People’s decision can change in a heart beat. Especially in Sales, time can be your worst enemy when you’re the frontrunner in a deal (i.e. you’re currently the preferred vendor and haven’t received a signed commitment yet). With more time, customers may second guess their decision and competitors will try to find ways to win them over. All the time you spent and goodwill you built may mean less as time passes by. 

  I was in a Sales meeting with a client who was looking to upgrade their existing system. We had received a verbal commitment from one of the partners some time back. We thought the meeting would be somewhat routine as we’d give a final presentation to summarize the details and agree on the terms and installation date. As the post title reads “Time is Your Enemy in Sales”, the customer eventually shared that they are now leaning towards a competitor. Our jaws almost dropped to the floor!

  There are actually many more lessons in this one example, but to summarize this post, many cases will prove that time is your enemy. It’s just a fact and you just have to be aware of it. So, when a potential customer hasn’t gotten back to you in a while or is a little bit harder to get a hold of, don’t be suprised if the dynmanics of the deal may have changed.

  One of my goals for the year is to create and track several Marketing campaigns to give prospective and existing FEC (Family Entertainment Center) owners more information to help them make the best software purchasing decision (Yes, this even means recommending a competitor’s product). Especially in this economy, even purchasing a single POS station can make FEC owners think twice before reaching into their pockets.

  With several software vendors out there, it is difficult for customers to find and pick the right solution. More than ever, vendors have to be more conscientious about their customers’ needs and prove to them (i.e. educate them) how their product(s) will improve their bottom line. And, I’m not just talking about more advertising, which does help to a certain degree, but talking about the entire process that makes it easy for customers to get to know you, like you, and trust you. I will share my results throughout the year and look forward to comparing notes with others.

 In my role as a salesperson, one of my main responsibilities is to make as many “effective” phone calls as possible (at least 20 per day) and build up my pipeline of potential customers. Having started a software and real estate business, I understood how important it was to make a sale (i.e. if you don’t sell, you don’t make money and pay the bills… plain and simple). But, it just never dawned on me how serious I needed to focus on Sales until I became a full-time salesperson. My income (but, more importantly, others’ income) depended on how many deals I brought in and closed. Sales is a numbers games (and an art form), and I would rank Sales up there with Marketing as two of the most important functions in any business. You need to be able to generate leads and convert leads. Definitely, more to come on these two topics (i.e. Sales and Marketing)… stay tuned.

  I just finished watching the Super Bowl. Congratulations to the New Orleans Saints! I haven’t kept up with the odds, but I’d imagine that the Colts were still favored to win the game by a decent margin. The Colts with Peyton Manning had won the big game before and were more experienced and focused. But, like any other game or business, it all comes down to “Execution”. You can talk a good game, plan a good game/strategy, but if you don’t “Execute”, then all the talking and planning don’t matter. With my real estate business, I’m confident that we were successful in acquiring rental properties because we executed on a good Sales and Marketing plan (i.e. doing the research, making the calls to banks, sending out flyers, and knocking on doors to talk to homeowners daily).

 I actually started posting at my free WordPress account, http://davidthanairongroj.wordpress.com/, a few weeks ago thinking that I would practice a few things there before posting here. But, after some thought, I don’t think it will make any difference where I start blogging. I’ve just realized that I needed to start following my plan, but, more importantly, just start writing!

  For those who haven’t been to one of my marketing seminars or know me, I’m an entrepreneur and have always loved working with small businesses. I started two moderately successful companies (software and real estate). I say “moderately” because given the opportunity cost, I halted the operations of both companies. I recently accepted an offer to work directly for the President of a FEC (Family Entertainment Center) software company to help grow his Sales & Marketing department. It’s an exciting opportunity and my goal is to share my experiences and related stories to help small businesses in their Sales & Marketing efforts.