The Power of Selling, 2010a

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7. Be professional; focus on facts and timelines that will allow your customer to see how quickly she can achieve her goal. Provide options that allow her to be in control. 8. Create a networking list, join professional organizations, use online professional social networks, publicize your profile, ask for recommendations, join groups, create content, and follow up. Chapter 4 Business Ethics: The Power of Doing the Right Thing 4.1 Business Ethics: Guiding Principles in Selling and in Life LEARNING OBJECTIVES 1. Understand ethics and what composes ethical behavior. 2. Discuss the role of values in ethics. 3. Understand how you define your personal code of ethics. Saylor URL: http://www.saylor.org/books Saylor.org 131
It seemed like a straightforward decision at the time—you could either pay ninety-nine cents per song on iTunes, or you could download for free from a peer-to-peer network or torrent service. After all, artists want people to enjoy their music, right? And besides, it’s not like Kanye West needs any more money. So you pointed your browser to ThePirateBay.org. Of course, that isn’t the whole story. The MP3s you downloaded have value—that’s why you wanted them, right? And when you take something of value without paying the price, well, that’s theft. The fact that you’re unlikely to get caught (and it isn’t impossible; people are arrested, prosecuted, and ordered to pay massive judgments for providing or downloading music illegally) may make you feel safer, but if you are caught, you could pay from $750 to $150,000 per song. [1] Other variables can further complicate the situation. If you downloaded the MP3s at work, for example, you could lose your job. Acting unethically is wrong and can have enormous practical consequences for your life and your career. What Is Ethics? Ethics is moral principles—it is a system that defines right and wrong and provides a guiding philosophy for every decision you make. The Josephson Institute of Ethics describes ethical behavior well: “Ethics is about how we meet the challenge of doing the right thing when that will cost more than we want to pay. There are two aspects to ethics: The first involves the ability to discern right from wrong, good from evil, and propriety from impropriety. The second involves the commitment to do what is right, good, and proper. Ethics entails action; it is not just a topic to mull or debate.” [2] Is it right? Is it fair? Is it equitable? Is it honest? Is it good for people? These are all questions of ethics. [3] Ethics is doing the right thing, even if it is difficult or is not to your advantage. [4] Carly Fiorina, former CEO of Hewlett-Packard, discusses the importance and impact of ethics on business. Personal Ethics: Your Behavior Defines You Ethics comes into play in the decisions you make every day. Have you ever received too much money back when you paid for something in a store, didn’t get charged for something you ordered at a restaurant, or called in sick to work when you just wanted a day off? [5] Each of these is an ethical dilemma. You make your decision about which path to take based on your personal ethics; your actions reflect your own moral Saylor URL: http://www.saylor.org/books Saylor.org 132
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This text was adapted by The Saylor
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helping you learn and succeed. In f
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Sales professionals (left to right)
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Andrew Sykes, Pharmaceutical Sales
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Chapter 1 The Power to Get What You
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Pearson-Bernard, the president and
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Mac and fries, and you always know
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Personal selling is a powerful part
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But the bigger story is the fact th
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understand the power of collaborati
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departments, according to Dennis J.
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At times, however, sales and market
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6. [4] Bureau of Economic Analysis,
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Chapter 6 "Why and How People Buy:
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Resource Description information. J
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Choosing a career direction and wri
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managed your costs and time. Every
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Now that you have read this chapter
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2. Write your personal mission stat
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garage in 1976. Jobs said, “I was
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Contrary to popular belief, speakin
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evealed that boomers are more likel
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many can put it all together.” [2
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phone?” No techno-talk, no slick
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A good salesperson does more than s
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18. [13] Margaret Norton, “Is the
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Toshiba to manufacture laptop compu
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Types of B2B and B2C Selling When y
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outside salesperson. Inside salespe
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Title Description Industries manage
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Selling Power Magazine “50 Best C
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You’ve now seen how B2B, B2C, and
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want to focus on making a contribut
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14. [7] Justin Sorkin, “AT&T Urgi
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lasting impression. If you think yo
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Figure 2.8 Standard Résumé Incorp
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Now, it’s time to put your brand
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Step 4: Write Your Bullet Points On
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Consider the difference between the
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1. First paragraph. Introduction an
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Page 84 and 85: Saylor URL: http://www.saylor.org/b
Page 86 and 87: KEY TAKEAWAYS Your résumé and co
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Page 102 and 103: according to Tim Conner, sales trai
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Page 108 and 109: 29. [24] Tom Reilly, “Relationshi
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Page 114 and 115: Expressives are creative and can se
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Page 122 and 123: Jon: Have you talked to anyone at U
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Page 126 and 127: Search the social networking job bo
Page 128 and 129: 7. [3] Meredith Levinson, “How to
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Page 148 and 149: These ten things are the principles
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Page 152 and 153: At some point in your selling caree
Page 154 and 155: o o Simon Cowell Angelina Jolie 4.
