Strategic Alliances, by Doug Grady
February 1, 2012 by Doug · 2 Comments
Strategic Alliances, by Doug Grady
A Strategic Alliance is a formal relationship between two or more parties to pursue a set of agreed upon goals or to meet a critical business need while remaining independent organizations. (wikipedia)
When I began working closely with high achieving salespeople, entrepreneurs, and business leaders I was at times perplexed with what appeared to be a lack of hard work. While the average go-getters were knocking on doors, making phone calls and beating the streets trying to find someone to talk to (hard work indeed), these fortunate few were enjoying more time in front of quality prospects and customers. And more time playing golf, vacationing, and serving their communities. They made more money in less time and had more fun doing it. I discovered one of the reasons they were so successful. They weren't the only ones working.
Achievers go out of their way to surround themselves with quality people. People that they can support and be supported by. One of the most powerful ways to do this is through strategic alliances. Strategic alliances work for you to bring you your most valuable resources, saving you time, money, and energy. Effective strategic alliances begin with answering these three questions:
- Who has (or could have) a vested interest in your success? This might include non-competitive salespeople, other entities that service your market, retired veterans from your industry, or a business leader who is respected in your field.
- How can you bring value to this person/entity? Be clear on what you bring to the table. Will you provide leads? Introductions? Products and services? Incentives? Ask questions and listen. Value is determined by the receiver. "How can I help you?" is a powerful question if you really mean it.
- What do you want? Clarity is power. Be clear on your ideal form of support from each strategic alliance you initiate.
Consider treating the first 60-90 days of each strategic alliance as a short-term project. Go out of your way to nurture the relationship and give value without expecting anything in return. Monitor your progress and evaluate your relationship at the end of the designated time.
One of the strongest strategic alliances for High Achievers through the years has been with Business Networking International (BNI). It began in 2006 when we booked BNI's founder, Dr. Ivan Misner, to speak for us in California. It became stronger still when I met David Alexander in 2010. David is an Executive Director of BNI and is now also the CNO (Chief Networking Officer) of High Achievers. Check out my interview with David on High Achievers Radio and join us at one of our upcoming events this month.
The Self Confidence Formula, from Napoleon Hill's Think and Grow Rich
I first read Napoleon Hill's Think and Grow Rich in 1990 as a rookie in the insurance business. It has been a continuous source of wisdom and inspiration in my life for over 2 decades. More than anything else, The Self Confidence Formula has stuck with me. To this day I repeat it aloud twice daily.
The Self Confidence Formula, from Napoleon Hill's Think and Grow Rich
First. I know that I have the ability to achieve the object of my Definite Purpose in life, therefore, I DEMAND of myself persistent, continuous action toward its attainment, and I here and now promise to render such action.
Second. I realize the dominating thoughts of my mind will eventually reproduce themselves in outward, physical action, and gradually transform themselves into physical reality; therefore, I will concentrate my thoughts for thirty minutes daily, upon the task of thinking of the person I intend to become thereby creating in my mind a clear mental picture of that person.
Third. I know through the principle of autosuggestion, any desire that I persistently hold in my mind will eventually seek expression through some practical means of attaining the object back of it, therefore, I will devote ten minutes daily to demanding of myself the development of SELF CONFIDENCE.
Fourth. I have clearly written down a description of my DEFINITE CHIEF AIM in life, and I will never stop trying, until I shall have developed sufficient self-confidence for its attainment.
Fifth. I fully realize that no wealth or position can long endure. Unless built upon truth and justice therefore, I will engage in no transaction which does not benefit all whom it affects. I will succeed by attraction to myself the forces I wish to use, and the cooperation of other people. I will induce others to serve me, because of my willingness to serve others. I will eliminate hatred, envy, jealousy, selfishness, and cynicism, but developing love for all humanity; because I know that a negative attitude toward others can never bring me success. I will cause others to believe in me, because I will believe in them and in myself.
I will sign my name to this formula, commit it to memory and repeat it aloud once a day, with full FAITH that It will gradually influence my THOUGHTS and ACTIONS so that I will become a self-reliant, and successful person.
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How did we get here? Read The Ripple Effect.
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The Four Levels of Integrity; Level One Integrity: The Carrot and The Stick, by Doug Grady
March 5, 2011 by Doug · 7 Comments
The Four Levels of Integrity: Level One Integrity: The Carrot and the Stick, by Doug Grady
Here’s my simple definition of integrity:
Integrity: The act of doing what you said you would do when you said you would do it.
