Handling Rejection

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Plain and simple, selling is all about rejection and rejection stinks! Over the years I’ve heard many sales trainers say that in order to "handle" rejection, "Don’t take it personally."

Baloney! Rejection stinks and you can’t help but take it personally. Almost everything in life is personal. Have you ever had someone say to you, "Don’t take this personally, but…?" No matter what they say next, you’re going to take it personally.

Now while I’ve just painted a bleak picture about rejection and selling there is some good news: There is one very good way to handle rejection: KNOW HOW MUCH REJECTION YOU NEED. Because only if you know how much rejection you need, can you legitimately formulate a sales or activity plan.

What is your closing ratio? What percentage of appointments, that you set up get cancelled? How many phone conversations do you need to have, on average, to get one appointment? How many times do you physically have to dial the phone, on average, to reach a decision maker?

Every salesperson has an average, even if they don’t know what it is, they still have one. The best part is; it doesn’t matter what your average (or what I call your "a lot.") is, what matters is that you know what it is.

For example, if Salesperson A has a closing ratio of 4 to 1 and needs to close 10 sales in a month, he or she would need to have 40 face to face appointments to achieve the sales goal. If Salesperson B has a closing ratio of 6 to 1 he or she would need to have 60 face to face appointments to accomplish the same 10 sales.

Here’s where knowing how much rejection you need comes in: let’s say in the next month Salesperson A has 40 face to face appointments and Salesperson B has 50. Without knowing the numbers you would probably say Salesperson B did "a lot." But they didn’t'; because they’re "a lot" was 60. Salesperson A did a lot. He or she did what was needed to achieve the goal. Salesperson B might have worked harder. But Salesperson A worked smarter.

Knowing your numbers is also important in that it helps you spot trouble areas. Let’s say it normally takes 3 dials on average to reach a decision maker. By tracking yourself, you notice over the last few weeks it’s taking 5 dials. Now, because you tracked it, you can figure out what’s wrong. One thing might be that you changed the time of day when you normally do your dialing.

If you never bother to track your numbers, or activity, you would never catch something like that. Plus, by not knowing your averages (or your "a lot") you’ll never be able to know exactly how much rejection you need, and then rejection will truly stink.

Why Should I Care?

This week I attended the National Speakers Association Annual Convention. It was in Atlanta at the Downtown Hyatt and my wife and I stayed across the street at the Marriott Marquis.

I’ve always been a big fan of Marriott. To me, they were always the most consistent of the Chain Business Hotels (Hilton, Hyatt, Radisson, Sheraton, Westin, etc.). Unfortunately, this stay has started to shake my opinion.

We arrived at 4:30PM only to be told our room hadn’t been cleaned yet. I had just driven six hours to get there, the convention was starting at 6PM and both of us needed to get to our room to unpack and change.

When I told this to the desk clerk she said, “You can change at the Fitness Center.” I said, “Am I also supposed to drag that entire trolley of bags with me (we were going on to Hilton Head and Savannah after Atlanta)?” I said, “This is unacceptable.”

She then told me she would contact housekeeping and tell them to have the room cleaned “as soon as possible.” I said, “What does that mean? Does that mean five minutes, ten minutes, an hour, what?” She said, “Sir, I have no control over that, that’s up to housekeeping.” In other words, “I can’t and won’t do anything for you, so I’ll just shift the blame to housekeeping.”

She proceeded to tell me that, “Last night we were completely full and most of the people left today and we haven’t had a chance to clean the rooms.” Here’s my response to that: “Who cares, and why should I care?”

Am I going to receive a “We were full last night discount?” Probably not; in fact, I’m paying the same price I would pay if my room was ready on time. Of course, once I let it be known I was one customer they couldn’t get away with this on, miraculously a clean room appeared.

One night later we ate at the Marriott Steakhouse. We sat down at 6:45PM and didn’t receive out entrees till 8:15PM. When we complained to the manager he was apologetic, but then proceeded to tell us “We’re having issues in the kitchen tonight.” Again, who cares? When we sat down the menu they handed us had the same prices as the menus have on the nights when the kitchen is operating efficiently.

Why do so many companies, salespeople and service people insist on telling us why they’re inconveniencing us? Are we supposed to feel sorry for them: especially when we’re being charged the same amount as the people who are getting the good service?

By the way, the manager at the Marriott reduced our bill by 50%, but not until we approached them and demanded they do something about it. Don’t you think it would have been a lot better if someone would have taken the initiative?

Sun Tzu: The Art of War: Battling the Big Dogs, Part III

In my last two entries we have explored some of the teachings of "The Art of War," by former Chinese General Sun Tzu and it’s relevance to today’s business world, even though this text is over 2,000 years old.

Today we will look at three more of Sun Tzu’s principles of war in order to help the "Small Business Davids," (SMB) compete with the large "Regional and National Goliaths" (RNB).