Page 156 and 157: 21. [19] Julie Creswell and Landon
Page 158 and 159: 44. [42] FedEx, “Company Informat
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Page 176 and 177: Now that you have read this chapter
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The same thing can happen in a sell
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Figure 5.3 Letter of Apology from J
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you receive the check. Specificity
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Take notes. While it may seem like
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Figure 5.4 The Impact of Intonation
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Touch Space or proximity Dress Mul
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Touch neck: insecurity Crossed legs
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extra time to review before you sen
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EXERCISES 1. Choose an advertisemen
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22. [13] Patricia M. Buhler, “Man
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and established practices aren’t
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Etiquette Tips for Conversations, M
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The purpose of a business breakfast
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Now, we’re seeing a bit of a reve
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Don’t leave a long, rambling voic
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Proper etiquette is a necessity in
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10. [4] Kim Richmond, “Poll: Entr
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31. [25] Patrick Welsh, “Txting A
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An informational interview is exact
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Informational interviews are usuall
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Bring extra copies of your résumé
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Your interviewee will most likely s
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13. [8] “Informational Interviewi
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You are meeting with a potential cu
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and is best used for communicating
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The science of consumer behavior de
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what anyone did for a living, or if
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Although recovery will be going on
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to retailers such as Foot Locker, w
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and your decisions don’t put you
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Figure 6.7 Comparison of B2C and B2
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technology will not only be expensi
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The September 2009 issue of Vanity
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An individual such as a buyer, purc
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Content,http://www.associatedconten
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The Traditional View of the Seven S
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6. Evaluating proposals. After the
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world to solve the problem. This is
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Norm Brodsky is the owner of an arc
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Traditional Seven Steps of Selling
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Figure 6.10 Nutritional Information
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Source:http://www.thedailyplate.com
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Table 6.3 FAB in Action Product Fea
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The traditional B2B buying process
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15. [10] Bryan Eisenberg, “Buying
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40. [36] Bryan Eisenberg, “Want T
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Brand Positioning Point Feature Adv
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Choose a few work samples. Select s
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A word of caution: Your professiona
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6. [2] “Job Search: Back Up Your
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You are a salesperson for an advert
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Chapter 7 Prospecting and Qualifyin
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Saylor URL: http://www.saylor.org/b
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If you’re satisfied with his resp
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happens if the customer is not inte
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and prospecting for new customers.
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16. [13] Dave Dolak, “Sales and P
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good fit. Sometimes you aren’t ac
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1. Describe the ideal customer for
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It costs five times more to attract
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If you’re a member of the America
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Forget Google for a minute. It migh
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Database or Directory Good source f
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Business journals such as the Phila
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As a salesperson, you can use trade
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isn’t a qualified prospect. For t
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egin prospecting for another lead a
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latest Google search results based
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KEY TAKEAWAYS Prospecting takes c
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21. [15] Paige Palmateer, “Inaugu
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employment agencies. This is a fair
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you might or might not find later o
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Local business journals, like the P
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Business Directories and Databases
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sites to gather stats. Publicly hel
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3. When a customer says, “It’s
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9. There are several business journ
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service in order to make a decision
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Listing your goals in writing befor
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Sporting Goods, Dick’s Sporting G
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presentation. For instance, you mig
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the company also has a communicatio
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companies or people he has worked w
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13. [7] Marcel Sim, “Leveraging Y
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play MP3s, store a day planner, sur
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for instance—can often be a surpr
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question early on in the sales call
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8. [2] Mark Anthony, “The Psychol
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According to Gary Duncan, principal
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SMART objectives give you the power
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3. Assume you are a financial advis
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order. For example, Szaky knows tha
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2. Assume you are the director of d
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tool, in combination with five othe
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on your part. If one of your target
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SMEI http://smei.associationcareern
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Internships and professional organi
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Use networking sites like LinkedIn
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You can determine SMART precall obj
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TEST YOUR POWER KNOWLEDGE ANSWERS 1
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The Approach: The Power of Connecti
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Communication Customization Collab
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taste in shoes. As long as the appr
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you will read more about the dos an
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included fifteen-second audio spots
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7. [4] Brian Johnson’s Philosophe
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9.2 How to Start Off on the Right F
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Approaching by Telephone Establishi
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uilding up your wardrobe so that yo
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prospect’s name in the heading an
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new contacts: “I thought you migh
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stop by on Tuesday morning so we ca
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in the retail environment as it is
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Customers can’t seem to stop sayi
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1. Take the listening quiz by click
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19. [12] Sharon Drew Morgan, “Thi
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43. [36] Donna Siegel, “Relations
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fewer paper jams than any other cop
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contact you. She thought your compa
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ing out several products for custom
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move straight into a question or cu
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9.4 Overcoming Barriers to Success
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to go through the gatekeeper first.
