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Close Your Execution Gap

October 11th, 2019

A recent survey at MIT Sloan of more than 400 CEOs revealed that the ability to execute strategy was their number one challenge, ahead of innovation, geopolitical instability, and top-line growth.   These results closely mirror my own empirical experience working with hundreds of private business owners.   Overwhelming data from many studies prove that the vast majority of organizations are decent at developing strategies, but suck at execution.

 

A solid business plan is certainly important, but I have often witnessed companies with first-rate strategies, deep pockets, or a better mouse trap get stomped by competitors with a lesser strategy and better execution.    Simply stated, companies that execute win.

 

How would you rate your own organization’s ability to consistently execute?

 

Do you have a specific plan to close your execution gap?

 

How is it working for you?

 

Like all issues facing your company today, the problem (and solution) resides in the CEO’s office.   When it comes to execution, the entrepreneurial bell-curve consists of three main categories of owners:

 1.  Winners:   Those owners that execute consistently and thrive.

 2.  The Majority:  Those that constantly struggle to survive.

 3.  Wheel-Spinners:   Those that fail consistently.

 

Wheel-Spinners spend the vast majority of their time and resources putting out fires, working inside their business, addressing tactical urgencies, and allowing distractions or shiny objects to govern their behaviors and activities.  The Majority also exhibits similar behaviors, except they do so to a slightly lesser extent.

 

Winners choose to think, act, and behave differently.  Skillfully.  Here are just a few of the distinct characteristics of Winners…:

  • Winners think, and therefore speak, differently than most owners to themselves and others.

  • Winners understand that there is no more powerful force than focused energy.   They choose to use their limited time, money, energy, and resources wisely.  (This sounds trite, but most owners make other choices!)

  • Winners understand that they can do anything, but that they cannot do everything.   They consequently make sure to commit sufficient, personal time each and every month to work on, versus in, their business.  And they make sure they keep this commitment.  No matter what.  Winners unconditionally commit. 

  • Winners understand the difference between hard work and smart work.  They choose to focus upon smart work.  They do not care about keeping busy.  They know (and tons of research shows) that most busy work is wasted energy (aka:   wheel-spinning).   Winners only care about keeping productive.  They care about results.

  • Winners understand that there is nothing they can do in their business that will have a greater impact on achieving their personal and business vision and goals.

  • You will rarely (if ever) hear a Winner say they “don’t have time”, or “they don’t have money” or they are “really busy”.  Winners know that everyone has 24 hours in a day, and that everyone spends their limited time and money on something.  

  • Winners understand that success and excellence require personal humility, self-awareness, and discipline.  They also understand that consistent execution requires the ability to learn faster than their competitors, and they know they cannot succeed alone.  

  • Consequently, Winners embrace assessments, criticism, and feedback and make sure to proactively seek out the assistance of other owners, coaches, accountability partners, and peer support groups.

 

If you believe you have an Execution Gap, there is no need to reinvent the wheel.   In fact, why would you even try, when you already have the formula?

 

You can close your gap by simply modeling the behavior of Winners.

 

I hope you will start today and will share your experience and significant results.

 

Copyright © Joe Zente  2019.  All Rights Reserved.

 

 

The Core Foundation of All Sales Success

September 11th, 2019

If you’ve been seeking ways to increase the selling effectiveness of yourself or your sales team, you have probably noticed that buying behavior has changed over the last decade, and that it might be a good idea to adapt your selling approach to accommodate these changes.

You may have also learned about some new sales processes, strategies, models, skills, and techniques designed to improve win rates in today’s digital, information-rich environment.

I agree that each of these attributes contribute greatly to effective selling.  In fact, we have helped hundreds of organizations to embed powerful sales strategies and processes, and have trained thousands of salespeople to develop the skills to deploy them.  However, even the best processes and training programs will have diminished impact in the absence of the most important selling attribute, an empowering belief system.

We all possess beliefs.  When it comes to selling, some of these beliefs empower effective selling, while others detract.  Some popular beliefs actually torpedo any prospect of generating a sale. 

A person’s beliefs drive every aspect of their selling behavior.   Let me say this again.  A salesperson’s beliefs drive every aspect of their behavior.

Quite simply, beliefs determine selling success.

Some beliefs support effective selling, other beliefs limit selling effectiveness.   Interestingly, extensive research shows that most salespeople think they have an empowering set of beliefs.  In reality, the opposite is true.

A seller’s beliefs have a dramatic effect on the words they choose.  Beliefs also control a salesperson’s tonality, their body language, their questions, how they listen, what they hear, what they miss, how much they talk, their intent, how much time they spend selling (versus wheel-spinning), how often they leave their comfort zone, and much, much more. 

