word  topics to get your sales team motivated and inspired.

 

Episode 156, Do this every day to protect your business and income, Prospect!

 

If you want to build your client list and create more income for yourself, you need to master doing this, Prospect with Intention!

 

Hello, Three Word Podcasters!  I am Lisa Thal, and I share my thoughts on three-word topics to help engage and inspire you and those you lead. Three words you can use as a topic in your next sales meeting.

 

In last week's episode 155, I shared the formula for Productivity if you are in sales. The most effective and quickest way to shorten the sales cycle and build instant trust with that prospect. The best source, of course, is a referral from your best customers.

 

Why is prospecting vital to you? Because it protects your income and allows you to control your destiny. You could be one phone call away from a client canceling or choosing another vendor.

 

What Is Prospecting?

Sales prospecting is taking action and intention to look for potential buyers, customers, or clients to convert into new business. Your goal is to provide a solution to the most significant business problem they are facing today. You do this, and you will earn their business. 

 

Sounds simple and not easy!

 

While the concept is simple, an effective prospecting strategy is challenging to execute. Research shows that 50% of sales time is wasted on unproductive prospecting. We are focused on accounts that are not a fit for our product or service. They don't have the budget to invest in executing the solution you are providing. Think about it—how much more selling could you do if you weren't wasting so much time on these clients.

 

Today that changes as we focus on seven ways to improve your new business prospecting.

 

Who are your best clients?

The most critical step in prospecting is understanding your best client, their interests, pain points, and what motivates them to buy. Your sales efforts will fall short if you don't know whom you can help. Start by reviewing your best customers and determine what they have in common, the Size of the companies, and the problems they may be facing that you have solved. When prospecting, we may be wasting valuable time calling on clients that we can't help or that don't have the budget to invest in our products to be successful.

 

Consider the different types of clients who have the most success with your product. 

 

Who are they? 

Why do they buy? 

How have you helped them?

 

The more specific you get, the more granular you can get with your sales prospect list. If you don't know the answers to the questions above, interview your best clients and ask them the questions above.

 

Would you answer your call?

Master making calls. The question is would you make an appointment with yourself? Have you proven that making time on their calendar is worth it? 78% of decision-makers have taken an appointment from a cold call. It starts with a conversation from you and a valid business reason why they should meet with you.

 

Do your research.

To have confidence in calling, you have to identify the why. 

Is there something you read about their company that you can help solve?

Is there an industry trend that will impact them?  

What are some of their potential pain points?

How can you solve their specific issues? Are they working with any of your competitors? The more information you have, the more confident you will feel and the better you can speak to their specific wants and needs.

 

Be Proactive and Consistent

It's easy to put sales prospecting at the bottom of your list, but creating sales must consistently be a daily activity. 

 

Consider setting daily prospecting goals. 

How many cold calls should you make a day? 

How many emails should you send? 

In most cases, you have to find and develop your leads. By establishing a method and process, prospecting quickly becomes a habit and can help you avoid any revenue shortfalls.

 

Nurture Relationships

Even after perfecting your sales pitch and contacting all the right people, you could still have the client say no. Some of the businesses we are targeting may be happy with their current vendor. It's essential to stay close by connecting and sending them relevant information to help their business. Develop a prospecting strategy to nurture these prospects until they become ready to buy.

 

The key to building a lasting relationship with a prospect is to understand why they said 'no' in the first place. Many times, 'no' really means 'not yet. Learn from each call and ask the prospect for help in understanding their hesitation or why your product isn't necessarily a good fit. 

(Learn more) Overcoming Sales Objections: The 5-Point Guide.

 

Sale is a Journey

I often hear timing is everything. Your best customer today started with a phone call or in-person meeting. Let's face it; it is challenging to close a client on the first call. It's a process of building trust and earning a conversation to have the opportunity to help solve their business problems. Your ability to stay relevant and bring solutions to the clients is vital. 