Vision And Leadership

"The general must be first in the toils and fatigues of the army. In the heat of summer he does not spread his parasol, nor in the cold of winter don thick clothing…. he waits until the army’s wells have been dug and only then drinks; until the army’s food is cooked before he eats; until the army’s fortifications have been completed, to shelter himself."
…Sun Tzu

The role of leadership in business, as well as in war, cannot be overrated. Throughout history battles have turned on the examples set by generals and sergeants alike. And while words alone can inspire, they lack the power of a committed leader whose selflessness sets the tone for an army, or a company.

SMB Tip: "Do as I say, not as I do" is not a valid option for the successful small to mid-sized business. Pay attention to the example you set. As a leader, you are the "Attitude" of the company. And just remember: the attitude of the leader, will always be the attitude of the followers.

Staffing And Delegation

"A sovereign of high character and intelligence must be able to know the right man, should place the responsibility on him, and expect results." …Sun Tzu

What can be more important than finding and hiring the best people, and then giving them the opportunity to realize their full potential? From Peter Drucker’s first texts to Jim Collins’ Good to Great, management gurus have constantly expounded on the premise that great organizations exist because of outstanding people and terrific systems. The small business has an advantage in this regard if it understands how to use it. By their nature, smaller companies are inherently more appealing to first-rate people-they offer more challenges, more opportunities, more camaraderie, more freedom. To make these advantages real, the SMB must delegate willingly, encourage intellectual growth constantly, liberally reward emotionally and financially, and allow employees to find and be themselves.

SMB Tip: Don’t hesitate-hire good talent whenever you find it. Outstanding abilities are always a good investment! Too many SMB’s worry that hiring good people will only lead to them leaving for bigger and better things. So what! What’s the solution? Only hire mediocre to incompetent people? What’s so bad about becoming known as a launching pad for the best and the brightest? It’ll give you a leg up on recruiting the best and most innovative young people.

Allies

"If an enemy has alliances, the problem is grave and the enemy’s position strong. If he has no alliances, the problem is minor and the enemy’s position weak."…Sun Tzu

By inference, this quote explains the importance of allies to the SMB. As the difference in size and resources between the RNB and the SMB becomes greater, it is more important than ever for smaller businesses to find like-minded allies so that their pooled resources allow them to compete in such areas as marketing, purchasing, and specialty services.

SMB Tip: Better to pay half of a $15,000 marketing brochure extolling the virtues of both you and a fellow business owner than to own all of an inferior marketing piece for $7,500. Better yet, find 4 or 5 other SMB’s that don’t sell competing products or services, but sell to the same types of customers. Share information, marketing expertise and especially leads.

Sun Tzu: The Art of War: Battling the Big Dogs, Part II

Sun Tzu, Chinese general from around 400BC is famous for his text entitled, "The Art of War." Much of his advice is still relevant today.

Yesterday we explored two of Sun Tzu’s principles that will enable the "Small Business Davids" (SMB) of the world to compete with and beat "The Big Regional or Multi-national Goliaths (RNB). This week we’ll explore three more of those principles.

Strengthes And Weeknesses

"In war, numbers alone confer no advantage."…Sun Tzu

While the RNB’s certainly have some advantages due to more extensive resources, they also have several clear and distinct disadvantages -specifically:

• Longer lines of supply and communication (multiple levels of management; larger numbers of employees; national contracts, which may require specific materials and suppliers). These tend to slow the decision-making process.
• Specific policies and procedures that may thwart innovation and flexibility. To overcome whatever advantages size alone can afford, it is absolutely necessary for the smaller business to understand the weaknesses inherent in "bigger" and to act in ways that the larger company cannot. The advantages of maneuverability and rapid decision-making are squandered by the small business who only changes course slowly and reluctantly.

SMB Tip: Be bold, embrace change, and understand that your success is related to using the benefits that come from having the leaner, more efficient organization.

Preparation

"To not prepare is the greatest of crimes; to be prepared beforehand for any contingency is the greatest of virtues."…Sun Tzu

In business, as in warfare, it is the unexpected that causes the greatest damage. Planning, preparation, and a commitment to spending the resources necessary on the decision-making process are vital to successfully navigating today’s complex business environment. Committing time, capital, and people to planning and preparation may not seem as productive as "doing something." But these resources are not being wasted-they are being invested.

SMB Tip: If you don’t have a written three to five-year business plan, updated periodically, you are not really prepared. (P.S.: To me, periodically means quarterly.)

Speed

"What is of the greatest importance in war is extraordinary speed: One cannot afford to neglect opportunity."…Sun Tzu

Consumers and clients want instant gratification, 24/7 service, and a supplier or vendor who responds not only well, but quickly. Asking clients to wait two weeks for a price or a proposal is really asking them to look elsewhere.

