Making Up For Lost Time!

I am a big fan of H. G Wells "The Time Machine". 

  

The 1960 version with Rod Taylor... classic!

  

At the end of the movie, H.G Wells drags the time machine several feet just to the right spot and turns back the hands of time to rescue Weena and live happily ever after.

 

I have always been fascinated by time travel, speed of light (warp speed) and worm holes... yes, that may qualify me as a nerd!

  

Romantic use of time is good... but what about using a time machine to make more money?

 

Time travel to make more money in sales is possible...

 

How you ask?  Make up for lost time. 

Here is the complex mathematical formula (I knew 3 1/2 years of of GA Tech would come in handy one day!);

  

$$$ = RGA/T

 

$ = Money

T= Time

RGA= Revenue Generating Activities

 

The constant (a requirement of any reliable formula) is time.  We are all working with the same 24 hours... the same 86,400 seconds.  If you look at your leaderboard or the highest producers, I can assure you they are not getting more time than you... it is the use of that time.

 

Yes, they may have a higher closing percentage... yes, they may be getting more referrals and repeat business.  One thing that sets highly productive and effective sales people apart from the ordinary is that they spend the majority of their precious time in Revenue Generating Activities.

 

Revenue Generating Activities are the actions you take that have a direct bearing on closing a sale.  It puts you in the boardroom presenting to decision makers... it puts you at the kitchen table advising your prospective clients.  It is the pinnacle of the sales process. 

 

Fancy talk Brandon, but not very "real world"... no one can spend all their time closing.  What about prospecting, paperwork, driving to and from clients... those are all the necessary "evils" of sales.

 

Really?

 

I know sales people that outsource 60% of their lead generation to a marketing company... yes, they monitor and manage but don't administer... appointments are preset, the sales person shows up and closes.

 

I know sales people that have a personal assistant.  They do the paperwork, reconcile commissions and even some light errands... all saving them time... so they can focus on Revenue Generating Activities... to make money.

 

I have met one sales person that has a driver to cut down on windshield time... Gordon Gecko from Wall Street style... all in the interest of maximizing their time.

 

"I can't afford and assistant," a sales person said to me 3 months ago.  I asked how many more sales a week could she close if she wasn't doing the non-Revenue Generating Activities.

 

At least 3-4 more a week," she answered.

 

What would you pay a good assistant for 20 hours a week...$12 an hour...$240 a week?

 

You would earn an additional $1500-$2000 a week, stop doing the stuff you hate (paperwork!) and begin running a real business... all the while...

 

Making up for lost time...

 

Until tomorrow, I wish you Money, Power, Success!

Time Is Not Money!

Happy Friday!  

Remember filing out job applications as a teenager? I do...

I had to earn my own money to get the school clothes I wanted to impress the ladies (who am I kidding!) and earn enough for the senior cruise to the Caribbean.

  

All in, I needed $800 for he summer...it might as well have been a million!

  

"What does the job pay an hour?" I would ask based on instruction from my father.

  

It was 1980 and at that time minimum wage was $3.35.  There was no way you could work 40 hours while still in high school so the most I could hope for was 15-20 hours...that math was not going to help me meet my objective (I'm not just reminiscing...this is a business relevant story!).

 

I got a job at Ponderosa Steakhouse as a dishwasher.  Four of my best friends worked there and lots of cute girls...that was my favorite job EVER!

  

One day Mr. White, the manager, asked me to clean a table.  On the way to complete the task, a man stopped me.

 

"Can you bring me extra sour cream?"

 

"Sure, does anyone else here need anything?" I asked energetically.

 

A few people in the large group had requests and I filled them all with a happy smile.  I cleaned the table and went back to the dishwashing.  About 10 minutes later the man opened the door to the back area and said,

 

"This is for you for having such a great attitude."

 

He slipped a $5 bill into my hand and walked off. 

 

What did that money do?

 

IT CHANGED EVERYTHING!

 

I begged Mr. While to let me wait tables.  He allowed me to cover the floor as people took 15 minute and hour long breaks.  I covered for people who called in sick or when Sunday afternoon crowds got out of hand. 

 

No matter how long I got to be on the floor, I always made and extra $3, $7 or $10 for the time I spent helping people...it is a service industry!

 

Because I was still a dishwasher, I also got to keep my $3.35 an hour rather than the $2.65 plus tips the waitressed got.

 

I was in heaven...

 

It was the first job that made me realize you could get paid for your efforts...your performance... your effectiveness...your service.

 

It was the first and last job where I asked "How much does it pay an hour?"

 

At 16 years of age, I realized I had been steered wrong, mislead, bamboozled and hoodwinked... 

 

I realized that Time Was Not Money!

 

Until tomorrow, I wish you Money, Power, Success!

The Bottom Line!

Back in 1998 when my two boys were small they broke a toy they had just gotten for Christmas.  They casually tossed it into the corner and began playing with something else.

