April 20, 2024

Staying Alive: Meet the Sales Consultant

Staying Alive

The struggles of a business trying to survive.

Editor’s note: Paul Downs is writing this week about his decision to hire a sales consultant. The series started with this post.

Sam Saxton had hired a consultant to help him revamp his sales operation shortly after acquiring his company. Unlike me, Mr. Saxton had not spent years selling a product that he had designed himself. He did no sales at all, and he had never been directly involved with selling. And the sales staff that he inherited when he bought his company was not performing well. So he brought in a consultant, Bob Waks, to give them a tune-up.

Mr. Saxton is a courageous guy. When he needed sales help, he just searched online for  “sales consultant” and called a couple of the companies that came up in the results. After interviewing a number of candidates, he chose Mr. Waks. By the time my problem came around, Mr. Saxton had been working with Mr. Waks for more than a year and had experienced a striking increase in sales volume. He told me that I should get some help with selling and that Mr. Waks was the guy to call.

Being told that my selling methods needed improvement was a blow to my pride. I had been closing deals for 24 years, and I thought I had a pretty good handle on how it should be done. I also thought I had the right attitude about my sales efforts: passion for my people and our work and pride in our beautiful proposals. Asking for outside help was an admission that maybe I wasn’t as good a salesman as I had thought and that maybe our process wasn’t so great either. But by the end of May 2012, with our sales lagging far behind target and our backlog disappearing, I called Mr. Waks.

Our first meeting was a little disconcerting. Mr. Waks came over to my shop and, like all visitors, he was given the tour: busy workshop, cool machines, highest quality woodwork being produced. My usual guest is a potential buyer, and a little walkabout puts them in the mood to place an order. But Mr. Waks was giving out a different vibe.

He wasn’t blown away by what he had seen, because that wasn’t what he had come to see. He was intent on signing me up. We ended up chatting in my office, and, to be frank, he came on a little strong. There was just the slightest whiff of snake oil in the room. I wasn’t prepared for a sales professional unleashing his whole skill set on me. Through all of the years I had been selling, my main method had been to let my product speak for itself. My approach was to tell the story of how we designed and built work. A certain type of buyer wants what we make, and that’s whom we try to sell to.

Mr. Waks had a different approach. He had a strong idea of what was common to every sale, in every business: the relationship between buyer and seller. He had a very distinct point of view as to what happens between the two. His pitch was that we needed to understand selling, pure selling, first. When we had received that training, then we could adapt those ideas to our particular product and sales methods.

I had never thought about selling that way. Frankly, I had never felt that I needed to think about the pure art of selling, separate from our product. The method I had developed, using our design and engineering skills to make a beautiful proposal, was a direct extension of the way we make furniture. The proposals were a little bit of craftsmanship that we gave away for free. Usually it worked, but my recent failures were fresh in my mind. In those cases something more had been required. Mr. Waks was promising to teach us a strategy that would help us understand what we needed to do beyond just writing good proposals.

His pitch was convincing, and his ideas made a lot of sense. But there is always something a little suspect about a pure sales animal. I wanted to believe in what I had heard, but on the other hand I was aware that I was getting the full treatment from an ice-to-eskimos kind of guy. And his services weren’t going to be cheap. He recommended a three-part contract: first, evaluation of myself and my sales staff and our methods. Then a 10-week training course in the Sandler Method of selling for myself and my staff. And throughout that, and continuing for a year, monthly consults. One meeting would be one-one-one with me, and the other with me and my three salespeople. All of that would cost me $37,000. It would be $8,000 to start, the rest spread out in 12 payments.

Mr. Saxton’s experience with Mr. Waks had been positive, so I pulled the trigger. I wanted some outside help. I have benefited greatly from getting some coaching on being a leader, courtesy of my Vistage group, and I also felt that I had little to lose. Our sales volume was dropping fast. I needed a fresh approach.

Thursday: The Brutal Truth: How I Scored as a Sales Manager.

Paul Downs founded Paul Downs Cabinetmakers in 1986. It is based outside Philadelphia.

Article source: http://boss.blogs.nytimes.com/2013/06/19/meet-the-sales-consultant/?partner=rss&emc=rss

DealBook: BSkyB to Hand Out $1.6 Billion to Placate Investors

James R. Murdoch, chairman of British Sky BroadcastingDavid Moir/ReutersJames R. Murdoch won the backing of British Sky Broadcasting’s board on Thursday to retain his role as chairman.

LONDON – British Sky Broadcasting, the satellite television company partly owned by Rupert Murdoch, said on Friday it would buy back some of its own shares and increase the dividend to compensate investors.

BSkyB, as the company is also known, said it planned a share buyback worth £750 million, or $1.2 billion, and would return another £253 million to shareholders through a final dividend of 14.54 pence a share.

BSkyB’s shares dropped more than 15 percent since News Corporation cancelled its bid this month for the 61 percent of BSkyB it does not own because of political opposition following the growing phone hacking scandal at one of News Corporation’s British tabloid newspapers. News Corporation, Rupert Murdoch’s global media empire, would participate in the share buyback, meaning its 39 percent stake in BskyB would not increase.

BSkyB also said its board unanimously voted in favor of keeping James R. Murdoch, Rupert Murdoch’s son and a senior executive at News Corporation, in his job as chairman of BskyB’s board. It was the board’s first meeting since News Corporation was forced to abandon its BSkyB bid.

“It was obviously a very full discussion,” BSkyB’s chief executive, Jeremy Darroch, said on a conference call. “At the end of that, the board was unanimous in its support for James to continue as chairman.”

Pressure on James Murdoch and BSkyB’s board to replace him had mounted ever since the appearance of new allegations of phone hacking at the British tabloid The News of the World, which fell under James Murdoch’s remit at News Corporation.

Mr. Darroch told the BBC in an interview on Friday that James Murdoch “got strong support” at BSkyB. He added that judging by his work at BSkyB, “he always acted with the highest degree of integrity.”

But some shareholders, including large British pension funds, have criticized BSkyB’s choice of chairman in the past, saying they would prefer a chairman who was not directly linked to the company’s largest shareholder, News Corporation.

There were signs that the phone hacking scandal also hurt other parts of the Murdoch media empire beyond The News of the World, which was shuttered.

The Times of London lost some subscribers in the immediate aftermath of the phone hacking scandal, James Harding, editor of the newspaper told the BBC on Wednesday. “We saw small number of people cancelled their digital subscription or print subscription,” Mr. Harding said. “Those have largely come back.”

BSkyB, which owns several satellite channels, said on Friday that operating profit for the full year that ended in June rose 23 percent to £1.07 billion from £872 million a year earlier. That beat the average £1.06 billion in profit analysts surveyed by Thomson Reuters predicted. BSkyB’s shares rose 0.5 percent in London on Friday.

“Recent hysteria may have affected the share price,” Richard Hunter at Hargreaves Lansdown Stockbrokers in London wrote in a note to clients. “But the underlying business remains defiantly strong.”

Article source: http://feeds.nytimes.com/click.phdo?i=d813281065faa0b3086117be7eb553dc