 

One Size does not fit all.

Get creative and try different sales prospecting techniques. What works to find and convert one prospect might not work the next time you try it. Try other methods, track your results, and improve your strategy. Just keep moving forward. Each new prospect is motivated by various things. Our job is to discover what that is and give it to them.

 

The real-estate industry focus on Location, Location, Location. If we want to stay in business and grow our income, we must embrace these words: Prospect, Prospect, Prospect every day!

 

If you think someone could benefit from this episode, share it, rate it, or subscribe for Free on Itunes or Spotify, so you don't miss out on the next three-word podcast.

 

Learn more about Simplifying Your sales meetings using 3-word topics at http://www.threewordmeetings.com.

 

Episode 155, The Proven Formula to be productive in sales.

_{Simplify Your Sales and Business meetings. Lisa Thal is an Author, Speaker, and Business Coach. She has over 35 years of marketing, sales, and leadership experience. She wrote the book "Three Word Meetings."  Lisa coaches leaders on simplifying sales and business meetings with fun and interesting 3-word  topics to get your sales team motivated and inspired.}

 

_{Episode 155, The proven Formula to be productive in sales.}

_{I share my thoughts on three-word topics to help engage and inspire you and those you lead. Three words you can use as a topic in your next sales meeting.}

 

_{We are mid-way through our year or, for some, finishing your year, and I have a question for you? Are you on track to exceed your revenue goals? Will your team exceed its revenue goals if you are an owner or manager?}

 

_{Yes, we access each month whether we meet or exceed our goals. Are you making shifts to make sure you're doing the right activities each day to assure you will have success?} 

 

_{We are doing mid-year reviews with our team members to discuss any shifts they think they need to make to stay on the path to success. We are trying to determine if they are doing the right activities to be more Productive vs. busy. We can fall into the trap of thinking we are so busy at the end of each day, only to discover we were not doing the right activities to move our business forward.}

 

_{The Companies and sales teams that perform consistently do the right activities each day. If you manage a team and notice one of your team members not meeting expectations, what advice do you give them? I hear most of you saying they need to make more calls? Yes, that may be true. Do you know the exact number of calls? How many proposals? What investment level? What is their closing ratio for each team member?}

 

_{It can be very frustrating at the end of the week to see if you were so busy with emails and other tasks that you missed the opportunity to protect and grow your business and your income. Yes, the more data you have on how to coach your team, the better.   What I know for sure is that what you do each day matters. Taking action each day creates a compounding impact on your business. The book Atomic Habits re-enforces this theory that doing something each day will make that winning habit for yourself.}

 

_{The Formula for Productivity is Win the Day! I learned this simple yet effective strategy from the Center for Sales Strategy team. The goal is to be focused each day on activities that can be more productive and effective for your business.}

 

_{I love this because it allows your seller to own and win their day. Yes, you have opportunities to go on calls in the field with them and coach them. But your calendar may not allow you to be with them every day.}

 

_{The formula, Win The Day, has your seller focus their time and efforts on what they need to do to create new business and grow their current account list. I will have an exact copy of what I share with you in the show notes.}

 

Win the Day and Create More Income
Created Business Sales Activities - the sales activity point tracker
		Monday		Tuesday		Wednesday		Thursday
	Points	Client	Total	Client	Total	Client	Total	Client
Getting a Created Business referral	3
Setting a Created Business Appointment for A Needs Analysis	8
Conducting a Created Business Needs Analysis	10
Meeting/Call with a Created Business prospect/client focused on creating or refining a solution	15
Presenting a Created Business proposal in person	30
Closing a Created Business Deal	20
Closing a Created Business Target Account	30
Renewing a Created Business Key Account	10
Renewing a Created Business Key Account for More Money	30
TOTALS			0		0		0

 

The goal is to earn 60 points a day by doing various activities, Productive activities that help your business, not just busywork. The seller gets to choose, and it will be challenging the first few days as you ask your seller to shift their focus. It's important to note that your seller can't make the points up in the week, 60 a day and 300 by Friday!   Sales is a numbers game, but what you focus on, you get! I love this formula because it gives focus and control to the salesperson. It creates a road map to successful behaviors that require action.   If you think someone could benefit from this episode, share it, rate it, or subscribe for Free on Itunes or Spotify, so you don't miss out on the next three-word podcast.   Learn more about Simplifying Your sales meetings using 3-word topics at http://www.threewordmeetings.com.

