Looking to gain lasting reward in your sales career? Phew! Glad you said that. Here are 5 ways that sales professionals ensure this is the case, courtesy of The Humble Sale. As always, there are no shortcuts here so get ready to really work at it.
Often in sales your immediate focus, the horizon you are aiming at, is a short term financial target or live deal that you are trying to win. Everyone in sales faces these pressures (and many of us thrive on them). However, by extending your horizon beyond the current challenge you can take action to lay foundations for future success. Done correctly, there is no reason why you can’t make achievements progressively easier to come by and gain lasting reward.
Lasting Reward Idea 1: Start Small to Build Big
When developing your business or sales territory there are many ways to establish a customer base. For example, it is possible to win a large, keystone client early on and use them as a magnet for other customers. This is challenging though and most larger organisations will want evidence of your track record and other comfort factors, which you may not be able to demonstrate. A more sensible route is to start small and build big.
Look at a market that you wish to sell into and map all the key players. Maybe organise them by turnover or employee numbers into small, medium and large prospects. Focus your initial efforts on developing business with the smaller organisations, with a view to establishing your name in that sector and building a reference base for future business. You might even take a tiered approach, focusing on several small prospects for quicker returns, a few mid-size prospects and one or two large prospects for longer term returns. The best way to open doors is with referrals so think strategically.
Taking this idea further…
This week in the office we genuinely discussed how to break into a large target client from a standing start. Our plan became to investigate the supplier and customer base of the large company and in the short term target these organisations. Think about it. If you could convert several of these into customers, your name may start to grow in prominence with the large prospect. With luck, you’ll be mentioned in conversation or the prospect will be exposed to the results of your work, your people, logo or brand. Most importantly, you’ll gain the ability to be referred in to the large prospect by their established relationships. Definitely a long game, it could take months or years, but at the right moment you may end up with a better introduction than your competition.
Lasting Reward Idea 2: Make Your Reputation Everything
How often in life are you advised not to burn your bridges? This is very true in business. To achieve lasting success become known for being trusted, creative, safe, helpful, ethical, anything important to your personal brand. You don’t want to have to start again every time you switch company or role. This is why establishing and then protecting your reputation is vital.
Firstly, it is vital for sales success. You won’t be able to ask for referrals if your reputation isn’t trusted. This applies to both referrals from customers you have won and also those you have lost but still delivered a positive experience to (most don’t think of this – there can be many reasons you’ll lose deals outside your control, but you can still establish a good reputation). Also, people move companies and they remember good salespeople. Several times in my career I’ve been contacted by previous clients who have moved company and invited me in to help.
Secondly, it is vital for career success. If you establish a great reputation other companies will want to employ you, and you’ll always have options. Many of the most successful business people I know have progressed their careers without heading out into the job market. Instead, they are regularly approached by prospective employers. If you are interested in progressing up the sales ladder to leadership level your reputation will open doors. Plus, it’ll make it easier for those you may have been working alongside to adjust to reporting to you.
Lasting Reward Idea 3: Cultivate a Meaningful Business Network
To be successful build a trusted network around you. These should be real, dependable contacts that you can turn to for introductions, advice, mentorship or help. Investing in and nurturing a business network will pay dividends. Remember it isn’t all one-way. Go out of your way to bring value to your business relationships and be helpful to others, as you need them to be for you. That way, you’ll always have people to turn to when you need them most.
It is important to invest time in a network and not use it to seek immediate gain. This is true for your social network too. If your online contact list is a mere collection of prospects or people you don’t really know you’re not establishing a network that will work for you in the future. Get to know everyone and limit your connections to people where you are prepared to do this.
Lasting Reward Idea 4: Balance Effort with Risk
You will need to develop a strong work ethic and truly graft to experience lasting success. One consistent quality of successful people is that they have excellent working routines and know how to roll their sleeves up. Interestingly, they also know when to take risks for larger returns.
Think back to Idea 1 about starting small. The balanced approach to prospecting organisations of various sizes is sensible. Eventually though, when your confidence allows, there will come a moment where you need to take a risk. You may need to spend a long time developing a single prospect or “mega-deal” knowing that if it pays off you’ll be a hero, but if not, you’ll have nothing to show for all the effort. You’ll know the opportunity when you see it. Please try not to shy away from it, embrace it but plan very, very well (including a disaster recovery plan in case it does go wrong – how quickly could you re-establish normal business levels?).
Risk may also take the form of changing roles when opportunities arise. You may be fearful of this (especially if you tend to be very loyal to your company). Again, you’ll know when the opportunity is perfect for you. Take a deep breath and dive in.
Talking to successful people you’ll find they all have a story about a career-defining moment, deal, change or situation. It will nearly always involve large risk and larger returns. It will definitely have helped shape them and delivered lasting reward.
Lasting Reward Idea 5: Understand the Importance of Timing
The above ideas are designed to lay strong foundations, practical and behavioural, that will give you a chance to gain lasting reward. Firstly, develop a solid customer base. Secondly, develop a solid reputation. Thirdly, a solid network. Finally, an appetite for balanced risk. However, knowing when to use these for advantage is all about timing.
Developing a new network contact and asking them too early for help will not seem genuine. Taking large risks without developing the underlying skills required for success would make them foolhardy. Therefore, every time you embark on anything in your sales career, consider the timing. That takes discipline. It may mean rejecting a job offer because you don’t feel ready, waiting an entire contract cycle with a prospect so that you have established credibility or references to improve the chances of winning, walking away from large opportunities rather than taking a risk. As a result, you’ll waste less time on work, deals or projects that will lead nowhere, and limit your efforts to work that feeds your long term plan.
Summary of our 5 Ways to Gain Lasting Reward:
You may want to jot these down as a handy reminder!
- Start Small to Build Big
- Make Your Reputation Everything
- Cultivate a Meaningful Business Network
- Balance Effort with Risk
- Understand the Importance of Timing
As we regularly explore here at The Humble Sale building personal success takes commitment and practice. However, gaining lasting success takes diligent, consistent application from an early starting point. In conclusion, the message is simple: spend quality time laying future foundations as part of your day to day selling routine so that your business gets easier, your rewards get greater and your professional satisfaction blossoms.
Finally, a highly recommended way to gain lasting reward is to follow our social channels. That way you can keep The Humble Sale close at hand, poised and ready to provide help when you need it!