Most importantly, these behaviors have a huge impact on how a salesperson is perceived by a buyer.  And in the vast majority of cases, buyer perception will determine who gets the sale.  Period.

The belief system of a salesperson lies squarely at the core of selling success.  Your beliefs do not only have significant correlation to your results, they have the greatest correlation.  Even if a person has learned a great sales process and even if they have developed some selling skills, they will never break out of mediocrity unless they develop an empowering set of beliefs. 

So, if you want to sell more (a lot more), start by changing your beliefs:

1.  Understand the difference between beliefs that empower effective selling, and those that limit effectiveness.

2.  Commit to replacing all your limiting beliefs with empowering ones.

3.  Share empowering beliefs with others on your sales team to accelerate the speed of your learning and support each other through reinforcement.

You’ve developed your current set of beliefs over the course of your entire lifetime, so developing a new set will not occur overnight.  Doing so will require a commitment, a practice and a bit of time.  However, you will begin to see positive effects quickly and I can promise the rewards will be well worth the investment.

And your new, empowering belief system will be the gift that keeps on giving.

Enjoy the journey.  If you’d like to share your results, or if you need any help, I’d love to hear from you…

 

 

Copyright © Joe Zente  2019.  All Rights Reserved.

The Dysfunctional Relationship Between Owners and Salespeople, and How it Will Cost You a Fortune

August 7th, 2019

All business owners want their salespeople to perform consistently.   Unfortunately, the vast majority of salespeople don’t even come close.

 

While mediocre sales performance often results from multiple components, one problem is nearly universal.   This pervasive success-killer exists in almost every private business, as well as in most large public companies.   Fortunately, the problem can be reduced or completely eliminated fairly easily, leading to significant improvements in your overall sales growth and profit picture. 

 

If you are like most private company owners, you have a highly dysfunctional, relationship with your salespeople.   This co-dependent dysfunction is mostly hidden from view, so it typically goes unnoticed until it is too late. Let’s call it the I-Can-Do-It Syndrome (ICDI).

 

Like most co-dependent dysfunctions, ICDI creates a feeling of near-term gratification for those involved.  Owners and salespeople may even feel like they are doing the “right thing”.   Unfortunately, the syndrome quickly creates habits that are highly destructive, ultimately preventing everyone from achieving what they really want, to exceed their sales goals and make more money.

 

ICDI Syndrome creeps in like a virus, then quickly becomes a transparent part of your system, allowing it to destroy from within.  Here’s how it happens:

 

You want to grow your sales, so you decide to hire someone to sell.    You recruit and hire a candidate you believe to be the best salesperson.    Following what I hope is a great training and on-boarding program, your new salesperson is ready to hit the ground running and set new sales records for you.  Then reality sets in.

 

YOUR REALITY:

 

As an SMB owner, it is highly likely that:

 

1.          Your company has more things to do than hours each week to get them done.  (Unplanned stuff happens all the time…)

2.          Most (or all) employees in your company wear more than one hat.

3.          Some issues and urgencies pop up that reside outside of any particular employee’s job description.  No one “owns” these issues, but you have good, loyal employees that are willing to chip in to try to resolve them.

4.          You may not have a competent, full-time sales manager (in fact, many private companies do not have anyone that ever consistently manages sales to keep salespeople focused and productive).

5.          If you want your salespeople to achieve their sales goals, you should clear the deck to make sure they spend all of their time selling.

 

YOUR SALESPERSON’S REALITY:

 

1.          In sales, Time = Money.   If a salesperson does not invest the time necessary to sell, they will fall short of their goals.   If they don’t sell, they won’t sell.

2.          Believe it or not, most “salespeople” in the market today entered sales by default.   Consequently, most really do not like to sell.

3.          Of the ones that do like to sell, the majority don’t really know how to sell effectively.

4.          All salespeople (and managers and owners) behave as they do, because that is how they choose to behave.

5.          Given the choice, most salespeople will choose to stay inside their Comfort Zone by doing the easiest (and least effective) parts of “selling”.   Some easy sales activities include:

 

·                 Sending emails

·                 Preparing proposals

·                 Entertaining (golf, lunches, etc.)

·                 Calling hot, pre-qualified leads

·                 Giving presentations

·                 Demos

 

6.          Conversely, most salespeople also choose to avoid doing the more challenging (but most effective) parts of selling, the ones required to perform consistently.  Some examples are:

  

·                 Consistent prospecting

·                 Asking “tough”, assertive questions

·                 Gaining Commitments from buyers.

