Chasing Down the Big Spenders

A few years ago, when I met my British girlfriend, she turned me on to the biggest sport outside of North America — soccer (or football, if you don’t happen to live on my end of the Atlantic). And so, along with most of the rest of the world, I watched with a mixture of horror and fascination as the Spanish super club Real Madrid forked out nearly $250 million for the services of two top players.

Now, that’s a staggering amount of money in any language or currency. But it’s all the more so if you consider the current state of the economy around the world, and in Spain in particular. It seems implausible that any company, especially soccer team, would have that kind of cash to throw around. So what gives?

It all comes down to timing and perception. Real Madrid, traditionally a leader in their “industry,” which in this case happens to be a soccer league, needed to change their long-term outlook and saw an opportunity. So, sensing an opening, they got creative with their financing and decided to make a move.

The point I want to make today is this: a Spanish team may have grabbed front-page sports headlines, but what they’re doing isn’t all that unique. In every corner of the globe, and in just about every industry, there are people out there taking chances and forging ahead with their businesses. While lots of people and organizations are stuck in the recession mindset, there some that aren’t fazed. Your success as a salesperson is dependent on your ability to tune out a lot of what you’re hearing around you, and then go find prospects and customers who are doing the same.

When this recession ends, it’s going to be people who took the initiative that are going to come out ahead on the other side. I’m not saying that every gamble is going to work out and that every company should just go out spending like there’s no tomorrow; only that it’s up to you to find those people and groups that are still looking for a way forward and help them find the path.

Playing the Waiting Game

An interesting side effect of this recession is that a lot of businesses aren’t necessarily telling salespeople they won’t buy, they’re just putting their purchases off until some unspecified time in the future. In other words, they’re telling us “we love your product and see what it can do for us, but it’s going to have to wait until later…” Of course, no one can actually tell you when later is going to be.
Presumably, these decision-makers are holding off new investments until the economic storm passes. But, as I’ve already mentioned several times on this blog, nobody really knows how long this recession is going to last. So, the best thing to do isn’t to wait the recession out — it’s to sell something that will help your clients make it through the other side.

You see, it isn’t that most businesses and families don’t have any money to spend right now; it’s that they don’t want to spend it on the things they were buying a year ago. A recession is no time (for most households and organizations, anyway) to make a big investment geared towards the future. Instead, they’re worried about finding ways to keep what they have now. Show them that you understand their needs, and are working on their side, by presenting them with solutions that are more defensive in nature.

Remember, playing the waiting game doesn’t do you any good. But more than that, it’s not helpful to your clients and customers, either. The people you serve still need products and services to keep their lives and careers running. The only difference is, they don’t need the same ones as they did before. So, sell what you can sell a recession, and show your clients that you can give them the answers they need. You might even make a little bit of money, you’ll probably strengthen your customer relationships, and you’ll definitely feel better than you would if you just sat around waiting for things to change.

Working for Free?

British Airways set a new benchmark low for money-saving recession tactics today when it asked several thousand of its employees to take a month of unpaid leave — or just keep working for free:

http://www.cnn.com/2009/WORLD/europe/06/16/british.airways.work.free/index.html

Having spent a few weeks here and there across the pond myself, I’m having a hard time envisioning the British (or anyone else in the free world for that matter) choosing to show up without the promise of a paycheck. I’m a firm believer that everyone should love their job, but this really seems like a bit of a stretch.

The point of today’s post isn’t to slam BA’s poor management move, however. When I saw the headline, the first thing I actually thought of was the great number of salespeople that there are out there right now who are working for free, or something close to it. Being in charge of selling things and finding new business, salespeople are on the frontline of a recession. They’re the first to face the firing squad. And I know that in a lot of industries, especially those where the average sale runs into the tens or hundreds of thousands, there are a lot of men and women who are hurting pretty badly.

If you fall into that category, my advice to you is this: don’t work for free. There are few things as demoralizing as showing up day after day and not earning any money. I should know; I’ve definitely been there. Instead of bemoaning your lack of sales, and watching your savings account trickle down the drain, concentrate on what you can do today.

In almost every sales job on the planet there is some kind of small sale that you can make without an enormous effort. As an example, I once had a job selling furniture. In an economic climate like this one, not a lot of people are looking at investing in a new sofa. Many of them, though, could be persuaded to spend a few dollars on a cleaner or sealant that will help them get more mileage out of the couch they’ve already bought. Most of the world is focused right now on finding ways to save money and put off purchases, so why not keep your paychecks coming in by helping them find a way to do it?

Granted, this kind of strategy probably isn’t going to make you wealthy overnight. But then again, it does pay something, and it gives you the chance to keep adding to your client list while things are slow. The same people and companies that place small orders with you today might be in a much better position a few months or a year down the road, so go ahead and get your foot in the door now.

And if those reasons aren’t enough to keep you going with small sales, think about things this way: making sales is contagious. The longer you go without one, the worst you’re going to fail. Even a small sale, one that brings in just a few dollars, can make all the difference and put you in a better mood. So go see what you can find, and see if putting some money in your pocket doesn’t change the way you feel about this economy. Nobody wants to work for free, and luckily for us, no salesperson has to.:

The Summer Slowdown

In most of the businesses I have ever worked in, the summer was kind of a slow time. I suspect it’s like that for most industries, at least in the United States. As the temperatures rise, many of our minds (not to mention those of our customers) start to drift. The big plans and initiatives we had at New Year’s have either worked out or gone away, and many of our prospects won’t be thinking about buying anything too significant until the fall comes.

Does that mean you can’t make sales over the summer? Of course not. Readers of my book will know that I believe any time is a great time to be looking for new customers. Still, though, if you feel like there aren’t any blockbuster deals coming your way for the next month or two, then why not take advantage?

The summer lull — just like a recession — can offer a great opportunity for a little bit of rest and reflection. Maybe things haven’t been as great as they could have, and you’re a bit leery about taking a long summer vacation. Instead of springing for a huge getaway, why not use a few weeks to get away from home (maybe to see a relative or friend) and take some reading material with you?

Most adults, reading for a couple of hours a day, can easily finish two or three books a week. A quick trip to your local bookstore can give you ideas for dozens of sales books (like mine) that can help you attack your sales career with a new passion and energy. Pick a couple of them up, set aside a few open weeks, and get to work on your selling skills.

The summer, just like the recession, won’t last forever. If you’re having a hard time making sales in either one, why not use the time to become a stronger producer Sue you can hit the ground running when customers are buying again?

A Slow Economic Recovery, or None at All?

Ben Bernanke, our economist in chief, went on the record again today saying that he expects things to look up in the second half of 2009, albeit slowly. At the same time, many in the media are quick to point out that the actual heart economic numbers aren’t telling us specifically uplifting story:

http://money.cnn.com/2009/06/03/news/economy/bernanke_housebudget_testimony/index.htm?postversion=2009060314

As an armchair economist and professional salesperson, there’s not a whole lot that I can add to that analysis. For all the talk about things getting better, there doesn’t seem to be a time of optimism floating around Main Street in board rooms in this country — and indeed, throughout most of the world.

With that in mind, I urge you all to do what I’ve been recommending all along: keep selling through this recession, use the strategies in the book to put your competitors out of business, keep your ear to the ground. Things are going to look up sooner or later, but your time is much better spent making money than it is worrying about things that are beyond your control.