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2. Imagine that you are a sales rep
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Your elevator pitch is critical bec
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ask the person for their business c
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Power Wrap-Up Now that you have rea
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3. Use your elevator pitch in a pro
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about to connect in an exciting way
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presentations to their prospect’s
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will you have to find a parking gar
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EXERCISES 1. You are preparing for
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to take off a jacket and tie than t
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EXERCISES 1. Review the clothes tha
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A good salesperson can read group d
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keeping an eye on group dynamics du
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When the five executives arrived, W
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It is also important to resist the
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salespeople who are starting out an
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won’t get read. [30] Don’t rely
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A cost-benefit analysis asks the qu
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through but (b) establishing a conn
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2008,http://www.completeselling.com
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36. [29] Geoff William, “The Perf
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prospect you have already met.) [4]
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You: So your IT people have regular
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In smaller sales, obtaining commitm
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unstated needs: situation, problem,
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1. Learn the five steps of a succes
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that shows how outsourcing your bac
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to make sure you understand and hav
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information you are presenting and
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a call to action that asks the pros
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Timing: When to Deliver Your Propos
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The most important ingredient of a
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18. [10] Kelley Robertson, “How t
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10.6 Selling U: Selling Yourself in
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Does this company deal in B2B or B2
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important to be honest when you res
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Interviewers often ask this questio
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Step 8: Prepare Your Wardrobe Your
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A job interview is like a sales pre
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18. [15] Kim Richmond, Brand You, 3
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PUT YOUR POWER TO WORK: SELLING U A
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Chapter 11 Handling Objections: The
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What Are Objections? Objections, al
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what you can deliver and by when. I
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When Prospects Object While you may
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identifying his problem, and presen
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2. Try to sell your professor on co
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11.2 Types of Objections and How to
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Don’t say anything negative about
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When a prospect has a source object
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car has what you want. At this poin
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uild a deeper trust. [18] Just as w
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14. [7] Felice Philip Verrecchia,
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This is another opportunity to refe
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Mention something specific that you
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Do proof your thank-you e-mail or n
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Thank-you notes are a reflection of
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You understand how to use a follow-
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3. A prospect may object at any tim
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salesperson who continues to follow
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Relationship selling doesn’t work
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http://www.bestsampleletters.com/sa
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Web site so unique is that you can
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a negative impact on the company’
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6. Imagine that you are a sales rep
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28. [22] Tamara Monosoff, “Focus
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asking customers what they think ca
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(scores of 7 to 8), reflect poorly
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14. [8] Rob Markey, Fred Reichheld,
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Plan your route. Even though you pr
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1. Assume you just accepted a job o
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You can identify ways to add value
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2. Identify someone who already wor
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unstructured, and sometimes unpredi
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his insights to help you be success
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Procurement or product development
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Figure 14.3 Activities of Salespeop
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Poor planning. Avoid getting caught
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Being successful in sales doesn’t
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one of the components of the compen
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draw. This is an advance against fu
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some performance KPIs and conversio
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KPI Name Calculation KPI Goal Avera
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Activity Color (Red, Yellow, Green)
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Activity Comments Time to complete
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[10] Data from Gerald L. Manning, B
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[32] Jim Kahrs, “Sales Compensati
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passion and desire he played with,
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It may seem counterintuitive, but t
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It’s virtually impossible to be s
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3. Assume you are a designer and yo
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2005,http://kansascity.bizjournals.
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find the right internship to help y
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Your campus career center and facul
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eight hours for every twenty-four-h
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Professional Organization Informati
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8. [5] Kim Richmond, Brand You, 3rd
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7. Is it possible for an employer t
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sites and review the mission, event
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15.1 The Power of Entrepreneurship
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Approximately 75 percent of new job
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These facts reflect the importance
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Tech-savvy teenagers are starting o
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Best Social Entrepreneurs View the
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View Entrepreneur magazine’s list
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2008, http://www.america.gov/st/bus
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43. [40] Scott A. Shane, “Failure
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a business plan are standard. The f
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Private investors may want to have
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When you present your business plan
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Entrepreneur: Noah Lehmann-Haupt Ho
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Entrepreneur: Jeremy Bloom Article:
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Resource Name and Web Site Descript
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Resource Name and Web Site Descript
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You can describe the impact that en
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3. Free market system is an economy
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