A lot of salespeople chase deals, I always wanted to establish “Hubs,” or deals / contacts that can lead to many deals. I have often heard this called “Centers of Influence,” but that strikes me as a bit chasing and hollow. In my mind, these are people you can sell to / service once, but they can facilitate you getting deals again and again. In copied sales it may have been a Controller or COO, in office moving service sales it was a building manager or Project Manager for a major publically traded Commercial Real Estate firm. In Insurance, it’s realtors flipping homes, or fractional accounting firms for startups. These folks can turn one deal into “many.”
I half-joke that you have to survive your first year in most sales roles, years, 2-3 you’re “known,” and my 5 you’re the “man” or “woman” for your need in that circle. People have to see / know you for a bit. In office moves my Dad would say we’re just waiting for someone to drop the ball. Everyone hates copiers and nobody knows anything about them my old copier sales manager would say, and in Insurance, we’re looking for some boilerplate coverage that no thought went into to pick apart. For the Insurance side, meaningful savings, better coverage or a chance to turn insurance into a profit center’s our in.
In startups, the famous question is your startup building an Aspirin or a Vitamin? Are you surprised and delighted? Or are you taking away pain. Startups that take away pain are powerful. Randy Schwantz coined the term “The Wedge” in Insurance sales, as you’re driving a wedge between your client and the competition. It’s all about leverage. Ideally, you keep it above board, I have heard of people using company financial gossip or getting the terms left on a lease to dust up a pain point of fear too.
When you’re selling try and avoid ever feeling like you’re done or the deals wrapped up. Especially early in my career, I’d have my point of contact “sold,” but I wouldn’t realize the real decision maker was up the chain or not who I dealing with. It’d feel like I lost the deal last minute, but I never had the right person sold. Deals aren’t done until they’re done. Be leary of false summits. The money’s not yours until it hits the bank, even then it’s a good idea to leave some cushion / time. Clawed-back deals and commissions can hurt. Try and spend a fraction of money you didn’t see coming on. a big Commision check, and get back to it.
At the height of my moving sales days I have two good sources, Project Managers and Building Managers. Maybe 10 years later a good mentor bud of mine on the Insurance side mentioned having 3 uncorrelated deal sources. That way if the economy tanks one, you still have two legs to stand on, but you’re also not being a jack of all trades, master of none. In insurance this in particularly important because the knowledge is so nuanced. I see the logic in how my moving sales pipeline worked. We were card collecting cold calling savages around 2009/2010, so my copier sales days were a bit of a different beast, but I could see 3 associations or industry groups really working there too.
Last but not least, make it fun and be polite. This sh_t is hard and work is boring. Everyone can use a treat and a little “upbeat” energy around them. Don’t be manic, but solve your personal problems as best you can with friends, family, exercise, maybe even a therapist. You’ve gotta be ready to play the sales game. People love sweet and savory unexpected snacks. My Godfather used to sell packing materials, he’s drop fun trinkets and cards because “everyone’s board.” I think things have shifter with technology a bit, but the principal is the same, surprise and delight your prospects! We can all use a little cheer.
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