 

"Do you realize the value of that toy? "I asked.

 

Two blank faces...about 9 and 7 years old.  Young...but old enough for a lesson on money...and time.

 

"It cost about $20."

 

Two blank faces...now one angry face. 

 

"That means your uncle who earns about $10 an hour had to work how long to pay for this?"

 

"Two hours," they answered in unison.

 

"Not quite that simple," I began.  "Your uncle runs his own carpet cleaning business.  He has to spend time and money getting to and from his clients.  He has to spend money to find clients.  On top of that, he has to pay taxes...15%"

 

"It may have taken him 5 hours to make this $20," I concluded. 

 

Two quizzical looks turned to looks of enlightenment...

 

"What do you have to say now that you understand the value of the toy you discarded?" I said with a hint of satisfaction knowing another teachable moment had been successfully completed.

 

They conferred with whispers for a moment, knowing that their answer would be the difference between another speech...or a spanking. The oldest one stepped forward to issue their official response...

 

"You mean our uncle only makes $4 an hour?"

 

As I did the math in my head I realize I had just been bested by two small children.  They had cut through all the things I had tried to show them to get down the only thing that mattered;

 

I wanted them to see he ran his own business...

 

I wanted them to see he had to advertise and market...

 

I wanted them to see he had to do administrative things to manage his business...

 

I wanted them to see the impact on taxes on his business...

 

What did they see?

 

The only thing that really matters...

 

THE BOTTOM LINE...

 

What's yours? 

 

Until tomorrow, I wish you Money, Power, Success!

Que Sera Sera!

What are you doing today? 

 

Working?  That's great!

 

Sales call?  Even better!

 

Do you even know what you are doing today?

 

Do you have a plan or are you living the Que Sera Sera life?

 

Yes, anyone in Generation "X", "Y" or "Z" won't feel me, but anyone born before 1982 will remember Doris Day's song...what does it mean?

 

"Whatever will be...will be". 

 

The old-schoolers in the house will know that Doris Day's mother in the song was referring more to love and destiny - who knows what the future will bring is the theme. 

 

As poetry, it is a beautiful sentiment, but as a way of life for a sales professional...it is deadly!

 

Each day you have to have an agenda of what your day will hold.  You have to know in dedicated blocks how you are going to utilize the precious commodity of time. 

 

"Failing to plan is planning to fail"

Alan Lakein

 

Each day contains 24 hours, each hour is 60 minutes and each minute is 60 seconds.  Each one of those seconds is a potentially life altering moment.  No, I am not being dramatic.  Each second matters...

 

In a second...you could decide to hit the snooze button and decide to skip the gym...again.

 

In a second...you could internalize the bad call you just had and decide to call it a day...at 2pm

 

In a second...you could see your golf clubs in the corner and decide to call

your buddies for a round...Monday morning. 

 

What is the common theme above?

 

Activities take minutes and hours...and days...

 

Decisions take seconds.

 

What really drives your path to success is not actitivities...it is decisions.  A daily plan means your decisions are already made for you.  If you break them, it is an blatant disobedience of what YOU have defined as the necessary tactics for your success.

 

So for the next few Daily Crumbs, I am going to spend some time...talking about time.

 

Take 3 seconds and decide you are going to be a better time manager.

 

3...2...1

 

Great...but for one more day...

 

Que Sera Sera!

 

Until 86,400 seconds from now, I wish you Money, Power, Success!

Threat of Tornadoes!

Want to see me shut down and get real quiet? (that is no small feat!)

 

Tell me a there is a threat of tornadoes!

 

Threat of rain...let the rain fall (unless I am playing golf!).

 

Threat of thunderstorms...let the sky light up for all I care.

 

But if the weatherman forecasts the threat of tornadoes...let's just say it's not pretty!

 

The word "threat" conjures up so many things and certainly all negative. 

 

What threatens the success of your business?

 

More importantly...what are you going to do about it?

 

Not the most positive thing to think about, but the best time to get ready for them is before they happen.  As the final segment of your SWOT Analysis, you need to take inventory of the things that could derail your efforts.

 

One final visit to our $100,000 objective, list the Threats;

 

Threats in prospecting for the clients you need.

 

Threats in closing the prospects you find.

 

Threats in getting repeat business and/or portfolio selling more than one product

 

Threats in getting referrals

 

If you can, measure the Threat level and have a contingency plan.  Watching "War Games" with Matthew Broderick back in the 80's was the first time I was made familiar with Defcon threat levels - 5 was "safe" and 1 was "imminent".

 

Let's say your Threat in prospecting  for new clients is getting 1.25% response rate on direct mail.  As you monitor each week, you have to have an action to combat the effects of changes in your results.  Anything below 1.25% should put you on alert...anything below 1% should put you in FULL alert! 

 

Make sense?

 

 

Realize most threat do not come to fruition. The weatherman even gives odds to the threats... 40% chance of rain...which means there is a 60% chance it won't.