It is a yes or no scenario- you either did or you didn’t. Missing a deadline, skipping a scheduled workout, or eating something I said I wouldn't are all examples of integrity lacking. When it comes to developing a new habit, eliminating a bad habit, or developing a daily discipline, keeping your word isn’t always easy. In striving to live a life of integrity, I have noticed the way in which I do so is not always the same. In evaluating patterns in my life and others, I have distinguished 4 distinct ways in which integrity occurs. I call these the four levels of integrity.
Level One Integrity- The Carrot and The Stick
“The secret of success is learning how to use pain and pleasure instead of having pain and pleasure use you.” –Tony Robbins
Level one integrity is externally motivated and primarily driven by the desire to avoid (external) pain and to gain (external) pleasure.
In my second year in as an agent in the insurance business I set 2 records within a 3 month period. One of the disciplines I engaged in was a minimum of 25 prospecting calls each business day for 11 weeks. My carrot: the coveted President’s ring. My stick: I had to work Sundays if I did not reach my weekly sales goals. Consciously setting up a structure which rewards desired behavior and discourages unwanted behavior is a critical success skill.
"What gets rewarded gets repeated" -Brian Tracy
Examples of (external) pain:
- April 15th
- Obeying the speed limit in an area known to have cops
- Depriving yourself of something fun (TV, internet, recreation) until you have fulfilled your daily commitment(s). Brian Tracy calls this “dinner before desert.”
Examples of (external) pleasure:
- Showing up on time or early to impress your boss
- Pushing to qualify for a company trip, President’s club or other incentive
- Buying a new dress if you reach your intended weight
The power of the carrot and the stick is available to us at any time. You can create incentives for yourself for sticking to your daily commitments and reaching milestones. You can impose sanctions for not honoring your word or not reaching a goal.
The major drawbacks of relying too heavily on level one integrity fall generally into two categories:
1. Getting hit with the stick may at times feel better than honoring your commitment.
2. You may decide your carrot is not worth the effort and break your commitment.
Choose your carrot and stick wisely, as well as the structure in which it is enforced. Be careful not to put too much stock in the carrot or the stick. It is your personal integrity, not external forces, which must reign supreme.
Level Two integrity succeeds where Level One fails.
The Ripple Effect, by Doug Grady
October 31, 2010 by Doug · 23 Comments
You may find yourself living in a shotgun shack
You may find yourself in another part of the world
You may find yourself behind the wheel of a large automobile
You may find yourself in a beautiful house with a beautiful wife
You may ask yourself, well how did I get here?
-The Talking Heads, Once in a Lifetime
The Ripple Effect
by Doug Grady
I have always been fascinated with how we become who we are. What creates breakthroughs in our lives? What causes some people to wake up enthused and go to bed fulfilled? How do we create a life we are excited about that also makes a powerful and positive difference for others? Why do so many incredibly talented, gifted, and “fortunate” people end up ruining their lives (insert your favorite Hollywood tragedy here)? How do others defy the odds and live extraordinary, exemplary lives?
Read more
Sales KILLERS, by Doug Grady
August 1, 2010 by Doug · Leave a Comment
Sales KILLERS, by Doug Grady
“I killed it! I killed my pretty sale!” –Tommy Boy
Why are you killing sales? Have you ever wondered about the sales you lost- what went wrong? Here are the biggest sales killers.
1. You have been DISMISSED. Many salespeople are dismissed before they even open their mouths. This dismissal is confirmed once they open their mouths. Your prospect is unconsciously asking, “Who are you and why should I care?” You need a specific, relevant answer to this question to avoid being dismissed. The Superior Salesperson separates himself from the masses through creative door openers, personal marketing, strategic relationships, and reality based communication. If you’re dismissed, your sale is dead.
2. Ineffective READs. There are 4 steps all customers go through before they buy anything from anybody. The Superior Salesperson understands these steps, where the customer is in their buying process, and how to communicate effectively through each step. They pay attention to verbal an non-verbal cues and adjust themselves to personality styles. Failure to READ your prospect kills sales.
3. Lack of flexibility. The average salesperson engages in “verbal vomit.” They “show up and throw up.” “Blah, blah, blah…” This may occasionally bore some prospects into submission but will seldom attract the bigger and better clients. Lack of flexibility is a sales killer.