SMB Tip: On the highway, speed kills – in business, as in war, it is a lack of speed that is deadly. Work incessantly to reduce delivery, response, design, manufacturing, installation or implementation cycle times.

Sun Tzu: The Art of War: Battling the Big Dogs, Part I

Sometime around 400 B.C. a Chinese general named Sun Tzu, prepared a text that has become known as The Art of War. The advice contained therein is still relevant today, especially where it pertains to the issue of small and mid-sized businesses (SMB) versus large regional or national corporations (RNB).

You may think you know everything about doing battle with the big guys, but, as Sun Tzu says, sometimes you’ve got to know when to hold them, when to fold them, and when to run.

Over the next three issues I’m going to explore some of his principles that have proven to be worth their weight in gold.

Winning Without Battle

"Thus those skilled in war subdue the enemy’s army without battle…They conquer by strategy." -Sun Tzu

The SMB do not possess the same resources of land, capital, and staying power as the RNB. Therefore, they must compete without pitting themselves directly against their larger, stronger opponent. They must use guile and learn to use their enemies’ strengths against them.

SMB Tip: When possible, locate near enough to an RNB to benefit from the traffic that their large advertising budgets produce. Capitalize on their efforts. While Wal-Mart may be hard to compete with, if you locate near them and do enough great things that they don’t, you’ll easily benefit from the traffic overflow.

Knowledge

"Know the enemy and know yourself; in a hundred battles you will never be in peril. When you are ignorant of the enemy, but know yourself, your chances of winning or losing are equal. If ignorant both of your enemy and yourself, you are certain in every battle to be in peril." -Sun Tzu

Knowing and understanding the practices, procedures, policies, and tactics of your RNB competitors is an absolute necessity for the SMB trying to survive and prosper in an environment populated by larger, stronger competitors. Equally important is the willingness to truly analyze the strengths and weaknesses of your own organization. The leader of any successful company does not see the world (and his position in it) as he or she would like it to be-he or she sees it as it really is!

SMB Tip: To know about the competition, visit them–physically and virtually on their web sites. Look at what they do, and honestly compare it to what you do. And when you come up lacking, fix it at once. To know yourself, make sure your company has a vision, a purpose, and stated core values. Then create a program that guarantees that every employee and associate knows and understands them.

With the advent of the internet, and the low cost of technology, the ability to obtain information on your competitors is available to even the smallest business, especially if they are a public company, as most RNB’s are. Thanks for reading and check back for part II!

See Yourself Successful

As a professional speaker, I’ve had the unique opportunity to travel the world and meet successful people from all walks of life. After speaking with and surveying these people, I’ve come up with some traits they all seem to share. The one I wish to share with you in this lesson is: the ability to "See Yourself Successful."

Successful people really believe if you can "see yourself successful," you can be successful. If you can see yourself doing something in your mind, you can do it. But if you can’t even see yourself doing something in your mind, how can you possibly expect to do it in real life.

Have you ever said to yourself, or heard someone else say, "I can’t imagine doing that in my wildest dreams?" Well, if you can’t do it in your wildest dreams what makes you think you can do it in real life? You know as well as I do; it’s a lot easier doing this stuff in our dreams.

So, see it! See yourself successful. What you’re trying to do is create a picture of what you want your success to be in your mind. That is what successful people do: they create visions.

Successful salespeople and successful business people also create visions. First and foremost they create visions for themselves. They create visions for both their lives and careers. And because they’re able to create visions for themselves they are also able to create and communicate visions for their clients.

But, after all, isn’t that what you’re supposed to be doing. Are you just there to sell them whatever the heck you can and get out? Or are you there to help the client create a vision of what they really want and need. Are you just there to sell them the first thing that comes out of your bag, or are you there as a resource for your clients, who is there to sell solutions to any problems they might have?

Yet, how can you possibly begin to create a vision for someone else, if you can’t even create a vision for yourself?

I want you to think about a person you all know. I’m sure every one of you knows an, "excuse maker." The kind of people who always tell us how successful they could have been, but: "I never have any luck; I don’t get the good leads; my manager hates me." We all know people like that. Yet, even if those people were right about all their excuses, I would still have one question for them: how come you still could not even see yourself successful? Nobody stops you from dreaming and if you don’t have good dreams, all that’s left are NIGHTMARES!

I am convinced one of the single, biggest reasons salespeople do not do business is that they simply give up. They don’t see themselves successful, they only see themselves failing. So you know what they need? They need a reason. So they start to pre-judge people to decide ahead of time why they won’t buy. "Oh, she won’t buy from me, I’m sure we’re too expensive;" "I’m positive he can’t afford to do business with us. Why bother to ask;" "They had a bad experience with us a few years ago, there’s no need to call again." It’s almost as if they reject the prospect before the prospect rejects them.

So SEE IT! See yourself successful; visualize it. Create a picture of what you want your success to be in your mind.