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Posts Tagged ‘insurance’

Progress, Status Quo and Failure

May 22nd, 2012 No comments

We all say that we want to progress or advance in sales and profits. Certainly some companies are selling more new homes in manufactured housing. That means more loans are being closed, more insurance policies are being written, so the whole range of products and services that go into every new manufactured home sales takes place.

But what makes the difference between progress, status quo and failure?

Let's look at five true-to-life examples to answer the question. While these examples are ours, they could apply to other circumstances too. So use the open mind to success, enjoy and profit.

Example of Progress:

A client not only thanked us for the work done and their significantly enhanced results, but they introduced us to another MH company. Not a 2 minute introduction, this was a 45 minute 3 way conversation.

The client heard Tony sharing an idea at a meeting. That lead to a conversation. The conversation led the firm becoming a client. This owner had an open mind. He was curious. He investigated, he listened, he acted.

He profited.

Like many of you, this man was "busy." But he wasn't too busy to learn more to earn more! He made time for what was important. That is the takeaways from this first true tale.

Examples of status quo:

This is perhaps the most common group.

Professionals all tend to run a similar path every day. You follow the same road to and from work. You do things at work similarly too. Is it any surprise when you do the same things the same way, that you keep getting the same results?

By contrast, another gent sent us a message to say thank you. He confessed he was a status quo guy for a long time. But then it happened…

The thank you was first for the insights they gained from reading at MHProNews.com (MHMSM.com), then later from using a specific program and process. A page long message said in part, that he had been in business for decades. He thought he "knew it all." It wasn't until he stopped to consider something new that he was able to advance.

So if you are satisfied, don't change. That is the status quo. But if you are looking for more, be open minded and ready to do more. Then, do what it takes to make that more a reality. The takeaway here is leaners are better earners.

Not every story has a happy ending.

One business owner wanted to grow. They "wanted" to advertise. They invested serious dollars in their operation. Limited on funds, they felt they had to "protect" their resources by "playing it safe." No ads, no growth. They played it so safe, their doors finally closed.

The takeaway from the above is this: the 'safe' center may look safe, but it is the center lines where you find the dead carcasses on the road.

Example of Going Backwards.

The truth is that you typically are advancing or retreating in business. Tony Kovach shared an experience with me of an owner who spoke to him at a large industry meeting. The man described how he had grown tired of all the "fights." Which fights?

"SAFE Act, Dodd-Frank, state and local regulations! I finally got sick of it all." said the owner. "I stopped trying to figure it all out." He turned, and left the meeting.

While we can sympathize, is it any surprise why the occupancy of that community owner declined after he got "tired" of all the "fights?" Note too that the same meeting produced some very motivated attendees.

This takeaway? "You don't tell the fire place, give me warmth and I'll give you wood!" You get out the heat to the measure that you thoughtfully and purposefully put in.

Some tips:

  • Be open to new ideas. The "Know it all" means you can't learn.
  • Keep the bottom line in mind. It is more important to be ready to change directions in a new, better direction than to keep following the same line day after day.
  • Reach out: to peers; network and don't be afraid to hire a professional to get your job done. You wouldn't hesitate to go to a doctor for a medial worry. Why hesitate to hire a professional to help your business?

Progress, the status quo or failure. The choices are yours.##

Posted by:
Tim Connor
Business Development and Ads Manager
MHProNews.com (MHMSM.com) and
MHLivingNews.com
704-895-1230
tim@MHMSM.com

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Lazy vs. Professional Sales People

December 18th, 2011 1 comment

Sales is a profession. When it is done 'professionally,' one can earn the type of income that other professionals earn. Years before I was introduced to the sales of manufactured homes, I was fortunate to have been trained by an insurance sales professional. Though the products are different, every business is the 'people business.' So there were helpful lessons that made the transition to a tangible product sales easier.


One of the great lessons from that trainer was the difference between the disciplined sales professional vs. a lazy one.

Stop and think. Medical doctors routinely study the latest literature. They take annual update classes. They read daily in their field.