 

 

Episode 154, How to create a Successful First meeting with a new client!

Simplify Your Sales and Business meetings. Lisa Thal is an Author, Speaker, and Business Coach. She has over 35 years of marketing, sales, and leadership experience. She wrote the book "Three Word Meetings."  Lisa coaches leaders on simplifying sales and business meetings with fun and interesting 3-word  topics to get your sales team motivated and inspired.

 

Episode 154, How to create a Successful First meeting with a new client!

 

If you are in sales, your income depends on how well you do this.  

Make sales! And making sales starts with earning a conversation with the client and solving their problems. 

 

Have you ever heard the phrase No Pain, No Gain? I am guessing that picking up the phone to make a cold call to a prospect may feel more painful? But you do it. You convince the prospect to meet with you; great job. Now the real work begins. 

 

So I have a question for you?

 

You are at the first meeting you worked so hard to get.  

Are you prepared to ask thoughtful questions to help them? 

The questions you ask at your first meeting will set the tone for how the client views you and your company?

Do you have a list of questions? 

 

A great way to engage your team in your next sales meeting would be to have the group share what questions they are asking in that first meeting?

You can then break into small groups, or if you are working remotely, go into breakout rooms and discuss the most compelling questions your team should be asking that will help you gain vital information to help the client solve a problem.  

 

Your team is prepared with questions to ask the new client at the initial meeting.

 

I want to share High Gain Questions that Caryn Kopp of Kopp Consulting recommends. Caryn's company success focuses on asking High Gain Questions that I thought would be helpful to share with your team.

 

 

What is the best way to do this? 

 

 

During your First Meeting 

 

Tell me a little about your role and how you're structured there. 

 

What are the most important issues you want to be solved, or what do you wish was working better as it relates to ______________? 

 

What have you already tried that hasn't worked? 

 

What has worked? 

 

Tell me more about that. 

 

If this is nirvana for you after the meeting, what is the process for us to work together? 

 

Who needs to be involved, and what paperwork needs to be signed? 

 

What do you wish you could get from your current vendor (or vendor you previously used) that you can't get? 

 

What kinds of ____ needs do you have which are immediate versus those coming down the pike?

 

 

For opportunities uncovered: 

 

Will you be making the decision, or will there be others involved?

 

If there are others involved in the decision, what is important to each of them in choosing a vendor? 

 

If you receive multiple proposals and all things look equal, including price, how will you go about making a decision? 

 

If you are receiving multiple proposals and the proposals look different to you, how will you go about making a decision? 

 

When are you looking to begin the project, and when do you need it completed? 

 

Let's schedule a time on the calendar so I can walk you through the proposal and answer any questions you may have. 

 

How's next Thursday for you, 10 am?

 

What is your cell number (if you don't have it) so I can text you a question as I put the proposal together.

 

 

Remember, everyone's time matters, including yours. Make sure you are more prepared than your competitors by asking High Gain questions, so you have the opportunity to earn the business over them! 

 

Learn more about Caryn Kopp and how her company is opening doors to decision-makers- http://www.koppconsultingusa.com 

 

 

If you think someone could benefit from this episode, share it, rate it, or subscribe for Free on Itunes or Spotify, so you don't miss out on the next three-word podcast.

 

Learn more about Simplifying Your sales meetings using 3-word topics at http://www.threewordmeetings.com.

 

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