June 28, 2020
We all know that times are crazy right now. There is uncertainty in business when the markets take us on a roller coaster ride. When the world seems to be mired in chaos, hold on in there and we will win this war together.
We receive a lot of phone calls from our clients looking for answers. The most frequent question they ask is, What are businesses doing right now? They are looking for peace of mind and insight into what they should be doing to not only survive, but to thrive during these uncertain times.
Because we consult, support, and more importantly keep in contact with our clients of all sizes, across most industries, we have a unique window into the best practices that enable top companies.
For me, sales is a fundamental part of any business at any time. Let’s be honest, life is just one big sales pitch, whether you are dating, selling house, car, bike, job interviews even looking at two different products that do the same thing you are selling.
Here are four of those best practices that I believe will ride out this storm:
Focus on fundamentals:
The basics always win. High performing sales professionals have mastered sales skills in prospecting, time management, account development, and negotiation. Because they have dedicated themselves to practicing the fundamentals, they can weather any storm and grow in difficult environments. When salespeople and companies panic, they take their eyes off of the fundamentals and let hysteria take control. In doing so, they make mistakes and take short cuts that always comes back to bite them.
Companies, and their leaders, in particular, turn up the heat in turbulent times:
Instead of pulling back and playing defence, leading companies are putting the pedal to the metal and challenging their businesses to grow. They are energizing their teams to stay focused, get on the phones, and build strong, “recession” proof pipelines.
Place a stronger emphasis on delivering outcomes:
Because there could be a tightening in the market, most average companies will try to compete at the transactional level. They throw a bunch of stuff against the wall in the hope that something sticks. Leading businesses are focusing on solving problems and delivering measurable business outcomes. This allows them to rise above the noise, protect margins, and take market share.
Leverage their strengths and address their weaknesses:
Top businesses turn what they do well into rocket fuel and focus on getting even better. At the same time, they look at what they don’t do so well, and instead of ignoring it, they do something about it. What you don’t do is hide, stay put, or wait things out. Leading businesses take action.