·                 Executing their critical daily sales activities with discipline

·                 Calling decision makers, key targets and influencers, including cold or warm leads

·                 Active, empathetic listening

·                 Maintaining an Unconditional Commitment to Continuous Improvement

·                 Uncovering true buying motives and budgets

·                 Proactively seeking accountability

·                 Leaving one’s Comfort Zone

 

7.          Given the choice between executing the effective sales activities which require leaving one’s Comfort Zone, or doing just about anything else, many salespeople would be happy to simply be a good team player and:

  

·                 Handle customer service issues

·                 Fix a broken pipe

·                 Put out a fire

·                 Take unqualified incoming calls (including social ones)

·                 Do some internet research (or other related surfing activities)

·                 Pick up lunch, deliver a package, run errands, etc.

 

Here’s the bottom line.   Just about every activity your sales team performs in sections #5 and #7 above carry a huge opportunity cost, because they are done in place of the critical activities outlined in section #6 that are required to grow sales.

 

In order to generate sales on a consistent basis, your salesperson must start by SELLING on a consistent basis.    It’s simple math.  Even if a salesperson is weak, they will still sell more if they spend more time selling.

 

So, if you are a business owner or leader truly committed to growing your sales, I would urge you look closely at how much time your salespeople actually spend selling, and to evaluate if ICDI Syndrome may have crept into your company with some or all of your salespeople.  Then take action.

 

Remember, if they don’t sell, they won’t sell.

 

The choice is now yours.  The transformation of any sales organization begins by changing the beliefs, choices, declarations and behaviors of the owner.

 

It is for you to decide, and clearly articulate, how your salespeople are expected to invest their time and to decide what steps you will take today in order to clear the decks to ensure they will invest it properly.

 

Best wishes for your continued success…

 

 

Copyright ©   Joe Zente  2019.   All Rights Reserved.

 

 

 

 

 

Two Words that Differentiate Great Sales Organizations from Mediocre Ones

July 9th, 2019

Over the last two decades, Z3 Performance Development has helped many hundreds of business owners and CEOs build world-class sales organizations.  During this time, I’ve also personally observed several thousand companies struggle mightily to achieve better sales results (most of them never break out).

 

From my vantage point (and tons of additional research), the difference between those companies that create consistent, predictive, profitable, scalable, effective sales teams and those that continuously wallow in mediocrity has become abundantly clear. The difference can be summarized in just two words.

 

I’d love to tell you that the difference between superior and inferior sales teams lies in some unique recipe, magical formula, newly discovered revelation, or space-aged technology; in some type of quick fix. But that simply is not true. Before I share the two words that make the difference, let me start by sharing some popular misconceptions–tactics that many CEOs think may be the difference, but are not.

 

The difference between a great and a mediocre sales team never lies in…:

 

1. A sophisticated reporting system.

 

2. A phenomenal sales compensation or incentive plan.

 

3. A complex CRM or sales automation system.

 

4. Paying big bucks to sales recruiters.

 

5. Sales Manager ride-alongs

 

6. Motivational speakers  

 

7. Group Sales Meetings

 

8. The latest and greatest new sales webinar, LMS, training program, or YouTube video.

 

Although some of the above strategies, and several other sales improvement tactics or philosophies, may add some incremental improvement to some sales organizations under certain conditions, none of these items (or even the combination of all of them) will create a superior, consistent sales organization.  The difference is much more fundamental.

 

Predictable, visible, profitable growth is simply borne out of PROCESS and DISCIPLINE.

 

Process & Discipline. So, if you are struggling, these two words are the difference between where you are today, and a reliable, effective, world-class sales organization.

 

Here’s just a few reasons why a solution based upon Process & Discipline (P&D) is such great news:

 

·         The P&D Solution is time-tested and battle-tested, removing all mystery. P&D doesn’t operate on a “let’s try this to see what happens…”. You need not worry if it is “going to work”. It does.

 

·         P&D works EVERY time, for every type of sales organization, market, product, or service.

 

·         P&D works for sales teams of all sizes.  It doesn’t matter if you have 1 or 1,000 salespeople.

 

·         P&D becomes a behavioral rhythm in your organization, creating a world-class sales culture.

 

·         P&D is the least expensive potential solution. It is a highly profitable approach. Once you’ve implemented effective sales, sales management, sales recruiting, sales assessment, and on-boarding processes, you have NO additional incremental costs. You and your team simply need to maintain the discipline (habits) to execute your processes (in the same way your payroll department pays employees with discipline).

 

·         P&D is highly visible. This approach produces all sorts of leading indicators that will provide objective insight into your true sales pipeline, future business, trends, and accurate forecasting.

 

·         P&D is incredibly time effective. Your salespeople and manager(s) will be spending their precious time generating new, profitable sales growth instead of wasting it on distractions, CYA, and other useless activities that cut deeply into missed opportunities and margins. 

