Sales People: Could Compound Selling Be Your Game Changer
I recently posted a PodCast on Activity Based Selling which was inspired by Timo Rein, The CEO of Pipedrive and his brilliant blog of the same title. https://blog.pipedrive.com/2016/06/activity-based-selling/
Timo made a clear and practical case for breaking down the complex sale into tangible activities. I agree completely with this approach and have applied it to my sales process.
After implementing an activity definition and approach, I received the benefits that Timo described. I also quickly learned that it was not just Doing the Activities but HOW I did the activities. So I wanted to build on the approach with what I call Compound Based Selling.
I have always been fascinated compounding based business models. Starting as a child, I learned about compound interest; you received interest on your money and month after month your earned interest on your interest. Hence making money in your sleep which includes my two favorite things Money and Sleep.
The professional of sales has very little compounding built into it. We typically get a new comp plan, territory and quota every year and in a sense start from scratch. We are focused on the next deal and making our monthly, quarterly and yearly number. Our skill as sales people is often viewed as binary meaning we either know how to sell or not. Much like riding a bike once learned it is not forgotten. This is a very scary viewpoint and may explain why there is so little compounding in sales.
In this week's PodCast I explore the power of Compound Selling as well as what happens I you ignore it. I will share what I have work and not work as well as the simple approach to get started that takes only a few minutes.
Here are some of the things I cover:
How to segment your Day and Week
How to rate your effectiveness after each call
How to build an A-Player skill set in less than a year
How to be #1 in your Market and not just in your company
Here is the link to the PodCast: https://itunes.apple.com/us/podcast/could-compound-selling-be/id327760868?i=1000378290276&mt=2
I would be very interested in your feedback your ideas around Compound Based Selling and what has worked for you.
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