 

"Expect the best, but prepare for the worst"

Zig Ziglar

 

The best thing you can do for these odds is to have back-up strategies and contingency plans.

 

If there is a threat of rain you carry an umbrella...or like me, you build a basement...just in case of the Threat of Tornadoes!

 

Until tomorrow, I wish you Money, Power, Success!

Opportunityisnowhere!

Happy Monday!  What do you see in the above?

 

"Opportunity Is No Where."

 

or

 

"Opportunity Is Now Here!"

 

Don't you hate these optical delusions sometimes? (not a Freudian slip either!)

 

Yes, it depends on your perspective of the moment if you see Opportunity or not...in the words above or in your situation.

 

Make no mistake, opportunity is all around you.  The obvious ones are the ones everyone can see.  They are crowded, have reached critical mass or saturation.

 

That is what makes it look like "Opportunity is No Where".

 

Some opportunities are not so obvious or they are catered specifically to you; the way you do business or your unique Strengths. They have to be discovered and uncovered but as I always say,"

 

"A Solution Is In Your Situation."

 

The best way to extract new opportunity from the current environment is to take inventory of them.  For consistency of this exercise, let's go back to our $100,000 objective, rank your opportunities in several areas;

 

Opportunities in prospecting for the clients you need.

 

Opportunities in closing the prospects you find.

 

Opportunities in getting repeat business and/or portfolio selling more than one product

 

Opportunities in getting referrals

 

Unique opportunities will require work to leverage.  What makes an opportunity crowded is that the path of least resistance means more people want to get in.  When there is "free and plenty" they will be many. 

 

Look outside the box at your industry.  Solve a tougher problem than others are willing to tackle...it will take work but will be worth it!

 

"Opportunity is missed by most people because it is dressed in overalls

and looks like work."

Thomas A Edison

 

 

Review a previous opportunity that didn't work out.  To have success requires three components - Opportunity, Timing and People.  If you tried something before and it didn't work, the timing may have been off or you needed to develop a particular skill or learning.  Like the child with the shoe from yesterday...it may be time to try again.  

 

"Failure is simply the opportunity to begin again, this time more intelligently."

Henry Ford

 

 

Opportunity is special in that it will open it's arms of access to anyone willing to put in the effort.  It gives special reward to those who are early and eager.

 

Opportunity is fickle in that it will let anyone in...even those not fully prepared or with the right motives...

 

That is what damages a noble profession like sales.  Opportunity never says "enough is enough"... that cry for change is what leads to innovation and ingenuity when the opportunity needs to Evolve.

Review your opportunities.  Some of them will require innovation and ingenuity and you will see them "pop out" of your environment magically.

In a "Eureka" moment you will have a flash of inspiration and see that 

"OPPORTUNITY IS NOW HERE!"

 

 

Until tomorrow, I wish you Money, Power, Success!

HELP!

What is your weakness?

 

Silence...

 

No one wants to admit weaknesses.

 

It makes us vulnerable...embarrassed...exposed.

 

Ever watch a child learning to tie their shoe?  Whispering the instructions to themselves, tongue stuck out to aid in concentration.

 

Frustration sets in and they give up...

 

But when you try to tie it for them or give them instruction...what do they do?

 

"Noooo...I can doooo it!" they exclaim in defiance.

 

Where do you need help?

 

In the SWOT Analysis, a Weakness is not a sign of failure but an indicator that you need to learn to tie your shoe!

 

 

Going back to our $100,000 objective, rank your challenges in several areas;

 

Weaknesses in prospecting for the clients you need.

 

Weakness in closing the prospects you find.

 

Weaknesses in getting repeat business and/or portfolio selling more than one product

 

Weakness in getting referrals

 

 

Many of the Weaknesses can be outsourced or delegated.  If you are weakest in prospecting you may need to work with a company for lead generation.  If you are not great at administration that helps you keep up with clients for repeat business and referrals you can hire an assistant (yes, they will pay for themselves!)...or use a Client Relationship Management tool (CRM).

 

Many of your Weaknesses need Skills Development.  If you are not a good closer then you may need sales development training. Do you have a manager or colleague that you can observe in action...or better yet...observe you?

 

I have done 100's of workshops with 1,000's of sales people and do you know that the most hated exercise is?

 

You guessed it...role playing!

 

No one wants to have other people watch them learn to "tie their shoe", but it is one of the most powerful ways to adopt new improved behavior.

 

Trust me...we all need some improvement in some area of our lives and there is no shame in asking for and getting help.  We watch with pride as our child remains persistent and even stubborn in learning something new that we all take for granted. 

 

"Our greatest weakness lies in giving up. The most certain way to succeed

is always to try just one more time.

Thomas A Edison 

 

I Repeat...Never Give Up!

 

Raise your hand, raise your voice and scream it after me...

 

HELP! 

 

Until tomorrow, I wish you Money, Power, Success!