 

Whether you’re just beginning to develop a new sales team, or whether you’ve been seeking ways to improve an existing one, I strongly encourage you to seriously evaluate where your sales organization resides with regard to Process and Discipline. If there are deficits in either, I can promise you that these deficits are costing you dearly.

 

If you need more information or have any questions, please let me know.

 

If not, please share your success stories that result from implementing a P&D solution.  I’d love to hear from you.

 

Copyright ©   Joe Zente  2019.   All Rights Reserved.

Five Popular Ways People Set Themselves up to Fail

June 18th, 2019

Have you ever considered the real COST to falling short of your goals?

 

The many studies that have been conducted on goal setting have varied considerably in scope, timeframes, data, and conclusions.  However, independent of whether the studied goals were small, big, short-term, long-term or BHAGs, all of the studies agree that only a very small percentage of those who set goals actually achieve them.

 

All the studies also agree that people who set goals achieve far greater levels of success than those that don’t.   Despite this finding, a recent study by Statistic Brain revealed that 17% of Americans infrequently set goals and 38% never do.    Hard to believe…

 

To top things off, even when including those people that set goals frequently, only 8% of the combined group follows through to achieve them.   In other words, 92% of people who set goals fail short, with most simply bailing out and abandoning the pursuit.

 

So what can be the cause of all of this failure?

Interestingly, the majority of people lose the game before it starts.  Most people that fail to achieve their goals do so before they even leave the gate.   They actually set themselves up for failure.

 

Here’s how they do it….: 

 

1.  They set ambiguous goals:  You’ve probably heard about SMART goals.  Although different people assign different meanings to the letters S, M, A, R, and T, the main point in the goal setting process is to be crystal clear about what you intend to achieve.   This means taking all of the subjectivity out of your goal by making it quantifiable within a specific timeframe.   Nothing should be left to interpretation.   If “Success” cannot be objectively defined and measured, it is time to re-do your goal.   Include key benchmarks so you can effectively assess progress and make appropriate adjustments.

 

2.  They set too many goals:  The more goals you set, the less likely you are to achieve the ones that are most important.  This is simple math.  You only have 24 hours in a day, so in order to do something, you likely need to stop doing something else.   If you are the kind of person that sets too many goals, list them all and prioritize, then consider removing the least impactful half of them (or at least the lower third).  And if you have a chronic problem of setting too many goals, find someone that can help.  After all, the alternative is to continue to spin your wheels and miss out on achieving the goals that are most important to you.

 

3.  They make conditional commitments (or don’t commit at all):  If a goal is important to you, you must go ALL-IN.    If you will not, don’t even bother.   “I’m going to try” is simply a way to avoid responsibility, and anything less than a total commitment will almost guarantee failure.   How often have you heard “I’m going to try to cut down on drinking..” or I’m gonna try to exercise more…”.   How does that typically work?   There are two types of people — those that try, and those that commit and succeed.   If you really want something, go for it.  If not, stop BS-ing yourself.

 

4.   They attempt to go it alone:  All great performers have an accountability partner.   A trained coach can be of great service here, but if you don’t have or want a trained, skilled coach, simply find a friend or colleague that will agree to check in with you on a consistent basis.   A check-in is NOT a long meeting.  Your partner’s main job here is to help keep your focus where it belongs - on the rails and away from distractions and chasing shiny objects.  Focused energy is one of the powerful forces in the world, so you want to make sure to focus your limited time, energy and actions toward achieving the vital goals that YOU have defined.  There is no magic here.  The more frequent you check-in, the better.  Daily is great, weekly is fine.

 

5.   They keep their goals and commitments private:  If you really want to achieve a goal you’ve set, tell everyone you know about your intentions.   A trusted peer group is spectacular here, because you certainly wouldn’t want to make commitments to valued associates that you will break.   And because they trust and care about you, they can provide you with the support, encouragement, insight, tough love, and perhaps some additional resources and short-cuts to help you exceed your goals.

But don’t stop there.  Tell everyone.   The more, the better.   Make your goals public!  After all, you’ve invested time and energy to determine the goals that are most important to you.   So it makes sense to do everything possible to ensure you achieve them.   Announce your new goals on Facebook, Instagram, Twitter, and more.   Social Contracts are a HUGE motivator.   Doing so will help you focus, which will dramatically increase your chance of success.   Use your peers to your advantage, and encourage them to use you as well.

 

 

By taking these simple steps, you will increase your chances of success by orders of magnitude.   By avoiding these five pervasive mistakes, you will remove more than 95% of the issues that contribute to missing a goal.   If you’ve been missing your goals by making any of these popular mistakes, I hope you will now enjoy setting yourself up for big wins and hope you will share your success stories.

 

 

Copyright ©   Joe Zente  2019.   All Rights Reserved.

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