
I read a lot of books regarding the subject of sales. Sales and revenue are the life blood of any business. Hence every entrepreneur needs to equip him/her self with the necessary skill sets to sell, because in the final analysis their livelihood depends on their ability to convert prospects into paying customers. I had heard good things about Brett Clay’s new book on Selling Change and thoroughly enjoyed reading it. It does not read like a standard book, as the author discloses 101 secrets to effectively improve sales by leading change. The book is divided into five components that build a framework the author refers to as, “Change Leadership Framework”. The five components are:
1. Force Field Analysis
2. Change Response Analysis
3. Power Analysis
4. Value Creation
5. Change Actuation
This is not your run of the mill sales book that focuses on traditional sales processes and how to convert prospects in your pipeline faster. The book focuses on high value solution sales strategies. Solution selling is a very different ball game as compared to transactional selling. Most of the time, selling high value solutions requires a considerable amount of change to take place within the organization. The book takes you through a five stage process that enables you to make your case stronger and equips you with the skills needed to close such deals. It is full of valuable tips, tips which had I read earlier in my career as an entrepreneur, would have saved me a lot of pain. Some of my favorite tips are:
1. Not falling into the trap of owning your customer’s problems: I have done this many times in the past. The customer has a pain and as a company we take ownership, and strive to remove this pain for the client. Once we take ownership of the problem the client essentially wipes his hands of it, and any problems that arise from there on will be directly pointed at you. We need to ensure that the customer retains ownership of the problem, and strive to play a support role to help them through that problem.
2. Double your best estimates: Another common problem with early stage startups is, they usually end up selling themselves short. In most high value solution selling situations, research confirms that actual resource requirements are on an average 1.7 times the original estimate. Thus, you need to take these factors into account when deciding how much you are going to quote, and the resources it will require to complete the job.
3. Don’t Beg – Deliver: When sales have been dry we do our best, sometimes desperately so, to close any deal regardless of what it may entail, or what sort of resources required to complete it. This is when things go from bad to worse very quickly. The author mentions that instead of using “push” tactics and thinking how to accelerate order, we will get better results by using “pull” tactics and thinking how we can deliver more value. That is a very powerful thought, one which is being heavily publicized in the world of inbound marketing these days.
This is a great book to read for anyone who wants to get into high level consulting as well as selling complex solutions. For entrepreneurs or readers who are just starting their careers in sales, this book may jump the gun a little as there are still lots of fundamental grounds rules that need to be put into place to build a strong foundation of becoming a sales rockstar. Notwithstanding that, this is a great book to add to your shelf and refer to when you are ready and wanting to break into the big times!
I agree totally with Doubling the Estimates. Often Startups are intimidated when it comes to raising a round first up and end up demanding funds that are end to end. The result of this is they are more often out of cash.
In my opinion, each investor calculates that the funds asked for already are more than the minimum expenses the startup will bear. So when you run short, you lose credibility. The best way therefore is to demand for a bit higher round.
I agree with your analysis of raising a larger round upfront in context to doubling your projected expenses. There are many hidden costs that pop up regardless of how detailed the initial feasibility may have been.
I guess it is about all about both being realistic as well as thinking a couple of steps ahead. One has to take into account the bigger picture when making such decisions.
Thanks for the comment Mokhim. Look forward to hearing from you more regularly.
Usman, we must be birds of a feather, because you obviously “get it!”
For example:
1) “Most of the time, selling high value solutions requires a considerable amount of change to take place within the organization.”
2) “This is not your run of the mill sales book that focuses on traditional sales processes and how to convert prospects in your pipeline faster.”
3) “This is a great book to read for anyone who wants to get into high level consulting as well as selling complex solutions.”
I must admit I’m a little conflicted. Even though the book is intended for high-level consulting and selling complex solutions, I really believe that people can also apply these principles in their daily lives to be more successful and more happy. …I guess that means I need to get started on my next book!
By the way, I too really wish I, along with the VC’s and CEO’s I’ve worked for, had learned these lessons through coaching, rather than experience. It certainly would’ve saved us all a lot of time and money!
Brett, another book on creating and optimizing sales funnels for startups and sme’s would be something that I would very much like to hear your thoughts on. This is one of the area’s where I have not found a lot of good content.
Thank you for taking out the time to personally reply to my review. I look forward to reading your next book soon!