Just one of these 3 sales killers is enough to significantly decrease your closing ratio. Learn how to be more aware and present in your communication. Learn how to separate yourself from your competition. Learn how to adjust your communication given the situation. Learn how to READ your prospect.
see How to READ People- part 1
How to READ your Prospect: Evaluation, by Doug Grady (part two)
May 15, 2010 by Doug · 2 Comments
How to READ your Prospect, by Doug Grady
E- Evaluation. Once your prospect is within realization (see part 1), evaluation begins. Human beings are evaluation machines. Evaluations are simply questions your prospects are asking which much be answered to their satisfaction before they buy. Your prospect consciously or unconsciously asks questions in four general areas:
- Why you?
- Why your company?
- Why your product/service?
- Why now?
Failure to satisfactorily answer just one of these areas can kill your sale.
The answers to these questions fall into two basic categories: the desire to gain pleasure and the desire to avoid pain.
Specific "pleasure" points may include:
- Return on investment
- Improved employee morale
- Pride
- Ego
- Security
- Approval from others
- Feelings of Success
- Intelligence
- Convenience
- Personal growth
- Keeping up with peers
"Pain" relief may fall into these categories:
- Increased profits
- Decreased costs
- Increased sales
- Efficiency
- Less stress
- Increased productivity
- Peace of mind
- Job security
Strategy 1: Ask “pleasure” and “pain” questions. In order to influence the valuation if others, you know how they evaluate. Earth-shattering, I know. Yet so many salespeople simply “show up and throw up”. They talk about every feature, advantage and benefit known to mankind regarding their product in hopes that one will miraculously connect with their prospect in such a way that they are uncontrollably compelled to say “I’ll take it!”
Examples of “pleasure” questions:
What’s most important to you in _______?
Why is that so important?
What do you like most about your current situation?
Why do you like that so much?
Why did you decide to go with XYZ company?
Examples of “pain” questions:
What’s not working?
If you could change anything about your current situation, what would it be?
What concerns do you have in this area?
On a scale of 1 to 10, how are things going in this area? What’s missing to make it a 10?
Strategy 2: Presentational Positioning. Your presentation should be relevant and specific to your prospect and their current situation. If you have asked effective questions, listened, and received accurate answers you are ready to give a tailored presentation. In your presentation, position your product or service as a way for them to move toward what they want and away from what they don’t want.
Recommended HAN faculty: McKain, Weldon, Grady, Sjodin, Hutson (in members area)
How to READ your Prospect, by Doug Grady (Part one- Realization)
How to READ your Prospect, by Doug Grady
Have you ever wondered why some people buy and some don’t? Why you can ‘nail’ a presentation and still lose the sale? Why some prospect with obvious needs won’t even talk to you? Why some people give a fast “yes” but you end up with a slow “no”?
It’s not about you.
So much of traditional sales training has focused on what you, the salesperson do. If they say this, you respond with that; this is what you say and how you say it; you have to go through the steps of the sale, you have to close early and often, blah blah blah. This is all about you. There is really only one entity that determines if and when a sale is made, it’s your prospect. In this 4 part blog we’ll explore the 4 steps all prospects go through before they buy anything from anybody.
Part One: Realization
R- Realization. Have you ever talked with a potential customer- someone you know would be better off with your products or services than without- the only problem is… they don’t know it! Until your prospect accepts the possibility they might do business with someone in your industry within a reasonable period of time (it might even be you) the most powerful of presentations will fall on deaf ears. Realization occurs when your potential client first understands that they are in fact a potential buyer of your products or services. Your job is to find them in realization, creatively get them there, or be around when they get there.
- Strategy 1: Find prospects in realization. This is what traditional prospecting is designed to do. You keep beatin’ the streets, smilin’ and dialin’ until you find someone who is at this point of realization and is willing to talk to you. While it is true sales is a numbers game, it’s not just quantity, but quality of activity that counts. If someone is not yet at the point of realization, you have 2 choices: move on or:
- Strategy 2: Creative door-openers. One of the questions your prospects are unconsciously asking themselves is, “Why should I talk to you right now?” You must find ways to creatively answer this question. Look for excuses to call back your best prospects. Do your homework- research your best prospects and ask yourself, “If I were this person, what would get my attention?” Find people, places and things to creatively open the door for you.
- People: Who do you know that can provide an introduction for you to your best prospects?
