The Power of Selling, 2010a

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garage in 1976. Jobs said, “I was lucky—I found out what I wanted to do early in life.” [1] But life at Apple wasn’t always so perfect. When he was thirty, just one year after the launch of the Macintosh, he was fired from the company he founded. Although he was publicly humiliated and frustrated and didn’t know what to do next, he realized that he indeed loved what he did. From there he went on to start Pixar, the company that created Toy Story, the world’s first full-length computer-animated feature film. He left the Stanford graduates with some personal words of wisdom to think about as they prepared themselves for their careers: “Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it.” [2] To be successful in sales, and in life, you must love what you do. If you aren’t passionate about your profession, you will never be the best. You will always fall short because the people who love it will naturally excel. It seems simple enough: do what you love. But what if you love many things or don’t know if you’ve found your niche? Don’t worry—there are questions you can ask yourself to help you determine whether a career in sales will excite you and make you want to leap out of bed every morning. Are You Born to Sell? How do you know if sales is your passion, the career of your dreams? The first step is taking this course. You’ll have an opportunity to learn about sales and actually put your knowledge to work in real-life situations by role-playing with your classmates. After reading this chapter, you will better understand the profession of selling and what it has to offer. This chapter includes insights about which personal characteristics and talents are best suited to sales, which industries you might work in, and how you can be successful in the profession. Just like being a teacher requires traits such as a love of learning, an ability to communicate, and the talent to make concepts come alive for people, selling calls for certain personal characteristics as well. Saylor URL: http://www.saylor.org/books Saylor.org 39
Some people think that successful salespeople are those who have the “gift of gab,” but that’s not really what makes salespeople effective. Although communication and relationship building are valuable skills, just being able to talk to people is not enough to be successful in sales. Consider the following points that make a salesperson successful and see if these are a good match to you and your skills. Character and the Ability to Build Trust It never goes without saying that character—the combination of your beliefs, tendencies, and actions that you take—is the single defining trait for a salesperson (or any business person, for that matter). [3] Your character defines how you will conduct yourself, and it is the yardstick by which customers measure you. After all, your customers are spending their money based on what you say you will deliver; they have to trust you. If you ever break the trust for any reason, you will likely lose not only the sale, but you will most likely lose your reputation, and, ultimately, your livelihood. According to a survey by Forrester Research, trust and believability are so important in the buying and selling processes that 71 percent of buyers based their decisions on these traits. [4] The Ability to Connect The most successful salespeople know how to engage their customers in a way that helps the customers identify for themselves the way the product or service offered can deliver value. The Xerox Company, after conducting a survey to identify the characteristics of their peak-performing salespeople, says it best: “Your prospect will never buy because you present a pitch. She instead buys from what she convinces herself of. This means that if you are selling a watch, telling your prospect you will cure his ignorance of time will not be enough. Your prospect will literally talk to himself to discover that this watch will indeed keep him from running late. He will not listen to you; he will only listen to himself.” [5] A good salesperson will use his personal skills to connect with a customer, so that their conversation prompts and echoes the customer’s own internal thought process. It is ultimately this ability to connect that allows the salesperson to build relationships and trust. Listening Skills Saylor URL: http://www.saylor.org/books Saylor.org 40
Page 2 and 3: This text was adapted by The Saylor
Page 4 and 5: helping you learn and succeed. In f
Page 6 and 7: Sales professionals (left to right)
Page 8 and 9: Andrew Sykes, Pharmaceutical Sales
Page 10 and 11: Chapter 1 The Power to Get What You
Page 12 and 13: Pearson-Bernard, the president and
Page 14 and 15: Mac and fries, and you always know
Page 16 and 17: Personal selling is a powerful part
Page 18 and 19: But the bigger story is the fact th
Page 20 and 21: understand the power of collaborati
Page 22 and 23: departments, according to Dennis J.
Page 24 and 25: At times, however, sales and market
Page 26 and 27: 6. [4] Bureau of Economic Analysis,
Page 28 and 29: Chapter 6 "Why and How People Buy:
Page 30 and 31: Resource Description information. J
Page 32 and 33: Choosing a career direction and wri
Page 34 and 35: managed your costs and time. Every
Page 36 and 37: Now that you have read this chapter
Page 38 and 39: 2. Write your personal mission stat
Page 42 and 43: Contrary to popular belief, speakin
Page 44 and 45: evealed that boomers are more likel
Page 46 and 47: many can put it all together.” [2
Page 48 and 49: phone?” No techno-talk, no slick
Page 50 and 51: A good salesperson does more than s
Page 52 and 53: 18. [13] Margaret Norton, “Is the
Page 54 and 55: Toshiba to manufacture laptop compu
Page 56 and 57: Types of B2B and B2C Selling When y
Page 58 and 59: outside salesperson. Inside salespe
Page 60 and 61: Title Description Industries manage
Page 62 and 63: Selling Power Magazine “50 Best C
Page 64 and 65: You’ve now seen how B2B, B2C, and
Page 66 and 67: want to focus on making a contribut
Page 68 and 69: 14. [7] Justin Sorkin, “AT&T Urgi
Page 70 and 71: lasting impression. If you think yo
Page 72 and 73: Figure 2.8 Standard Résumé Incorp
Page 74 and 75: Now, it’s time to put your brand
Page 76 and 77: Step 4: Write Your Bullet Points On
Page 78 and 79: Consider the difference between the
Page 80 and 81: 1. First paragraph. Introduction an
Page 82 and 83: Step 3: Write Your Cover Letter Wit
Page 84 and 85: Saylor URL: http://www.saylor.org/b
Page 86 and 87: KEY TAKEAWAYS Your résumé and co
Page 88 and 89: Now it’s time to put what you’v
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The Power of Building Relationships
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ather than what you want to sell he
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single man could and should be nurt
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For example, many companies offer l
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Trust Me “The check is in the mai
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No one likes to deliver bad news. B
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according to Tim Conner, sales trai
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irthday celebration went, or even j
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A solid relationship is essential,
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29. [24] Tom Reilly, “Relationshi
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than your friends? Do you speak to
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opinions in their decision making.
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Expressives are creative and can se
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thanks.” It’s important to note
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16. [13] Barton A. Weitz, Stephen B
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providing an excellent method to ne
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Jon: Have you talked to anyone at U
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down an otherwise promising job can
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Search the social networking job bo
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7. [3] Meredith Levinson, “How to
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Role: Pharmaceutical sales manager
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7. Be professional; focus on facts
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eliefs and moral conduct. [6] Your
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marketing at the University of Notr
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Ethical Dilemmas in Business Not al
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just like personal ethics, mean doi
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attached. You might miss the opport
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Religion Values provide your person
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You learned about creating your per
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These ten things are the principles
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Ludwig, author ofPower Selling, exp
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At some point in your selling caree
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o o Simon Cowell Angelina Jolie 4.
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21. [19] Julie Creswell and Landon
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44. [42] FedEx, “Company Informat
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Conduct, for example, explains when
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Family interests create a conflict
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documents related to that fact, led
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come face-to-face with these differ
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9. [3] Starbucks, Business Ethics a
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Selling Yourself versus Stretching
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You: Well, I’ve been trying to ge
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Figure 4.4Sample References Letters
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Now that you have read this chapter
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2. What influences your values? Mak
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has often been referred to as a sof
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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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