The Power of Selling, 2010a

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Procurement or product development department. Whether you are selling a product or a service, you will want to know those who make the decisions about exactly what will be available for sale. Customers may have specific questions about the performance of the product or service that you may need some additional information to answer. In addition, building a relationship with people in this department will help give you insight into what will be available in the future. More important, it will help you provide input and feedback based on the customer’s perspective. Marketing department. The people who are responsible for getting the word out about your company’s brand are important to know. You can get insights about advertising, promotions, and other communication activities. You can also get important information about future plans and help shape the marketing plan for the future based on your experience with customers. Information technology department. Everything from your laptop to your reports is supported in the IT department. It’s especially important to get to know the people who man the help desk. Chances are, you will have a technology emergency at some point in time so it’s best to build a strong relationship from the start. Other salespeople. Create relationships with the best-performing salespeople so you can learn the best practices. Go on ride-alongs and learn what makes them successful. Other resources. Explore the CRM system and company intranet, especially the online communities. This is an excellent way to learn about how sales were won, see examples of successful proposals, and learn about best practices of the top performers. Power Selling: Lessons in Selling from Successful Brands School of Hard Rocks Imagine going to employee orientation and getting the employee handbook that looks more like a comic book than a manual. That’s how Hard Rock Café on boards its mostly millennial sales force of wait staff and other support roles during its one-day orientation. Jim Knight, senior director of training and development, completely revamped the company’s School of Hard Rocks corporate university. Knight used comic books as his inspiration and got employees involved in telling the Hard Rock Café story; all the illustrations and photos in the handbook were done by Hard Rock employees. The results are impressive: employee turnover rate is now fifty-five points lower than that of the industry. Saylor URL: http://www.saylor.org/books Saylor.org 583
Besides using company resources, it’s also important for you to stay on top of changes in technology, not only to be effective but also to redefine practices. In fact, Helen Hast, a professor at the Harvard Graduate School of Business, has identified managing technological change as of the five core competencies for the twenty-first century. According to a recent article on BNET, she said, “When we have a new tool, we first use it for what we are already doing, just doing it a bit better. But gradually, the new tool changes the way we do things.” [6] While resources are important for you to be effective in sales, it’s resourcefulness that will make you successful. [7] Think about it: Evan Williams, Biz Stone, and Jack Dorsey figured out a way to make Twitter—the microblogging site they founded in March 2006—one of the most popular Web sites in the world without the use of traditional advertising to spread the word. [8] It would be hard to argue that Williams, Stone, and Dorsey had all the resources they needed to launch this hugely successful Web site; they had no money for advertising, or anything else for that matter. But they were resourceful about getting people to try their new service, use it, and engage with it. While you might not invent the next Twitter, you can certainly sell the next big idea by using your resources and being resourceful. Managing Your Time: Organizing and Prioritizing Depending on the type of business you are in and the company you work for, you might have as few as one customer and as many as a hundred or more. You might be wondering how you determine which customers to call on each day, how much time should be spent on prospecting versus calling on existing customers, how much time should be devoted to nonselling activities such as travel, paperwork, and internal meetings. While there is no hard-and-fast answer to these questions, your goal should be to spend as much time as possible with customers or prospects. It’s impossible to sell if you are not in front of a customer. Consider this: Salespeople spend approximately fourteen hours a week engaged in face-to-face selling. That means that 70 percent of the time, in an average forty-six-hour workweek, salespeople are doing something other than face-to-face selling. [9] See Figure 14.3 "Activities of Salespeople in an Average Workweek" for a complete breakdown of activities. Saylor URL: http://www.saylor.org/books Saylor.org 584
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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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Step 3: Write Your Cover Letter Wit
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Saylor URL: http://www.saylor.org/b
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KEY TAKEAWAYS Your résumé and co
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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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Page 538 and 539: 14. [7] Felice Philip Verrecchia,
Page 540 and 541: This is another opportunity to refe
Page 542 and 543: Mention something specific that you
Page 544 and 545: Do proof your thank-you e-mail or n
Page 546 and 547: Thank-you notes are a reflection of
Page 548 and 549: You understand how to use a follow-
Page 550 and 551: 3. A prospect may object at any tim
Page 552 and 553: salesperson who continues to follow
Page 554 and 555: Relationship selling doesn’t work
Page 556 and 557: http://www.bestsampleletters.com/sa
Page 558 and 559: Web site so unique is that you can
Page 560 and 561: a negative impact on the company’
Page 562 and 563: 6. Imagine that you are a sales rep
Page 564 and 565: 28. [22] Tamara Monosoff, “Focus
Page 566 and 567: asking customers what they think ca
Page 568 and 569: (scores of 7 to 8), reflect poorly
Page 570 and 571: 14. [8] Rob Markey, Fred Reichheld,
Page 572 and 573: Plan your route. Even though you pr
Page 574 and 575: 1. Assume you just accepted a job o
Page 576 and 577: You can identify ways to add value
Page 578 and 579: 2. Identify someone who already wor
Page 580 and 581: unstructured, and sometimes unpredi
Page 582 and 583: his insights to help you be success
Page 586 and 587: Figure 14.3 Activities of Salespeop
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Page 590 and 591: Being successful in sales doesn’t
Page 592 and 593: one of the components of the compen
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Page 596 and 597: some performance KPIs and conversio
Page 598 and 599: KPI Name Calculation KPI Goal Avera
Page 600 and 601: Activity Color (Red, Yellow, Green)
Page 602 and 603: Activity Comments Time to complete
Page 604 and 605: [10] Data from Gerald L. Manning, B
Page 606 and 607: [32] Jim Kahrs, “Sales Compensati
Page 608 and 609: passion and desire he played with,
Page 610 and 611: It may seem counterintuitive, but t
Page 612 and 613: It’s virtually impossible to be s
Page 614 and 615: 3. Assume you are a designer and yo
Page 616 and 617: 2005,http://kansascity.bizjournals.
Page 618 and 619: find the right internship to help y
Page 620 and 621: Your campus career center and facul
Page 622 and 623: eight hours for every twenty-four-h
Page 624 and 625: Professional Organization Informati
Page 626 and 627: 8. [5] Kim Richmond, Brand You, 3rd
Page 628 and 629: 7. Is it possible for an employer t
Page 630 and 631: sites and review the mission, event
Page 632 and 633: 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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