Walter Brown is one of the top sales authors you never heard of. You won't find him on Twitter, Facebook, or YouTube. He has a simple website that promotes his only book, Chasing Quota.
Chasing Quota is one of the best sales books I have ever read. It is clear, precise, and simply genius. Walter recently posted an updated version of his book in a .pdf version I uploaded here: Chasing Quota 2. Read it. It's only 25 pages.
Here are a few of my favorite lines from the book:
WHO SHOULD BE IN SALES: Maybe you, if you:
Love to win
Hate to lose
Like money a lot
Like people, and vice versa
Believe strongly in your product and service
Truly help prospects find solutions
Can persuade
Can tolerate income risk
Can tolerate rejection
Sales Success Can Be Summarized in Eight Words:
BUILD A GOOD PROSPECT PIPELINE, THEN HARVEST THAT PIPELINE
Every Prospect's Three Basic Questions Are:
WHY DO IT? WHY NOW? WHY WITH YOU?
Keep it simple - sell to those questions
Problems are normal:
SO DON'T WASTE ENERGY ON WHY THE PROBLEM CROSSED YOUR PATH. INVEST THAT ENERGY IN SOLVING IT.
I first heard of Twitter from my dad (give him a follow @phenzbiz) a few years ago. He mentioned how this micro-blogging site was the next big thing. I was hesitant and skeptical, as I assume most people are before they join, but it is an awesome tool. If you're not using Twitter, here is a great summary on why you should "Why Twitter? 10 Great Uses for Twitter".
I started using the 'Favorites' feature to bookmark my top articles articles and tweets. As the 2010 comes to a close, I thought it would be cool to summarize my favorites for you: Top Articles:
Love the quote at the top of this post: Cause hustlers hit the block when police change shifts
New York, California different toilet, same s#@t
—The Game, Let Us Live
After living in Silicon Valley for a couple years, I am really surprised how difficult it has been to cut through the hype around the "hot start-ups", the "next big thing in technology", the "who's who of top Executives", and the fast-growing companies backed the "top venture capital firm" in the Valley.
You have to be careful on how you analyze an organization and remember that the grass is not always greener. It took me a while to uncover, in my opinion, the #1 Venture Capital Firm in Silicon Valley, Sequoia Capital. Their resume of successful companies is beyond impressive. They have been able to create and repeat a formula to identify and grow companies.
According to CrunchBase, "Sequoia has funded an unprecedented number of enormously successful companies including Google, Yahoo, Paypal, Electronic Arts, NVIDIA, Cisco Systems, Oracle, Apple, YouTube, Admob and Zappos. Sequoia estimates that 14% of the NASDAQ’s value is made up of firms they have funded."
Sequoia Capital was founded in 1972 by Don Valentine. Don was an original investor in all the companies listed above among the others listed here. I would love to sit down with him and learn (if any of my readers can make it happen, please let me know).
What strikes me most impressive about Sequoia (besides their track record) is a simple page on their website that breaks down what makes a sustainable company. Here it is:
Start-ups with these characteristics have the best chance of becoming enduring companies. We like to partner with start-ups that have:
Clarity of Purpose
Summarize the company's business on the back of a business card.
Large Markets
Address existing markets poised for rapid growth or change. A market on the path to a $1B potential allows for error and time for real margins to develop.
Rich Customers
Target customers who will move fast and pay a premium for a unique offering.
Focus
Customers will only buy a simple product with a singular value proposition.
Pain Killers
Pick the one thing that is of burning importance to the customer then delight them with a compelling solution.
Think Differently
Constantly challenge conventional wisdom. Take the contrarian route. Create novel solutions. Outwit the competition.
Team DNA
A company’s DNA is set in the first 90 days. All team members are the smartest or most clever in their domain. "A" level founders attract an "A" level team.
Agility
Stealth and speed will usually help beat-out large companies.
Frugality
Focus spending on what's critical. Spend only on the priorities and maximize profitability.
Inferno
Start with only a little money. It forces discipline and focus. A huge market with customers yearning for a product developed by great engineers requires very little firepower.
There it is; plain and simple. Before you believe the hype of a company, I would encourage you to evaluate the sustainability of an organization based on their criteria. If you want to partner with them, they offer an email to send your ideas and business plans - start@sequoiacap.com. Good luck!
"I noticed on your resume you have experience in a bunch of different fields, you ran your own business, been in real estate, product marketing, and have spent time in sales. What makes you want to go into this position we have open?”
"To be honest, I am flexible. If you have a position in a different area like Finance, Marketing, Sales Operations, or Customer Service, I would be interested in that too."
STOP RIGHT THERE.
Guess what... your future employer doesn't care.
When a company has an open position (especially in sales), they are looking for the best candidate for that role. Many of the interview questions are generally focused around figuring out if this is the position you really want, you will be happy with, and will stick with it when things don’t go exactly according to plan. If you can't convey the focus in your job search, you will have a long road ahead of you.