- Places: There are people who will have coffee with you and not lunch, and vice-versa. There are people who will accept a golfing invitation who will never have you in their office. Think creatively as to what type of invitation your prospect might accept.
- Things: I once secured an appointment with an elusive prospect after finding out he was from New Orleans. I sent a bottle of Tabasco sauce with a note saying “Some of the best things come from Louisiana- I’d like to meet you.”
If you are unsuccessful at creatively opening the door you have 2 choices: move on or:
- Strategy 3: Be around when your prospect realizes. When someone in your market has a need, do they think of you first, second, or not at all? Many of the best salespeople I know are also the best personal marketers I know. They stay on the “mind of the market” by developing and nurturing an identity in their market. When realization occurs, they are thought of, sought out, and given a shot at the business. Your personal marketing efforts should include several of the following personal marketing strategies:
- Newsletters
- Personal brochure
- Direct mail
- Networking meetings
- Business associations
- Referral groups
- Speaking engagements
- Writing articles
- Social media
- Blogging
- Strategic alliances
- Advertising
- Charity work
Until realization occurs in the mind of your prospect, nothing will happen. Once they get there, they begin to move into step 2, E, the focus of next week’s blog.
Recommended HAN faculty: Weldon, Grady, Gundrum, Levinson, Misner, Reaves
Sales Instinct, by Doug Grady
Sales Instinct, by Doug Grady
From time to time I have found myself watching ESPN’s coverage of the World Series of Poker. It provides an interesting look into human nature. Statistically, roughly 12 million Americans play poker, but only 5% are consistently profitable. Some of these 5% make hundreds of thousands of dollars every year and all they do is play poker. The winner of the 2006 World Series of Poker Main Event… $12 million dollars in approximately six and a half days. Now, those of you who understand the game of poker, you know where that money comes from. That’s right, it comes from the losers!
You have to wonder- what are the winners doing that the losers aren’t doing? That’s a great question for your business isn’t it? What does the top 5% of your industry do that the other 95% does not do? If you do what the top 5% does, you too will be successful. The best poker players have what is referred to as “poker instinct”. Poker instinct is the ability to read people and situations; to pick up on verbal and non-verbal hints and clues; to understand basic personality styles, to anticipate tendencies. Based on this read they make better decisions, in other words they alter their communication, and in the long run, if their read is accurate, they make more money. Doyle Brunson, considered to the “Godfather of Poker,” once said, “Being able to read people, understand people, is as important as the mathematical knowledge necessary to weigh pot odds and figure out betting strategy. Poker is a game of people, not cards, and you have to be able to understand and know people.” Reread that last sentence and replace the word “poker” with “sales”, “communication” or “leadership”. Replace “cards” with “services”, “products”, “prices”, “numbers”, or “features.”
In sales, in communication, and in leadership we have instincts. They are very similar to poker instincts. They are your ability to read people and situations, to understand human behavior, to pick up on verbal and non-verbal hints and clues. Based on an effective read you can make better decisions, in other words you can alter your communication. You can become more appropriate, relevant, and specific to the situation and the person you are working with. If your read is on, your communication will be on and in the long run you will make sales you previously would have missed. Let’s start with a basic premise- it’s not about you. There is only one entity which ultimately determines whether or not a sale is made or a commitment is reached and it is not you. It is your potential customer. The speed and manner in which different customers go through these steps varies based on many factors: personality, external influences, culture, even mood of the day. Based on an accurate read you will make better decisions, you will alter your communication and ultimately achieve more sales, more results in a shorter period of time. Here are a few simple strategies to improve your read:
- Do your homework- the simple task of “googling” your prospect before you approach can give you invaluable insight into who they are and what they are all about.
- Become a student of human behavior- study basic personality types and how they communicate.
- Become more flexible in your communication. Try mimicking the voices you hear on the radio and the actors you see on TV and in the movies.
- Ask better questions and become a great listener. Most of us can dramatically improve our listening ability. Be interested not interesting.
- After every presentation ask yourself 2 questions: “What did I do right?” and “What could I have done differently?”
- Get coaching. Find someone you trust and share with this person a challenging communication situation for feedback. Better yet, record a live presentation with a live prospect and watch it with your coach. This can be as enlightening as it is uncomfortable.
Develop your sales instincts, improve your reads, make more sales…
Recommended High Achievers Network programs: Brinkman, Grady, Reaves, Hutson, Weldon, Gundrum