Attorney's keep up with the latest decisions in case law. Lawyers also have to take classes and update information. Good teachers must do similarly, auto mechanics have to keep up with the latest cars and their mechanical trends and so on.

So why do some sales pros sometimes behave as if they know it all and have nothing more to learn?

I spoke with a firm once where the conversion ratio of in the door contacts to closed customers was 1 in a 100. Ouch. As I observed the 'process' that was followed, it was quickly apparent why. Excuses to management were the type of selling that location's sales staff seemed to specialize in.

To be a sales pro who truly wants to earn a professional income, one must:

- have a planned process - not a canned process – from initial contact to satisfied customer. Just as every professional sports team has there play book, but also practice how to ad lib a play, so too sales pros must drill on a process that routinely results in closed business.

- Review every sales encounter. In the insurance business, I was taught that after every sales call, you stopped and did a quick review immediately thereafter. What went well? What went awry? How could it be better next time? Professional players watch film! Why not 'replay' the sales encounter in a studious, professional fashion, so you can learn what works and what doesn't?

- Keep accurate records. Many firms have leaned the value of CRM (customer relationship management) software. A sales pro may be able to handle 20-30 prospects maximum manually and do 'well.' With CRM, hundreds can be in your data base and intelligently followed up. As important, don't lie to yourself or your company. Record and log every sales encounter. That means the 30 second one as well as the 3 hour one. You can't be your best until you – and your manager/coach – know exactly how your conversion ratios are going.

- Stay up to date! As a young student of manufactured housing, I devoured every trade magazine I could get my hands on cover to cover. I listened and observed all the sales people around me. Yes, that meant the good ones AND the poor ones. What made the poor ones weak? What made the more successful ones good? I watched and took notes. I asked questions from those who would shoot straight with me. I wanted to be a sponge, and soak up all the Info on homes, product or industry news and strategies that I possibly could.

As a result, my personal best month was 15 homes sold at retail. 1-3 homes a week was a routine sales result, once I was 'in the groove.' I earned more after my first year in MH sales than my father who was a well published full professor at a major university and more than my older brother-in-law who was a seasoned pharmacist.

Managers, set an example of dedication to learning. Let your staff see you reading news and tips daily here on MHProNews.com. Then, you can look your look your staff in the eyes, and say, here is part of your daily drill. You should have them read Everything!

Daily.

I leaned sales methods ranging from the Schwepfinger approach to many others taught by factories, trainers, books or audios that I invested in or where provided by companies I worked with. Over the years, I created my own system from what I felt was the best of what I learned, which included such gems as SPIN and SIB-KIS in selling. We could take a house wife with no prior outside sales skills and if she had the right attitude and drive, with an easy to learn, low key approach, have her selling 3-4 homes a month. Those who became proficient would do double that monthly or more. One gent who worked with me accomplished an amazing feat: during a one day open house, he wrote seven up, got all seven approved and closed all seven sales, plus those he did the balance of that month.

7 in a day! That's selling!

Sales people have the advantage, but only if they are professional, respectful, listen and are dedicated. Ask the right questions, listen to what people tell you. Listen to what they mean, not just what they say. Have the right intentions, to truly serve them, not just to shoe horn them into a house.

At the PEAK Retailer summit, which we will have recap of at the Louisville Show mid January 2012, one of the attendees made this powerful statement:

People are more interested in whether you care vs. what you know.

So true!

Combine true care for your customers, a true desire to serve them the way you would want to be served. Combine that with a prudent sales process that is user friendly and you will earn a professional income while enjoying the benefits of having happy customers. ##

 

post by
L. A. "Tony" Kovach, MHM

www.MHProNews.com  
www.MHMarketingSalesManagement.com  or www.MHMSM.com 
Innovation – Information – Inspiration for Industry Professionals 

Office – 815-270-0500
latonyk@gmail.com or tony@mhmsm.com
http://www.linkedin.com/in/latonykovach 

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