Sales Advice for Introverts

At the Rainmaker Academy they distinguish between “interesting extroverts” and “interested introverts.” The latter can be more effective by listening and, while extroverts are more likely to talk about their firms (this is less interesting to prospects).

This article deals with the formalization of the sales process by several firms. A good example is Barnes, Dennig & Co., in Cincinnati. Here is a summary of their process which has been in place for several years:

1. Chris Perrino, the business development director, is notified of a lead or “suspect.”
2. After qualifying the lead, it becomes a “prospect.”
3. Perrino and the managing director decide on who will comprise the sales team.
4. They schedule a meeting with the prospect.
5. Before the meeting, an internal meeting is held during which they:
   1. Prepare an agenda for the prospect meeting.
   2. Make a list of the topics that may be brought up.
   3. Determine and record what they know about the prospect.
   4. Determine which clients they can refer (and which might be competitors).
   5. Make a list of ideas for tax savings, etc.
6. During the prospect meeting, they:
   1. Agree on the prospects needs.
   2. Find out the decision-making process.
   3. Determine the timing.
7. An internal debriefing meeting is held at which they:
   1. Discuss technical issues
   2. Configure the relationship in line with the prospect’s expectations.
   3. Brainstorm ideas for tax reduction, etc.
   4. Discuss strategies for landing the client.
   5. Revisit the make-up of the engagement team.
   6. Discuss contacting the prospect’s lawyers and bankers.
   7. Discuss professional standards and risk assessment.
8. They schedule a meeting with the prospect’s decision-makers at which they:
   1. Develop further insight into the decision process.
   2. Create affinity with the prospect.
9. The proposal s prepared and presentation responsibilities are assigned. They . rehearse the presentation.
10. A meeting is scheduled to present the proposal.

Other ideas for improving the sales process include the following:

Larry Bildstein, CEO of The Whetstone Group in Marion Iowa, believes firms should have someone filling the role of sales manager. The sales manager is the growth leader, leads by example, works with the sales people, monitors the process, enforces accountability, and implements incentives.

Bildstein also cautions people to avoid acting “like a hammer looking for a nail.” In other words you should focus on the client’s real problems rather than trying to use your favorite skill on a problem that may not exist.

At Margolis & Company in Bala Cynwyd, Pennsylvania, non owners who bring in new business are paid 12 percent of the first-year’s revenues.

Larry Bildstein believes there should be no compensation for bringing in new business. He says paying commissions rewards something that should be part of your job. That implies it is okay if you don’t bring in business.

From Practical Accountant, January 2006. For the complete article, click on the following link: http://www.webcpa.com/article.cfm?articleid=18389&;pg=pracacc.