It is perfectly OK and normal to want to do other things. You should have confidence in your ability, be incredibly optimistic, and dream big. However, if you want this position, you need to convey that this is the job you want and you want it now. Focus.
A typical interview question that usually makes people feel uneasy is, “where do you see yourself in 3-5 years?” You are probably thinking I want to get my MBA, start my own business, take the job of the person interviewing you, or maybe even if I’m still working here I will be absolutely miserable.
The decision maker and stakeholders in an interview process have social, political, personal, and career liability on the decision of hiring you. If you leave the company, that affects them. How are you going to mitigate their concern?
The best answer is to frame your response in their terms. The employer is looking for confidence that you want this position and see potential to grow organically with the company.
I’m not telling you to lie in an interview, just to be more prepared and focused then your competition (understand you aren’t the only candidate interviewing either). The last thing you want is to leave an interviewer with any uncertainty that you really want this job.
Two quick tips…
Never go on a job interview you don’t plan to nail
If you think the open position is a stretch for you; imagine what the interviewer is thinking before you walk into the room (I hope you are prepared to prove them wrong)
A great book to help you with preparation and focus is Me 2.0: Build a Powerful Brand to Achieve Career Success. This book outlines how to build a career and personal brand; which is a large part of building focus in your job search.
The term "cold calling" in itself is annoying. It is even worse that the only way sales trainers can adjust this is by taking the term 'cold' and making it 'warm' or 'hot'.
I pulled an even lamer move on my end and looked up the definition of "cold". The first definition that popped up was: having or being a temperature that is uncomfortably low for humans.
If there is any substance behind the term "cold calling" it is the word uncomfortable. That is exactly what it is. You are interrupting someones day, you are nervous, you don't want them to pick up the phone to begin with, and, on top of that, you have no idea what to say. That is why people don't like to call other people.
The other jab at "cold calling" is that is the most inefficient method of prospecting in the world. I agree. It is very inefficient and even more so frustrating. It takes a special type of person to get their nose bloody every day and keep coming back for more. It takes persistence, creativity, a positive attitude, and the ability to understand the process and science behind it.
Another observation is no one seems to focus on the ROI behind cold calling. Who cares if it takes 1,000 calls to reach 100 people that converts to 20 first meetings? What happens if those 20 first meetings filled your pipeline and added 2 net new sales for your company? What if those two sales were over $1 million each?
The other assumption is that people are busy cold calling because they are blind to other methods of finding new business. What if you're an entry-level Inside Sales Representative and your only job is to "cold call" for other Outside Sales Representatives? What if you don't live in the same territory you work in? What if your boss won't let you do anything other then "cold call"?
If your job is to make cold calls and you are looking for an easy way out - my advice is find a new job.
In the mean time, here are my tips on effective cold calling:
Research the Company and Person you are Calling - use LinkedIn, Google, and tools like InsideView or OneSource. Find a connection to them.
Understand the Goal of Your Call - is it to secure a meeting? get a referral? check the status of something? Your goal should not be to educate them on how great your company is or why your product is better than your competitors (no ones cares by the way).
Be Different. Be Normal. Don't use a script; use an outline. Practice it. Do not sound like robot. Be yourself. Be different. Be normal.
Always ask "How are you?" I can't tell you how many people say not to ask this question. I think it is the best transition in the world to get to the point of why you called.
Keep it Short. Don't plan to be on the phone longer then two minutes. Schedule time to go more in-depth.
Speak in Their Terms. No one cares about your company. Bring them a new idea on how you can help their business. Convey you researched their company. Talk about how you helped their competitor gain a competitive edge.
Have Fun. Make a joke, tell a quick funny story; even state the obvious that you're a "cold caller".
You Can Always Talk About the Weather. No really, people love talking about it.
Understand the Science Behind It. Only 10% of people will answer your phone call. That means if you make 100 calls... only 10 people will answer. If you're frustrated, check your statistics for the day, week, month, and quarter.
Voicemails are Reminders. Nothing more. People absolutely hate checking their voicemails. You will never get your call returned. Don't try and trick people into returning your call either. Tell them you call at another date and time or to reply to the follow up email you just sent them.
For additional resources, below are three experts that provide value, insight, and positive approaches to cold calling. I highly recommend their material:
I have been getting asked recently for my list of top sales book.. I find most sales book fairly redundant and propose a similar methodology in different terms. If you're going to listen to any one in the sales world, I defer directly to Jeffrey Gitomer. He "gets it" and will make you do the same.
I am starting to read more around social psychology and books geared towards the history and movement of technology...
The following books have made a tremendous impact in my personal and professional life (in no particular order):
. 
This book outlines how to build a career and personal brand; which is a large part of building focus in your job search.
