In this series of articles on economic philosophy applicable for the sales force and sales management, we’ve been stressing certain entrepreneurial principles and their importance in sales and commerce. We have seen how empowering it can be to understand some of the root economic principles that guide sales and commerce, and how that understanding can ...
As a salesperson, you are engaged day-in and day-out in moving deals toward closes. You have most likely given little thought to what your activities might mean in the grand scheme of things, to the world at large. If you have, you might have even brushed them off as having little to no consequence. But ...
Your success at closing a complex sale is dependent on your ability to strike up a meaningful conversation. That’s because once you’ve engaged a prospect, you able to dig deeper and obtain the insights you need to understand the problem the customer wants to solve. This step is crucial. That’s because you need to obtain ...
People buy from people they know, like and trust. This is a well-documented fact and as a sales rep, it means one of your key objectives when meeting with prospects is to build rapport so you can earn the likability factor. But how can questions in the sales process help with this? Let me explain… Make ...
Continuing our series on economic theory and its application to sales, we here take up an extremely important factor: sustainable value. As you will see, it has an intrinsic application to commerce, the sales force, and in fact personal lives and even the activities of nations – and is one of the key aspects in ...
Next up in our series on how economic philosophy can be readily applied in sales, we will take a look at a factor called comparative advantage and how it can greatly assist sales management. The term is normally used to describe the ability of a party to produce a particular good or service at a ...
With buyers being informed by the internet and making some 70 percent of their buying decisions before ever speaking with sales reps, salespeople must be more savvy than ever in their understanding of prospect companies and their needs. This depth of understanding is what is referred to as insight selling, and today is the central ...
Next up in our series on highly applicable economic principles is one called opportunity cost. Opportunity cost is the investment your company must make to achieve a sale, and it has a bearing on every company activity associated with a sales cycle. It is applicable equally on the higher level of entrepreneurship as well as ...
