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Is the Market Changing?

January 9, 2013 by Gloria Keith

GET OUT THE SHOVELS… as the old expression goes, the only constant is change itself. It's a blessing that things are always changing! If everything stayed the same, life would be boring. Boring leads to complacency and complacency leads to mediocrity = poor Sales volumes. That's never a result that a Salesperson wants to see. On the other hand, change is only welcome when it is "for the better". If you buy a new car and it turns out to be "worse than the one I traded in" that's not a good change, right?

Fact of life…markets change all the time. Sales opportunities get better and they get worse. No surprise there, is there? Market fluctuations are the result of two main influences… seasonality (time of the year) and economic conditions (supply, cost of money, related industry results, etc.). To be a great Salesperson you must be able to adapt to what's going on around you.

Here is your ACTION STEP… think of your Sales Market like the weather. If it's hot out you dress a certain way and engage in related activities. If it is cold out you "bundle up" and perform very different tasks. If there's snow on the ground then you have to deal with it! The real key is to be able to "roll with the punches". This is especially important in a declining or down market. Sometimes you have to "get out the shovels" and move the snow out of the way. Here's some ideas:

BK'S PLAYBOOK FOR A DECLINING MARKET

1. Start work one half an hour earlier every day

2. Do something every day to strengthen your mindset (books, affirmations, avoid negative people/news, etc.)

3. Get your personal database in order, call them all and ask for business and referrals (especially the ones you haven't spoken to in a while)

4. Develop a daily/weekly schedule that "turns up the volume" for the next 3 – 6 months

5. Be very clear on your top 5 – 6 personal goals. Reconfirm your motivation daily

6. Be very clear on your business goals. Break it down to weekly targets and track it daily. Stay super focused!

7. Think Bigger… read "Book Yourself Solid" by Michael Port

8. Identify the top 5 – 6 objections you are receiving and master 2 – 3 responses for each

9. More prospecting – you've got to be prepared to "shovel more snow" every day + Bonus idea: call all your old leads immediately

10. Get someone to hold you accountable for all of the above. "No man is an island" – English poet John Donne

Here's the key to dealing with a changing market… whether the market is going up or down, keep doing the same things. ("Bruce, that doesn't make sense! If the market is changing…I should do something different, shouldn't I?") Not really…the key is to maintain a solid routine. What changes is the volume of how much each task is performed. Be prepared to…Shovel more snow! For example, in a declining market you probably need to work more hours, contact more people every day, and spend less on marketing. In a rising market you have to be very careful not to get carried  away with the "success of the moment". You have to keep loading up your conveyor belt every day to quickly take advantage of the opportunities quickly as they come along. Either way make sure your "shovel" is doing the job that is needed today. If you are currently in a market where there is more snow than normal… you need to "do more shoveling". While everyone else complains about the snow, you are way ahead of them clearing a path for yourself. Keep shoveling! NO Excuses.

Filed Under: Blog, Sales Training Tagged With: Change

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